Just received another update on the activities of Democrats Abroad’s FBAR/FATCA Task Force. Previous posts can be found here and here.
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 (firstname.lastname@example.org), Stanley Grossman (UK), Maureen Harwood (Canada), Carmelan Polce (Australia), Maya Samara (Switzerland) and Joe Smallhoover (France)
@Badger, Very well said!
@Badger: Send it–Soon!
This is the same Richard Neal that said that “we need to use the tax code to boost retirement savings and personal savings as well.” to help Americans save for retirement – but, apparently not all Americans, only those who live INSIDE the US. All the rest of the Americans should be formed and penalize into dust – and not allowed to use registered savings where they work and live – if it is in ‘foreign’ banks anywhere else in the world – except in the US. He is also in favor of simplifying the tax code (except for us
“No Tax Reform Without Incentives for Retirement Savings, Argue 2 Congressmen
At Washington event, Republican and Democratic congressmen push resolution to retain current tax incentives
By Melanie Waddell, AdvisorOne
February 16, 2012
……..”Neal commented that the “stunning” statistic that half of Americans go to work each day and aren’t covered by a retirement plan at work is just another sign that “we need to use the tax code to boost retirement savings and personal savings as well.”
The bipartisan resolution provides that it is the “Sense of the Congress” that:
tax incentives for retirement savings play an important role in encouraging employers to sponsor and maintain retirement plans and encouraging participants to contribute to such plans;
existing tax incentives have increased the number of Americans who are covered by a retirement plan; and
a reformed and simplified Tax Code should include properly structured tax incentives to maintain and contribute to such plans and to strengthen retirement security for all Americans.”
To be accurate, the proposal should really say ‘except for all those Americans who ‘choose’ to live outside the US. For those, the ‘Sense of Congress’ is that they be fined and form-ed into oblivion.
One rule for those inside the US, and only more complexity, denial of the same rights, and oppressive penalty punishments for those outside. Who apparently, according to the ‘voice of Congress’, don’t have or deserve to “boost retirement savings and personal savings”. Congress’s voice doesn’t speak the same language of empathy to us if we’re born or move or live outside the US.
So… What has Joe Green said about the hearings? Did anyone listen to what he had to say? I thought not! 🙂
Well, the FATCA hearings came and went, and did you see a lot of US media coverage? But of course not. I was wondering if anyone would report back on what Joe Green had to say, but since I heard nothing, I went looking. Below is the transcript of his testimony….
So do you think anyone asked or cared about that survey? How many copies got handed out. Did the IRS representatives request or get any? Friends, after reading all the testimony with note one question asked, the feeling I got was this was just a passive one ear listening exercise, (kinda like my wife accuses me of listening to her) and then back to the work of making everyone comply!