Author Archives: swisspinoy

“Bank of Hawaii is closing the accounts of Iranian nationals living in the state, a move that is angering Iranian activists and civil rights supporters.”

“It’s “outrageous” for the bank to take such action.”

“This is an extreme case, because even in the letter they say it’s not based on transactions,” Pourjalali said. “The accounts are closing based on citizenship.”

“We strongly urge for Bank of Hawaii to reverse this discriminatory action and to ensure its policies do not violate constitutional and legal protections for U.S. persons”

Source

FATCA is a US federal crime which violates the American constitution since it has caused Americans living abroad to be denied banking services due to their citizenship.

Source: US tax program? Who cares…

Source: US Program: Foreign banks profit

According to the latest news, Americans with Israeli bank accounts could face troubling tax season, the Swiss “Program” is now being forced upon Israel.  Citizens of Israel living in Israel are now being pressured or forced into OVDP so that their retirement savings can be cleaned up by attorneys and US money grabs.

Here are some interesting clippings from the article which ring a bell:

• The banks are revealing the data because they are participating in a special program with the U.S. Department of Justice in order to avoid criminal prosecution themselves
• Americans with Israeli bank accounts may be in for a financial nightmare in just several months if they haven’t filed their taxes properly.
• Americans are able to take advantage of the Overseas Voluntary Disclosure Program (OVDP) for people who have violated the law.
• Americans with Israeli bank accounts really need to talk to an attorney
• OVDP is to give individuals who really did not know about the law a chance to make good, and to get people back into compliance and back into the system

National Taxpayer Advocate, Nina Olson, is being ignored.

27. December 2013.  Translated by SwissPinoy from annabelle

Alice Neuhaus (27), Photographer, explains: How is it really, to voluntarily discard the US passport?

I only spent the first three years of my life in the USA. As such, discarding US citizenship should be staged emotionless.  What can one actually feel for a country in which one did not grow up?  When I was still a child, my family moved in a rhythm of every four years, internationally. From this, evolved the question to which country I feel that I belong.  I was a dual citizen through the European heritage of my parents and my birth in the USA with both passports being a symbol of my rootlessness.

Nevertheless, the day that I discarded my US citizenship was my saddest.  After all, US citizenship was my only nationality for the first 12 years of my life and I was greeted with “welcome home” whenever I travelled to the States.  Banal, but this feels good when one is constantly on the move.  Having to fill out a form to abandon a part of one’s identity feels like betrayal, like something that is right in the mind but wrong in the heart.

The appointment at the American embassy is led with a 45 minute telephone interview, in which I had to explain why I didn’t want to be an American anymore.  The passport, for which I was previously envied, has now become an obstacle. I felt myself as being disadvantaged in Switzerland.  It is a current form of racism. Over and over again, I was the objective of principle-rants to the tax dispute between the United States and Switzerland.  I was denied banking services because I was required as a US citizen to give information on my financial matters for the purpose of reducing local bank risks.  Other dual citizens also have problems finding employment in Switzerland since they are required to report to the US the business accounts that they would manage.

Being required to pay taxes to the US government never bothered me, even though I don’t live there.  Yet, the many deadlines, obligations and laws that I was unaware of made me feel insecure and the growing hostility against Americans made me angry.  I’m not responsible for American law and its financial system.

The waiting list in Bern to renounce US citizenship is one year.  Since I’ll be going to an embassy in a different country, the wait time will be reduced to three months.  I read forum contributions by other dual citizens and have had long conversations with Americans living abroad in Switzerland.  Each one tells me something differently: One is US taxable seven years after renouncing, another says ten years and again another claims that one would be prohibited from traveling to America.  In the meantime, I know two things for sure:  If and how long there will be a tax obligation depends upon one’s financial situation.  And, I can travel to America like any other tourist.

At the US embassy, patriotism is hanging in the air.  Americans are heartily welcomed.  I described my concerns to the lady at the counter – and I am no longer a member.  It is as if I changed teams with half a sentence.  I was questioned by the general consul, paid near 400 Euro and confirmed twice that I was aware of the consequences of this action: All American citizenship rights would be revoked. I’m not allowed to vote in America, cannot stay there indefinitely and am not allowed to work there.  Are you sure? The general consul asked.

