Why the Glenshaw Glass Test for Income Is Total Crap and Federal Courts just do whatever they want.

Why the Glenshaw Glass Test for Income Is Total Crap and Federal Courts just do whatever they want.

"Taxation is theft." It's not just a catchy slogan. Rather, even for those who think an income tax isn't theft, this video shows still, how the income tax is defined to include things that aren't income. The test for income comes from Glenshaw Glass, a 1955 Supreme Court case, which defined income as an ascension to wealth, clealry realized over which the taxpayers has dominio. And this test is pretty much ignored. Not so much that the test is crap, it actually makes sense. But how it is it applied dilutes the word "income" into nothingness. Joining tax attorney Anthony E. Parent is John Richardson of citizenshipsolutions.ca. The two give precise examples of how the current application of the law reveals that the income tax is simply a way for the government to confiscate whatever asset they want for whatever reason. Here are some of the games the government plays: Loss limitations Tax periods games Credit limitations Phantom income Losses Currency gains PFICs Transition Tax Expatriation Tax The two also discuss how the test for income is completely ignored when it comes to the Government's pet causes. The 16th Amendment only allowed an income tax. What we have now just isn't. Parent & Parent LLP 144 South Main Street Wallingford, CT 06492 (203) 269-6699 info@irsmedic.om https://youtu.be/qrMoATA2m3E IRS Medic

IRSMedic has job openings for the best US tax professionals around the globe!

IRSMedic has job openings for the best US tax professionals around the globe!

Our business is expanding. We are lookign for US tax professionals with international experience to work remotely. Parent & Parent LLP currently has several job openings. We are looking for tax professionals around the globe with international experience. We are looking for both seasonal workers and full-time team members. If you are a highly motivated individual who also possesses excellent communication skills, this might be for you. As you will play a critical role in our effort to enhance our brand by delighting our clients worldwide. Let’s talk about what you'll bring  - You must possess an active unrestricted credential: Enrolled Agent, CPA, or Practicing Attorney with strong tax preparation experience and extensive knowledge of tax laws  You must possess or be able to obtain any related State licenses, certificates, permits, or bonds.  You must possess an active PTIN, 3 or more years of recent experience preparing federal and state individual 1040 tax returns for clients/customers, using commercial tax preparation software. You possess a working knowledge of Circular 230 Audit experience a plus (IRS and state tax authorities) You are proficient with technology; solid knowledge of computer operations and software  You must have a dedicated reliable hardwired internet connection  You possess strong client service skills - with an ability to interact with clients and team members around the globe with video and audio tools in a way that is professional, friendly, and reassuring.  You have the ability to work in a fast-paced environment with minimal supervision  Critical thinking, problem solving, research skills and determination are key. Knowledge of other countries tax regimes is a plus; Multi-lingual communication skills are a plus  This is a client-facing role; you will be using our state of the art SECURE video and audio communication software. You will not be frustrated with technology issues, but rather, you will be on the forefront of all of the best, most secure IT developments.  You will create high quality client interactions and experiences that instill confidence utilizing your deep empathy, along with your substantial knowledge, curiosity, and expertise in the field of tax preparation and tax resolution.   You will utilize and leverage government websites, professional resources, and team expertise to seek out and deliver the best answers to clients using everyday language  If you love making clients happy all day every day and want to be part of a great team, then you are strongly encouraged to apply. Simply forward a cover letter and email to employment@irsmedic.com and we will get back to you promptly.  Parent & Parent LLP 144 South Main Street Wallingford, CT 06492 (203) 269-6699 info@irsmedic.com https://youtu.be/xMxpaDSlaZI IRS Medic

Tax consequences of an expired (or not) US Green Card: The Twilight Zone Edition

Tax consequences of an expired (or not) US Green Card: The Twilight Zone Edition

Did you know that it is possible for you NOT to have a legal right to enter the US yet still be treated as a US tax resident on your worldwide income? That's right, the IRS can impose taxes and penalties on you - even if you can not legally come into the United States. This is just one of the many absurdities that can result when your earn a US Green Card but are not aware of how all the laws work. In this podcast, Immigration/Tax lawyer John Richardson of citizenshipsolutions.ca and Keith Redmond of American Expatriates 2.0 on Facebook join host Anthony Parent as they discuss some of the most bizarre hypothetical: 1. When it make sense to expatriate for tax purpose 2. Meghan Merkle's and Prince Henry's likely escape from the exit tax trap 3. The 8 year decision point. 4. Other ways you may want to enter in the US aside from a Green Card - it might be the wrong thing 5. What to do if you are not in compliance or are worried about something else. Parent & Parent LLP 144 South Main Street Wallingford, CT 06492 (203) 269-6699 info@irsmedic.com https://youtu.be/bHXdm97I5JI IRS Medic

Can the IRS Exit Tax be retroactive? Does IRC Section 877A go back in time?

