This was harder to find than I thought it would be. I can’t see any potential complications for my kids. When my wife applies, she’ll just say my non-US nationality. Notice the 3-4th to the last question from the bottom. Sigh.
Filesonic.com has bitten the dust – almost. They have turned off all file sharing capabilities. But I have noticed something: until now, it is only foreign websites that are being targeted. Meanwhile, American companies such as Mediafire.com, Box.net, and Google continue on as normal. US authorities can’t possibly deny that there is zero copyrighted material on American servers.
Could this the FATCA equivalent to the file sharing world, where the US deems that servers outside of their control are “bad”?
This is almost becoming a joke. I doubt the US taxpayer is even aware of this. Today the site owner of Megaupload.com was arrested in New Zealand and will be extradited to America. The charges: facilitating copyright violations.
I will never forget reading in late 2010 about the situation of the Canadian-Americans and many Americans living in Europe: to become compliant with the IRS and US Gov, they had to hand over large portions of their life savings to America, a country that provided them with zero benefits living in their host countries. I thought this “criminal” on the part of the IRS to sneak-in with such a thing. This has contributed to at least 60% of my decision to renounce because I want nothing to do with countries that engage in such under-handed behavior.
If you’re a US citizen in Australia, you’ve probably already heard about this case. The case involves Larry Williams, an American futures trader, who was apprehended in Australia. The IRS alleged that he had evaded taxes to the tune of 1,5+ million.
The story is here: http://www.mainstreet.com/article/moneyinvesting/
After commenting many times that I would like to see a case where the US Government / IRS actually went after Americans living overseas, I finally found something. The story (dated 2009) is here: http://ticotimes.com/costa-rica/irs-goes-after-us-income-expats-in-costa-rica
Here’s the story:
The date of the Bloomberg article is older, so this is most likely when Mr. Reiss was charged. He was sentenced on 11 Dec. 2012 for a 1,2+ million FBAR penalty. I could be wrong, but this appears to be the first DOJ case against a non-US Citizen working in America was charged. The rest had been mostly a few US born resident-nationals, and many foreign naturalized US citizens, some of who even earned their money abroad and paid taxes abroad, yet the IRS is desperate to get their piece.
IRS voluntary disclosure programs allowing wealthy Americans to come forward and disclose their hidden accounts
Not surprisingly, I saw this article this morning: here. The US has put banking sanctions on Iran, except those transactions within the scope of the energy market. When are people going to figure it out? Sanctions and prohibition just don’t work. All it does is push banned activities onto the black market, which usually end up hurting the lowest classes the most. Continue reading
The US is all about having total world control. The FACTA is merely the largest extension of this scheme to date. US citizens who live abroad are still required to file US tax returns even though they receive no real benefit from any US Government services. The US Government’s true desire is to have leverage over the maximum number of people, companies, and whole countries that they possibly can. I think this fact alone explains the $450 renunciation fee. They simply don’t want to lose control over people. It’s not really Continue reading