Best comment of the day goes again to omghe’sstillanamerican who found this ridiculous article about the IRS seeking a new public persona: IRS Seeks Some PR Help. This is an open thread (meaning you can share videos or stories that would be fun for everyone, or whatever you want).
Author Archives: Petros
From the archive: Open Letter to the Executive Director of the Society of Biblical Literature
This letter first appeared on December 8 (at the Righteous Investor), a mere four days before the official launching of the Isaac Brock Society.
A letter to the Executive Director of the Society of Biblical Literature, an association with over 8000 members, informing him why the author will not be renewing his membership: The US Federal Government is persecuting American citizens abroad of whom the author is one.
FATCA means Americans will pay more for things like Toilet Paper
FATCA could stand for “For Americans Toiletpaper Costs Alot”.
From the archives: Dialogue with brave Jim_in_Houston
From the archives of the Righteous Investor, December 4, 2011. Petros dialogues with a right-winger; it seems that few US residents, whether on the left or on the right, are sympathetic with the plight of Americans abroad and the masses of expats renouncing their citizenship.
FBAR: On the impossibility of a fair trial for expats
For transporting us beyond Seas to be tried for pretended offences … Accusation against King George in the Declaration of Independence
Miranda Rights, FBAR, and the IRS’s Offshore Voluntary Disclosure
This is a thought experiment regarding the Miranda Rights and how they might properly apply to OVDI and FBAR. If a big boy says to a little boy at school, “Give me your lunch money or I will clobber you on your way home today.” The teacher sees the little boy hand the money over to the big boy. The big boy says to the teacher: “He gave it to me voluntarily.”
UPDATE: Steven J. Mopsick, 30 year IRS Veteran has responded.
New Regulations Clarify How Non-US Banks Will Find And Report US Customers To The IRS: guest post
The Isaac Brock Society does not endorse tax professionals. However, I have been able to provide the following content, with permission, from Moodys LLP, tax advisors blog. It provides a useful summary of what FATCA will require the FFIs to do to detect the accounts of US persons.
Continue reading
John Nolan on the possibility of a Constitutional challenge to FBAR
From the archives of Phil Hodgen’s blog, John Nolan, August 27, 2011 | 3:19 am, wrote:
Steven Mopsick's blogspot and his latest post
Our new friend, 30-year IRS veteran, Steven Mopsick, has been a really good sport. He’s defended the orcs of Mordor, his former colleagues at the IRS fearlessly, and he’s taken our abuse like a trooper. He’s asked me if I wanted to put up his new post on FATCA, and I said to myself, why the heck not? Meanwhile, go have a look at his blog, especially this little piece, called FATCA Red Herring, which starts with this whopper, “For all the groaning about FATCA, there is one ‘red herring’ which should be given the lie right away, and that is the silly notion that FATCA is an attempt to force the application of U.S. law on foreign financial institutions.” Well, if nearly 400 pages of orcish regulation isn’t an attempt to force U.S. law on FFIs then I don’t know –but wait, these regs still hadn’t come out when Steven wrote that post–so you’re off the hook, Steve–I am being unfair.
Again, caveat emptor! The Isaac Brock Society maintains a non-endorsement policy of tax-professionals (see here). Also, please read not just the post, but the full comment stream.
New Rules For Foreign (Non-American) Banks with American Clients
by 30-year IRS veteran
Is a Certificate of Loss of Nationality really necessary? New FATCA regulations are in gobbledygook
Petros isolates the term “Certificate of Loss of Nationality” (CLN) in the new FATCA rules.
