THE TRANSATLANTIC MAGAZINE
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Have Your Voice Heard by Congress on the Repatriation Tax
US Tax expert Monte Silver offers a way to petition Congress on the Repatriation Tax
There's been some good news recently for Americans overseas, as the US Treasury and IRS revealed a one year extension for affected US Citizens to pay the new Repatriation Tax. The new tax, as reported by Monte Silver, will affect Americans living abroad who are "an individual US shareholder of a controlled foreign corporation".
As Mr Silver noted, however, the relief "grants a delay, not an exemption", and even for those who submit a form for the one year extension, "the payment is due by June 15, 2019".
Tackling the new Repatriation Tax head on, Mr Silver is now highlighting a new website - www.americansabroadfortaxfairness.org - he has developed to assist Americans overseas who would like to petition Members of Congress, advising US Politicians about the problems they face with this new tax. The website allows users to select their Home State, fill in a pre-written statement, and easily send it by e-mail to relevant Members of Congress.
Pointing out recent successes in expatriate tax issues, Mr Silver said that "In four months we have received relief twice from Treasury without spending a dime. Why? (1) Our cause is just and our goal specific. (2) Our petition targeted the right people. (3) You, many Americans abroad, and all the expat organizations acted!! ... Two battles down and just one to go. That's right, just one: the legislative solution."
"These are facts: (1) Congress will pass a law that fixes various problems created by the reform. (2) It will happen in the Lame Duck session - between the elections on November 6, 2018, and January 3, 2019 when the new Congress convenes."
"We can win within the year extension ... [if] each of us makes our voice heard effectively. The petition is the perfect tool. We successfully used a petition once, and now we simply duplicate what we did, one final time. When you sign the new petition, every single key senator and House representative, and their key staff members, will hear your voice, very loud and very clear."