Another video I came across today on the subject of taxation of U.S. Persons in non-U.S. jurisdictions, and specifically on giving up U.S. citizenship — Robert Wood talking with Scott Drake on the Legal Broadcast Network. Looks like renounceuscitizenship beat me to it and wrote about this one a few weeks ago over at his own blog! Anyway, for those of our readers who are hard of hearing or just too impatient to watch a whole video, I’ve written up a transcript — you can click “continue reading” below to see the transcript, along with my own comments. Be forewarned: you will probably find the level and tone of discussion in this video to be rather disappointing.
Monthly Archives: March 2012
Consulate Report Directory (Brockers describe their Consulate Meetings) Part 1 of 2
If you arrive here through an old link, please click here for the Current Thread.
Wonder what really happens at the consulates? Find out in the Isaac Brock Society’s Consulate Report Directory, currently 274 pages of first-hand accounts of renunciation/relinquishment appointments, arranged by consulate location, along with links to further information and the required Dept of State forms.
Zakaria: America needs a 2-page tax code
If tax complexity equals corruption, perhaps the US is one of the most corrupt nations in the world and we just don’t know it.
The U.S. tax system is not simply corrupt, it is corrupt in a deceptive manner that has degraded the entire system of American government. Congress is able to funnel vast sums of money in perpetuity to its favored funders through the tax code without anyone realizing it.
IRS Volunteer Opportunity — Where is the Representation for US Persons Living in Other Countries?
http://www.irs.gov/newsroom/article/0,,id=255756,00.html
IR-2012-35, March 19, 2012
WASHINGTON — The Internal Revenue Service seeks civic-minded volunteers to serve on the Taxpayer Advocacy Panel (TAP), a federal advisory committee that listens to taxpayers, identifies key issues, and makes recommendations for improving IRS service.
Head of Americans Abroad Caucus questions Geithner about banking issues
Via Just Me on Twitter, we learn that Congresswoman Carolyn Maloney (D-NY), head of the House’s Americans Abroad Caucus, posted a video of her questioning Treasury Secretary Tim Geithner on, among other things, banking issues faced by U.S. Persons in non-U.S. jurisdictions. For those of you who hate watching videos (like me), after the jump I’ve made transcript of the relevant section, which begins around 3:14.
IRS May Draft Cops to Catch Tax Cheats, Official Tells Senate
Hello Police State!
While the Obama Administration curtailed its involvement with local police agencies to enforce immigration law and capture criminal aliens, that same administration wishes local cops to help the Internal Revenue Service enforce tax laws, according to testimony given before a panel of U.S. lawmakers on Tuesday.
IRS May Draft Cops to Catch Tax Cheats, Official Tells Senate
FATCA Makes Banks Shut Out Americans
I would draw your attention to the recent post by Robert Wood at Forbes. It caught my attention this morning, and so I decided to post a comment back to him. Frankly, Robert is one of the regular and consistent writers on FATCA, FBAR and Citizenship taxation issues. He often quotes and references American Citizens Abroad. I sometimes joke that they must have him on their payroll. That is NOT true! LOL
Here is the link to the most recent posting…
FATCA Makes Banks Shut Out Americans
I could not pass up the opportunity to post a comment back to him, and the text is produced below:
The Ever Increasing Police State
It seems that in addition to arbitrary and indefinite detention of U.S. citizens and resident, as authorized through the recently passed National Defense Authorization Act ( NDAA) that a supporting piece of legislation that lengthens the time the government can hold information on you has also been signed into law:
http://ca.news.yahoo.com/americans-data-held-longer-under-counterterrorism-rules-053900195.html
IRS audit rate jumps for multimillionaires
The Internal Revenue Service audited about 30 percent of the returns of those with adjusted gross income of $10 million or more in 2011, according to statistics released on Thursday. By contrast, in 2010, the agency audited about 18 percent of that group.
How the IRS treats foreigners in the US
Via TaxProf Blog, a new paper by Linda Dodd-Major and Paula N. Singer: “When Immigration and Tax Converge“, which criticises the the IRS’ confusing treatment of foreign nationals living in the U.S. I’ve quoted some choice bits below.