If I’m not too young to make such a decision?  I’m not sure. I live in Switzerland and feel good here.  I don’t want to move anywhere.  The general consul believed me.  That is important because not everyone who wants to renounce is allowed to.  The request will be revoked if the belief exists that one is evading taxes or the law.  Three months later, the stamped invalid US passport and loss of citizenship papers lay in my mail box.  I should feel relieved.  Yet, I’m simply sad that I felt forced to decide between the nation where I live and work, and the land where I was born.

The Committee for a Responsible Federal Budget (CRFB) is currently having a nice little chat about how it can best use the Foreign Earned Income Exclusion to double-tax non-US economies.

The Tax Break-Down: Foreign Earned Income Exclusion

The Foreign Earned Income Exclusion, it says, “is designed to prevent a US taxpayer who moves to a high-cost country from paying more taxes than a similarly situated taxpayer in the US, since the standard deductions are not adjusted for a higher cost country.”  Oddly, it makes no mention of compensating individuals who pay more taxes in other countries so that everyone pays the same.

Since they allow comments and might publish mine, I contributed my 2 cents, for what it is worth:

In 2001, during the dot-com crisis, I couldn’t find work in the US and thus moved to Switzerland to work instead of collecting unemployment checks or food stamps.  I did not move because of taxes or to pay less or more in taxes, but rather to earn money to pay debt interest, to buy food, to buy clothing and to buy shelter.  I migrated to acquire the basic essentials required for survival.
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Queen Noor is a US citizen, she’s wealthy, she is not filing her U.S. tax returns, hasn’t filed FBAR and hasn’t been paying U.S. taxes.  Yet her tax evasion is honored by the IRS and many stateside Americans who frequently express great hostility against the middle class Americans living abroad, but never lift a finger against some wealthy tax evaders like Queen Noor.

She claims that she lost her U.S. citizenship, but the claim is invalid. To no longer be a U.S. citizen, one must officially renounce or relinquish at an embassy and demonstrate 5 years of tax compliance.  There is no such thing as an automatic loss of U.S. citizenship.

Lisa Halaby, daughter of a Pan American World Airways executive, became a Jordanian citizen when she married King Hussein in 1978. She says she automatically lost her U.S. citizenship but never renounced it.
Time – Queen Noor

Washington, D.C. (November 6, 2013)

A bipartisan bill has been introduced in the Senate with the goal of simplifying income tax collections for taxpayers who work abroad.

Senators Sherrod Brown, D-Ohio, and John Thune, R-S.D., led a bipartisan group of senators Tuesday to introduce the Mobile Workforce Abroad Income Tax Simplification Act, legislation that would simplify and standardize expat income tax collection for employees who live outside of the US.

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It is no secret that FATCA teaches Americans to be racist against Americans.  Just 4 hours ago, another stateside American honestly admitted that FATCA had caused him/her to be racist against Americans:

Ah but you leave out that countries charge expatriation or repatriation taxes. You get a 95,000 exemption on your Federal taxes which is significantly more than the poorest person in this country but you want more. Ok how about a repatriation taxes that equals 30% of networth upon returning or the equivalent of Federal income taxes for the years you were gone. You can now move completely overseas without giving up citizenship but also probably never return. You people disgust me.
U.S. expats cry foul over tax system

Who are these “people”?  Americans.  This stateside American is disgusted with Americans, thanks to FATCA.  FATCA teaches the American people to hate Americans, as demonstrated.

Traces of FATCA are slowly emerging in Argentina, where FATCA has been fighting for decent work without workplace violence and  defending the rights and health of the working people.

“Trabajo digno sin violencia laboral. En defensa de los derechos y la salud de las personas que trabajan”
FATCA.org.ar

FATCA has also been fighting to eliminate a “law for profit” which seeks to force persons of any national origin to pay a tax to enjoy the benefit of citizenship work.

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The European Parliament has voted to suspend its SWIFT data exchange agreement with the US.

They’ve called for US access to the SWIFT database to be halted following concerns that the US is spying on the EU, and not simply trying to combat terrorism.

EU lawmakers suspect that the US has abused an agreement giving it limited access to SWIFT.

http://www.euronews.com/2013/10/23/european-parliament-votes-to-suspend-its-swift-data-exchange-agreement-with-the/