#Americansabroad in Belgium and FATCA law?, Antwerp forum http://t.co/vgwSccg6J9 – blocking bank card until USness disconfirmed!
— U.S. Citizen Abroad (@USCitizenAbroad) January 27, 2014
Article includes:
So my husband’s bank account was blocked and he couldnt use his card anymore. He went to his bank to see what the problem is. he thought maybe his card was not working right.
At his bank they told him that they blocked his account and that he couldnt get his money. They got their orders to block all US citizens accounts until they can prove that they dont owe taxes to the US.
pukekonz
bitcoin not great timing
CEO OF BITCOIN EXCHANGE ARRESTED
http://www.businessinsider.com/report-ceo-of-major-bitcoin-exchange-arrested-2014-1
I am skeptical about Bitcoin and freedom. I think the goal is to create a cashless society. Then the banksters and governments will be in control of everything.
“Will New Bitcoin Backdoor Extensions Keep Bitcoin Ahead of Government Snooping?”
http://www.economicpolicyjournal.com/2013/03/will-new-bitcoin-baackdoor-extensions.html
George III,
TaxConnection is one of the many I have commented on to try to educate others. I don’t want Pacifica to edit my post.
Calgary 411 I just feel this lawyer is trying to push people into compliance.
from that lawyer website
“If you are not already in compliance, we recommend hiring an experienced IRS attorney well versed in FBARs and the new FATCA law. Why an attorney? Unfortunately, accountants don’t enjoy the same attorney/client privilege that lawyers have. That means the IRS can obtain your records from your accountant even without your permission.
Coming into compliance is easy with professional help. Once you are in compliance, a good expat tax service or CPA should be able to file future FBARs for you at minimal cost.
The risks of noncompliance are simply too high to try navigating the initial back reporting alone. With a good attorney, you may be able to avoid most or all of the penalties if you can demonstrate that your failure to report your foreign bank accounts was not willful. (The current base amnesty penalty is 27.5% of the highest account historic account balance but as noted, that can often be reduced.)”
Sound like he is trying to rush people into compliance including FBAR which may not even be required for an 8854. In addition he has this comment
“Another option is to simply close your account and open an account elsewhere. The IRS is expected to seek information on Americans who closed accounts in advance of the new law.”
I see nothing like that in UK Facta agreement.
@GeorgeIII
Fear mongering is very profitable.
I notified my MP about the Belgium bank block. I am waiting his reply.
George III,
I am NOT advertising or promoting this website or person. If you check, the FATCA articles he has written, I have tried to give better information, as have others from Isaac Brock. I think it horrid if there are no comments to counteract what is spewed in these articles.
Northernstar
I just do not want people to link to fear mongering lawyer. I did not even post his address even though I always post websites threads.
Petros had a great description of them but I can remember the name.
Calgary 411
By linking to his site someone may go there and read the fear mongering and sign up. Was he the lawyer who changes his tune from the original article.
George III,
Do you know how many links there are here at Brock and also Maple Sandbox to fear-mongering articles? I and I think most here read the comments to get the other side of the story. We spend much of our time trying to turn around readers of fear-mongering articles.
The administrators can’t just go in and edit something out of person A’s post because person B asked us to. We can technically, but we decided right at the start we would not do that. If you have a problem with a comment, you can post that online, as you did, requesting the person delete something they wrote – or you can e-mail an administrator, who will forward your request to the person – but it would be up to the person to decide what they want they do, or not do, with their comment.
I wouldn’t worry about someone who’s reading Brock being taken in by scare tactics. It’s good to keep on top of what tactics the compliance vultures are using. As well some scare tactic articles are open to comments, which gives Brockers an opportunity to rebut the scare tactics with the truth, which is invaluable to the less-informed reader of such article (and hopefully has made some think twice).
Here are the articles Brian Mahany has written: http://taxconnections.com/taxblog/author/brian-mahany/
Yes, I have commented:
in the last (re FATCA) is titled: THE CANADIANS STRIKE BACK – FATCA POST REVISITED,
as in the previous: CBC Distorts “FATCA Facts”
and perhaps some others he’s written. I will continue to do so.
