Well today one of my children was able to renounce U.S. citizenship. The monkey of U.S. citizenship is now off the back of one more Canadian citizen.
Daily Archives: May 3, 2012
Obama brings Romney's offshore accounts into the campaign
ICYMI: Obama attacks Romney over Swiss bank account (at UBS, closed in 2010 after IRS crackdown began) nyti.ms/Io7dib #fatca
— David Jolly (@davjolly) May 3, 2012
RT @fp_magazine Can poor people open a Swiss bank account? bit.ly/IDTEAF
— David Jolly (@davjolly) May 3, 2012
On December 6, 2011, Barack Obama began his campaign for re-election with a speech in Kansas. That speech made it clear that this campaign will be about “class warfare”. Obama refined this theme in January 2012 State of The Union Address. Obama’s strategy is simple and clear. It’s to tell the people of America that they can use the democratic process to elect Obama, who will in turn transfer wealth to them. Continue reading
Transcript of the one and only Congressional hearing ever held on FATCA
I wanted to finally provide the transcript of the one and only Congressional hearing ever held on FATCA before it passed into law.
http://democrats.waysandmeans.house.gov/Hearings/transcript.aspx?NewsID=10411
Observations:
Even in 2009 there was significant opposition to the law
Congress really didn’t know what the hell they were voting on there were almost no witnesses invited other than from Treasury. ACA for example wasn’t invited to attend. Almost none of the committee members asked any relevant questions.
The public service of the US Treasury Department badly wanted this legislation however, by not informing Congress that much about it I suspect it will be public servants who will walk the plank when the you know what hits the fan.
Thank you and congratulations to Mr. Steven Mopsick – He is now part of ACA Tax Advisory Panel
@mospicktaxlaw Congrats to @acavoiceand to Mr. Mospick onappointment to the ACA Professional Tax Advisory Panel – aca.ch/joomla/index.p…
— U.S. Citizen Abroad (@USCitizenAbroad) May 3, 2012
@mopsicktaxlaw @acavoice Way to go Steven!
— Noble Dreamer (@nobledreamer16) May 3, 2012
Democrats Abroad urgently requests “expat tax stories” for May 15th IRS hearing
Just received another update on the activities of Democrats Abroad’s FBAR/FATCA Task Force. Previous posts can be found here and here.
From: demcan@sympatico.ca
Subject: FBAR/FATCA Relief Efforts Underway: Tell Your Story Now!
Date: May 3, 2012 1:11:52 AM GMT-04:00
Dear Democrats Abroad member,
Your FBAR/FATCA Task Force has created two instruments to drive home our efforts seeking relief from potentially draconian fines and penalties in relation to new tax filing requirements. We are gathering data from overseas Americans to use in advocating for amendments and reforms to FATCA. We need your urgent participation in this effort!
1. Take our survey to record your circumstance as an overseas citizen and taxpayer. It is completely anonymous and can be found at http://www.surveymonkey.com/FATCA_FBAR
2. Tell us your story of managing your tax affairs as an expat American. If you have a tale of woe and frustration to tell then please go to http://www.ExpatTaxStory.us where you can post your story on a completely anonymous basis.
The Task Force has received an invitation to appear at an IRS hearing on May 15 in Washington. Having results from the survey as well as the website will strengthen our position at the hearing. So please complete at least the survey by May 9.
QUICK UPDATES ON OUR ADVOCACY EFFORTS:
Since our last update a few weeks ago:
Meeting with IRS and Treasury: Your FBAR/FATCA Task Force has continued to work with senior staff at both the IRS and the Treasury Department. Indeed, thanks to Congresswoman Carolyn Maloney’s efforts, Task Force member Joe Smallhoover attended a meeting in Washington DC to accommodate the presentation by various groups representing Americans Abroad to IRS and Treasury officials of our concerns about the tax filing and compliance requirements. A summary of that meeting is expected shortly.
Submission to IRS on FATCA Proposed Regulations: We have made a formal submission to the IRS in response to that agency’s request for responses to its February 8 release of proposed FATCA regulations, and we have asked to be invited to speak at the May 15 hearing on those proposed regulations.
Meeting with National Taxpayer Advocate: We are arranging a meeting with Taxpayer Advocate Nina Olson; whose 2011 report to Congress is highly critical of IRS handling of overseas tax filers.
DPCA Resolution on FBAR and FATCA: We have submitted a formal resolution to the DPCA Resolutions Committee for discussion at the May global meeting in Mexico. If passed, Democrats Abroad will then submit that resolution to be considered for inclusion in the Democratic Party 2012 Platform.
BUT WE STILL NEED YOU!
Please click here to take our anonymous survey and here to post your anonymous expat tax story.
Your DPCA FBAR/FATCA Task Force,
Joe Green (Canada) Chair (demcan@sympatico.ca), Stanley Grossman (UK), Maureen Harwood (Canada), Carmelan Polce (Australia), Maya Samara (Switzerland) and Joe Smallhoover (France)
