Should the US apply FATCA to ALL citizens and rather than publically ignoring Boris. Once again if Boris is no longer a US citizen, please have him publish his CLN to the world.
Great video! My situation is identical to Ralph’s. I only wish it was a bit “tighter” so that I could show to it to US Residents and they wouldn’t get bored.
“…just think about the troops”… 😀 😀
I didn’t know Sarah Palin got contact lenses!
All the rubbish that you can read in the comments section of newspapers wrapped into one! The best bit was with the aircraft carrier comment 🙂
Tremendous… Did you know that the USA is the only nation that has elections and you can open up a business?
Great video! It really illustrates the different (conflicting) points of view of Homelanders vs. Expats.
I think the video is more about the difference between expats who are employees of large US companies vs. expats who run their own small businesses.
I get it: many Americans like the woman here, are operating under the premise that it’s unpatriotic to want to live outside the US. That’s why it’s important for them to emphasize that it “smells” funny elsewhere. What is that odour she’s smelling? I come across these people often, next time I’ll just ask them “Do you think it’s unpatriotic for an American to want to live outside the US?”
@bubblebustin who wrote: “Do you think it’s unpatriotic for an American to want to live outside the US?”
Sadly I think many would say yes, because the USA is at war with the world, meaning anyone anywhere else could be standing on enemy territory, now or in the future.
@em then naturally everything we say to these individuals and do is discredited as the words and actions of a traitor. Nice!
The Canadians couldn’t ccellot the FBAR penalty even if they wanted to.The penalty amount is not automatic. I has to first be determined by a civil judgement brought in a US Federal District Court.Since the IRS has yet to bring such suits against anyone much less obtain such a judgement what, exactly, would or could the Canadian authorities do to assist the IRS? Establish Canadian FBAR courts?
1. The US-Canadian tax treaty has a mutual civil tax collection provision but it is inapplicable to citizens of the requested state (i.e., Canadian citizens in Canada)
2. The story of the Swiss-American heiress, like so many anecdotes, is inaccurate. In the USA, unlike (say) Germany there is no federal IHT (some states have them) only an estate tax, so there’s nothing to “avoid” for noncitizens. IRS generally seeks back taxes from nonfilers abroad only when they come to IRS attention (as perhaps through the filing of estate tax form 706; or a denunciation). Because Swiss taxation depends on wealth tax, and wealth tax is not deductible from US income tax, US taxes could be higher. As for Interpol: one cannot generally be extradited for tax offences but often charges are brought for money laundering and common-law fraud as well. The Ian Leaf and Marc Rich cases show how this could work, not always with success for the tax collectors if the non-payer is careful about where s/he travels. Under the Lord Mansfield dictum, countries do not readily assist in enforcing each others’ tax claims. Least of all if one is a citizen of the requested country (whether or not also a citizen of the requesting country).
3. Boris Johnson renounced his US citizenship in 2006. He was born there (an “accidental American”) and did not live there long enough for his children born in Britain to be afforded US nationality.
4. It appears that the NSA is now accessing massive amounts of financial data (such as SWIFT transactions) including those of US citizens. That is one way they were on to Marc Rich’s Iran embargo offences as early as the late 1970s. Heretofore they haven’t risked revealing “sources and methods” by allowing the data to be used other than for policymaking, or ever to be used in court as evidence. But whether it is used in conjunction with FATCA data or otherwise as unattributed “hints” to finding other evidence is an open question.
5. They guy mentions he has Swiss ancestors. He might be eligible for accelerated naturalisation. As the conversation hints, under international law states need not recognise their own citizen resident in their territory as possessing any additional, foreign nationality (indeed such persons are not eligible for diplomatic or consular protection without the consent of the first state). Swiss-Americans resident in Switzerland who have no income, assets, inheritance or heirs in the USA and who are registered with a local commune simply ignore their US nationality and have no US passport. (Many who have no Swiss earned income do not register in order to avoid global taxation or AVS contributions or health insurance premiums; this can be false economy).
6. Unlike Switzerland the USA does not know who all its citizens are, at least those without passports. A dual Swiss national will lose that nationality at age 22 if living abroad and if s/he does not register with a consulate. Reminders are normally sent out to 18-year-old Swiss abroad if their addresses are known to the government.
7. A Swiss-American who despairs of Swiss intrusiveness and lack of cosmopolitan outlook (if that is the case) can take advantage of the EU/EEA/Swiss treaties and live in the UK. Of course the UK has a nasty one-sided extradition treaty with the USA, but to date nobody has been extradited for tax offences as such. Marc Rich avoided Britain because of the other offences (Iran embargo, etc., perhaps moneylaundering) he’d been charged with. His federal pardon does not affect his charges under New York State law.
Superb! Sadly, it captures the essence of many conversations that I have actually had.
Unfortunately way too true.
Ahh, the very definition of American exceptionalism.
@Blaze
“Unfortunately way too true.”