I am only worried about newbies who go to a place where a lawyer says comply including FBAR which is the big penalty and may be avoided. The word lawyer make some people think they are the wonder of the world and you must obey.
For example Bubblebustin
“Our adventures in OVDI began last August when we read about it in the press. With only a week or so before the deadline to file for the 90-day extension, our priority was to first seek the advice of a US tax lawyer. We were told that ignorance of the law was no defense. After analogies involving boogey-men with chain saws from our well respected but exhausted lawyer, we decided to enter OVDI in order to become tax compliant at the first opportunity.”
sorry forgot attribution for above
http://isaacbrocksociety.ca/2012/03/17/a-story-from-ovdi-hell-or-how-to-exact-tribute-from-a-country-without-firing-a-shot/
@ Rev Susia, @ Tricia….. I would like to get involved with the equivalent of IBS in UK. lemme work out a way to contact you guys.
@crystal london
I really want to help with this as well. Could you please contact me over on twitter? I am @Kyla4u.
If there’s going to be some UK action I’ll do what I can to help. No longer a ‘US person’ but with several USP friends who are affected. And still angry at the US for reneging on the US/UK tax treaty and causing this huge mess, and at the UK for capitulating so completely and eagerly to FATCA. It seems like we’re very small in number on this side of the pond, but maybe we can raise some awareness. The email address for my account here is entirely bogus, but Pacifica has my real one.
@watcher, @ rev susi, @Expat in the UK, @tricia
how many of you are coming to the London info session on 2 march 2014 please on “how to fix problem of US citizenship abroad? agree we need critical mass in london
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So basically we will have to justify why we need our money that we put into their banks? What kind of nonsense is that. The rich have already dealt with their *hidden* money & so have real criminals (not us criminal tax evaders… poor & middle class) If I was a real dang criminal….don’t u think I would be smart enough to really hide it. Not be stupid as a rock & leave out for the world (gov’t) to see? I also see articles that basically say… all our private info they will get… becomes a library… anyone can check it out. There are already cases of stolen identity from the govt & the response is…. too bad… too sad…. not our problem u criminal
Oops… still new to this… hope I did it right
http://www.internationalman.com/78-global-perspectives/1077-shutting-off-the-money-tap?acm=36423_238
Article on AXA Bank France Closure of Accounts of U.S. citizens in France and customers with U.S. addresses (in French) with picture of the letter they are sending out.
http://www.lepoint.fr/economie/axa-banque-ferme-les-comptes-de-ses-clients-americains-en-france-06-02-2014-1788961_28.php
This is weird. I have bumped into this advertisement twice in one week, at Newsmax and the MSNBC web sites, pretty viable places. It is annoyingly long, a sales pitch for this dudes book/conference, completely over the top “out there” (IMO) and he seems a wack-o-bird but he is showing up all over the place. Don’t waste your time listening unless you run it whilst doing the laundry.
This is the add and then the link to his site:
Write Down This Date:
July 1st, 2014
On this date, U.S. House of Representatives Bill “H.R. 2847” goes into effect. It will usher in the true collapse of the U.S. dollar, and will make millions of Americans poorer, overnight. You now have just several months to prepare…
http://www.endofamerica.com/?gclid=CJa8iOu6yb0CFfFFMgodcxsAeQ
@Charl
There were some problems with the analysis, but perhaps not what you would expect. The analysis of the position of the dollar in and of itself was quite credible, BUT
a) You can’t look at the position of the dollar without looking at what is going on in other countries. The euro has lost its luster and there are concerns about the stability of the Chinese economy. For the dollar to lose its status, other currencies would have to take over. I have heard that the euro has taken over in the criminal trade because there are some very high value euro banknotes/bills.
b) Whether the debt is sustainable depends a lot on how much of the U.S. debt is owned domestically versus by foreigners.
c) The analysis of why the pound ran into trouble neglected to mention that it was not just the expansion of the welfare state but also the British government continued to spend a very high percentage of GDP on defense instead of plowing the money into rebuilding the country.
It could very well be that FATCA was about keeping U.S. dollars in as much as anything else.
I’m passing this along for anyone who is interested in gold (I know very little on this subject) / learning more about gold (from an email comment sent to me):