Trusty Robert W. Wood at Forbes covers-off the new “how-to” video collection the IRS has released to help Foreign Financial Institutions navigate their way through the terrifying new FATCA Portal of Mordor. As it turns out, the greatest immediate danger to FFI drones might be falling asleep and hitting their heads on their mahogany desks as they attempt to watch these stultifying videos in their entirety.
As Mr. Wood concludes:
The videos may make registration a little easier. They may even give foreign financial institutions a warmer feeling about the process. Individual viewers, particularly Americans abroad who may feel caught in FATCA’s net, are less likely to give these films a thumbs up.
I am beginning to enjoy his use of colorful language…
Seems like I have heard that somewhere before… 🙂
@Just Me
And let’s not forget DATCA and GATCA, those other now-essential contributions to the lexicon 😉
Like The Force, the multiplier effect of the internet is strong.
Definitely one of many great Justmeisms 🙂
I take it those vying for a future Palme d’or have nothing to fear.
I’m so glad the banks are getting so much attention and help with this. Too bad nothing of the kind is available for those most affected.
@AtticusinCanada
Precisely. But don’t forget, like everything else with the USG, FATCA (and OVDI/OVDP) information is on a need-to-know basis. You don’t need to know anything because that would only undermine the tax and penalty raising goals of the entire entrapment exercise.
Check out this opening in the IRS for Deputy Chief, Criminal Investigation.
https://irs.usajobs.gov/GetJob/ViewDetails/350283000
“If you are a male applicant born after December 31, 1959, certify that you have registered with the Selective Service System or are exempt from having to do so”
Do Americans still have to register for the draft?
Unfortunately as of this Friday I will not be eligible to apply.
@Kermitzii,
That’s great. I remember you saying at the lunch at Vancouver Art Gallery, that your 2nd and final appointment was on September 6th.
Look forward to hearing how it goes. And yes, although there is no longer a draft, they still must register at age 18. When I attended my 2nd appointment at Vancouver, there was a family with a very young son. The father was asking the clerk, if in case of war the son could choose to serve in the Canadian military instead of the U.S. military. The response of the clerk was ‘you seem to know more about it than I do’. I wanted to shout at the family – run, run as fast as you can!
@kermitzii
Re: Selective Service (Draft Registration)
Essentially all American males, including those residing outside the US, must register upon his 18th birthday. He is draft eligible between the ages of 18-25. Failure to register can mean disqualification from holding federal government jobs, denial of federal student loans, and in some states, disqualification from holding a driver’s license. All males must register, even those who are disabled. If the draft is reauthorized, it is the military recruiter who decides whether you are fit for service. See website below for more information on the Selective Service Act, yet another example of American ridiculousness.
http://www.sss.gov/default.htm
Registration got re-instated during the Iran hostage crisis–they nailed those that had just turned 18 at the time. War is a great thing to unify the people.
Not only do they need the draft but, the military is really hurting with people doing multiple tours. They have been in big trouble for underhanded recruiting practices over and over again.
I have a nephew who is functionally autistic. By functioning I mean he gets by but, if you met him you would immediately know he was autistic. He was actively recruited by the Marines and not only that they trained him as a sniper and sent him to Afghanistan. He is or rather, was a sweet boy. Now he is fixated on his activities as a sniper and talks non stop about it. I have to try and distract him when I am around him at all. It’s a disgrace what has happened to him. In the state where he resides military recruiters got into big trouble a few years ago for recruiting practices such as the ones that drew in my nephew. They even convinced his parents they would take care of him and that they were experienced with autistic soldiers saying that they were really well suited to some jobs.
THAT is how desperate they are. I am ever, ever so grateful my son is Canadian and no way in hell will he be registering for any draft. I have seen what they do to young people down there and it is tragic.