I hope you don’t mean the part about the swiss being ignorant 🙁
😉
Has Boris Johnson filed his US Taxes if he hasn’t renounced his US citizenship? His income for 2010/2011 was £473280 or about US$ 748,000.
See – http://news.bbc.co.uk/1/shared/bsp/hi/pdfs/05_04_12boristax.pdf
Should the US apply FATCA to ALL citizens and rather than publically ignoring Boris. Once again if Boris is no longer a US citizen, please have him publish his CLN to the world.
Great video! My situation is identical to Ralph’s. I only wish it was a bit “tighter” so that I could show to it to US Residents and they wouldn’t get bored.
“…just think about the troops”… 😀 😀
I didn’t know Sarah Palin got contact lenses!
All the rubbish that you can read in the comments section of newspapers wrapped into one! The best bit was with the aircraft carrier comment 🙂
Tremendous… Did you know that the USA is the only nation that has elections and you can open up a business?
Great video! It really illustrates the different (conflicting) points of view of Homelanders vs. Expats.
I think the video is more about the difference between expats who are employees of large US companies vs. expats who run their own small businesses.
I get it: many Americans like the woman here, are operating under the premise that it’s unpatriotic to want to live outside the US. That’s why it’s important for them to emphasize that it “smells” funny elsewhere. What is that odour she’s smelling? I come across these people often, next time I’ll just ask them “Do you think it’s unpatriotic for an American to want to live outside the US?”
@bubblebustin who wrote: “Do you think it’s unpatriotic for an American to want to live outside the US?”
Sadly I think many would say yes, because the USA is at war with the world, meaning anyone anywhere else could be standing on enemy territory, now or in the future.
@em then naturally everything we say to these individuals and do is discredited as the words and actions of a traitor. Nice!
The Canadians couldn’t ccellot the FBAR penalty even if they wanted to.The penalty amount is not automatic. I has to first be determined by a civil judgement brought in a US Federal District Court.Since the IRS has yet to bring such suits against anyone much less obtain such a judgement what, exactly, would or could the Canadian authorities do to assist the IRS? Establish Canadian FBAR courts?
1. The US-Canadian tax treaty has a mutual civil tax collection provision but it is inapplicable to citizens of the requested state (i.e., Canadian citizens in Canada)
2. The story of the Swiss-American heiress, like so many anecdotes, is inaccurate. In the USA, unlike (say) Germany there is no federal IHT (some states have them) only an estate tax, so there’s nothing to “avoid” for noncitizens. IRS generally seeks back taxes from nonfilers abroad only when they come to IRS attention (as perhaps through the filing of estate tax form 706; or a denunciation). Because Swiss taxation depends on wealth tax, and wealth tax is not deductible from US income tax, US taxes could be higher. As for Interpol: one cannot generally be extradited for tax offences but often charges are brought for money laundering and common-law fraud as well. The Ian Leaf and Marc Rich cases show how this could work, not always with success for the tax collectors if the non-payer is careful about where s/he travels. Under the Lord Mansfield dictum, countries do not readily assist in enforcing each others’ tax claims. Least of all if one is a citizen of the requested country (whether or not also a citizen of the requesting country).
3. Boris Johnson renounced his US citizenship in 2006. He was born there (an “accidental American”) and did not live there long enough for his children born in Britain to be afforded US nationality.
4. It appears that the NSA is now accessing massive amounts of financial data (such as SWIFT transactions) including those of US citizens. That is one way they were on to Marc Rich’s Iran embargo offences as early as the late 1970s. Heretofore they haven’t risked revealing “sources and methods” by allowing the data to be used other than for policymaking, or ever to be used in court as evidence. But whether it is used in conjunction with FATCA data or otherwise as unattributed “hints” to finding other evidence is an open question.
5. They guy mentions he has Swiss ancestors. He might be eligible for accelerated naturalisation. As the conversation hints, under international law states need not recognise their own citizen resident in their territory as possessing any additional, foreign nationality (indeed such persons are not eligible for diplomatic or consular protection without the consent of the first state). Swiss-Americans resident in Switzerland who have no income, assets, inheritance or heirs in the USA and who are registered with a local commune simply ignore their US nationality and have no US passport. (Many who have no Swiss earned income do not register in order to avoid global taxation or AVS contributions or health insurance premiums; this can be false economy).
6. Unlike Switzerland the USA does not know who all its citizens are, at least those without passports. A dual Swiss national will lose that nationality at age 22 if living abroad and if s/he does not register with a consulate. Reminders are normally sent out to 18-year-old Swiss abroad if their addresses are known to the government.
7. A Swiss-American who despairs of Swiss intrusiveness and lack of cosmopolitan outlook (if that is the case) can take advantage of the EU/EEA/Swiss treaties and live in the UK. Of course the UK has a nasty one-sided extradition treaty with the USA, but to date nobody has been extradited for tax offences as such. Marc Rich avoided Britain because of the other offences (Iran embargo, etc., perhaps moneylaundering) he’d been charged with. His federal pardon does not affect his charges under New York State law.