The Isaac Brock Society

Nigel Johnston has made a real comprehensive assessment of what it will take to implement FATCA, obviously something Congress didn’t bother with. When delving more deeply into its workings, there are more questions than answers and a growing frustration with the lack of guidance the US is providing for such a huge undertaking. Do we need any more proof how misguided and irresponsible FATCA is, especially with the current time constraints? I read elsewhere that to do a good job would take five to seven years, and the US wants commitment by 2013! Those 30% withholdings probably look pretty appetizing right now as they are almost within grasp.

Canada: More On FATCA … And More To Come: The Internal Revenue Service And Treasury Department Release Proposed Regulations

China unleashes the new yuan

WASHINGTON — In a shift that could lead to a reshaping of the global economy, China’s government has loosened the tether on its currency, signalling the determination of the country’s leaders to make the yuan a rival to the U.S. dollar

https://secure.globeadvisor.com/servlet/ArticleNews/story/gam/20120416/NWCHINAYUAN0416ATL

I received my Certificate of Loss of Nationality via Canada post (regular mail).  It came with an accompanying letter from the Toronto Consulate.  It asks me to sign and return the letter acknowledging my receipt of the CLN.  The envelope also included my cancelled US passport.

I have some notes: Continue reading →

Guys and Gals, we have an opportunity to weigh in with comments to David Jolly’s NYTs article on Tax Complexity for American’s abroad.  It is not often the New York Times, the newspaper of record in America, does an article on our issues.  It would be a shame to miss the chance for some reasoned comments from Isaac Brock readers and commentators.

The article is now on their
blog, and can be accessed under the title Americans, The Taxman Cometh.  You will have to create a free account, but you can remain anonymous if fear is the reason you are being silent.  There are only six comments so far, and I know this group is capable of far more than that!   Thank you!

I spoke with Atossa Abrahamian of Reuters regarding my case.  Her article is now available online, and I am pleased with her general tone; she treats us favorably and does not accuse us of being tax cheats, like so many other journalists have done.