Can the IRS Exit Tax be retroactive? Does IRC Section 877A go back in time?

Prior to 2004 a Certificate of Loss of Nationality (CLN) was not needed to renounce ones US citizenship for tax purposes. In 2004, that all changed with a law, Section 877A which now requiresd a CLN There is considerable debate whether or not Section 877A is retroactive in cases where a CLN was not issued. If a the interpretation that 877A is retro-active that would mean many US citizens are missing years of tax returns and foreign reporting. An because they would still be considered US persons, they would need to file Form 8854 and expatriate correctly,y including paying an Exit Tax, if due. One of the top experts, if not the top expert on nationality issues and how they relate the the IRS is John Richardson, Esq. of citizenshipsolutions.ca. John joined host Anthony E. Parent, Esq. of Parent & Parent, LLP a top international tax firm located in Connecticut. With them is Keith Redmond, a global advocate for the American overseas, founder of American Expatriates 2.0 Facebook. The three discuss there conclusions on why 877A is likely NOT retroactive, but why few professionals are willing to say that and give more detail to an article John wrote in 2015 on this subject at Isaac Brock Society https://ift.tt/2E8zaUl Parent & Parent LLP 144 South Main Street Wallingford, CT 06492 (203) 269 6699 info@irsmedic.com https://ift.tt/1RfwK1f https://youtu.be/xfqRLjYMozQ IRS Medic

How to Renounce Your US Citizenship: A Quick Start Guide

How to Renounce Your US Citizenship: A Quick Start Guide

Other Links: Common Questions on Renouncing US Citizenship https://youtu.be/j-ldR0VncF0 Dedicated podcast on answering specific US and hypothetical questions https://ift.tt/2V8jm9p https://ift.tt/1pShFnD American Exptriates 2.0 on FaceBook Https:/www.irsmedic.com https://youtu.be/jPl2QGFsAl8 IRS Medic

Renouncing your US citizenship: Top Questions Answered.

Renouncing your US citizenship: Top Questions Answered.

Questions about renouncing your US citizenship. This video might answer some Joining attorney Anthony E. Parent are Keith Redmond, global advocate oft he America abroad and admin of American Expatriates 2.0 on Facebook, along with attorneys John Richardson of citizenshipsolutions.ca as they answer the most common questions people have about their relinquishing or renouncing their US citizenship FAQs includes: Can you actually renounce your US citizenship? Do you have to renounce your citizenship to become a US citizen? How long does it take to renounce your citizenship? Can you renouncing your US citizenship and still remain in the US? Get you get your citizenship back after renouncing? Can you get a green card after renouncing? Can you get a visa after renouncing? Is giving up a green card the same as renouncing? How do you renounce your citizenship? Does it matter when you made an act? What about taxes? What if you are not in tax compliance and renounce? = Is there a cheaper way to get into tax compliance? What if I don’t qualify for the Streamlined Disclosure Program? What about the US exit tax? If you are born with dual citizenship are you still subject to the exit tax? If you have questions, leave them below in the comments below! https://youtu.be/j-ldR0VncF0 IRS Medic

Share this US Expat Tax Survey far and wide!

Share this US Expat Tax Survey far and wide!

Laura's survey here: https://ift.tt/2UcWju6 Washington DC is full of people inoculated from the horrors of the Congress' laws. We NEED TO MAKE SURE EVERYONE IN DC KNOW THE REAL STORY! Share this incredible US Expat tax survey conducted by Laura Snyder on behalf of the Taxpayer Advocate with everyone you know, including your congressperson. We can't expect any positive changes until Washington actually understands and appreciates the impacts of their current laws. Too often the IRS bears the brunt of the blame. But the fact is, as guests John Richardson, Keith Redmond and Laura mention, often times it is the unelected government bureaucrat that is far more humane and reasonable than Congress. This seems like a failure of our Republic. A potential cure is to blast this survey and the others that support it to Congress all day and night until they finally get it through their thick heads that their dumb tax laws fail to raise revenue, waste resources of the IRS, and terrorize and diminish Americans everywhere. https://ift.tt/39eBDpV https://ift.tt/39eBhQi Thanks to attorney John Richardson of citizenshipsolutions.ca and Keith Redmond, global advocate for the American aboard, you can find him on Facebook at American Expatriates 2.0. Parent & Parent LLP 144 South Main Street Wallingford, CT 06492 (203) 269 -6699 info@irsmedic.com https://youtu.be/v0RIPUCihEA IRS Medic