— U.S. Citizen Abroad (@USCitizenAbroad) February 26, 2014
Thanks to @ShadowRaider for providing this update.
Here is the text of the bulletin.
— U.S. Citizen Abroad (@USCitizenAbroad) February 14, 2014
@Mopsicktaxlaw "When people fear the gov there is tyranny, when gov fears the people there is liberty" What's happening in America today?
— U.S. Citizen Abroad (@USCitizenAbroad) February 14, 2014
I am a fan of Mr. Mospick and his blog. Mr. Mopsick has done much to reveal the injustice of citizenship-based taxation. He has publicly stated his opposition to “citizenship-based taxation”. For this he deserves credit. His latest post, although ostensibly about FATCA, reveals much more. He confirms the erosion of privacy and the “one world” agenda of FATCA.
— U.S. Citizen Abroad (@USCitizenAbroad) January 27, 2014
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.
Rumor Has It – Another FATCA Delay? | Let’s Talk About: US Tax http://t.co/2cQEaAWz2K
— V. La Torre Jeker JD (@VLJeker) January 20, 2014
— Marvin Van Horn (@FATCA_Fallout) June 1, 2012
As I watch this video, I am reminded of the horrible horrible IRS abuse of Americans abroad. Also reminds of Badger’s suggestion for Americans Abroad.
Really, they should all just “have a Geithner”.
An online petition, aimed to make Toronto Mayor Rob Ford an honorary citizen of which country? MSN weekly news quiz http://t.co/earE8IRDwJ
— U.S. Citizen Abroad (@USCitizenAbroad) January 19, 2014
For those who don’t know Rob Ford is the Mayor of Toronto. Toronto is Canada’s largest city and (apparently the sixth largest city in North America). Some of you may know, that he has been having his problems with Toronto City Council. But, he has become an International Celebrity (giving him a priceless amount of free advertising in his bid for re-election). He is clearly a media sensation. He has been the subject of numerous articles including this interesting contribution by Conrad Black.
Whether he is loved or hated in Canada, Mayor Ford is loved in the U.S. In fact he is so loved that according to MSN Canadian News Quiz :
An online petition if acted upon by the U.S. Government would make Rob Ford an Honary Citizen of – you guessed it – The United States of America.
If I were Rob Ford, right now I might be thinking:
Well, there’s good news and bad news!
The good news is that I am so loved in the United States that they want to make me a citizen!
The bad news is that the U.S. government might deem me to be a United States citizen!
I thought it might be interesting for Brockers to comment on what it might mean for Mayor Ford to be a U.S. citizen living in Canada.
Let’s help the Mayor. He has helped many residents of Toronto.
Whether you support the Mayor or not, surely he deserves to know exactly how it might affect his life to be a U.S. citizen living outside the United States.
Please put aside your political differences, and offer Mayor Ford some advice …
(Oh, by the way, for the purposes of your comments, let’s make the reasonable assumption that Mayor Ford has a net worth that exceeds two million U.S. dollars.)
— U.S. Citizen Abroad (@USCitizenAbroad) January 18, 2014
This strong indictment from a Washington based lawyer Eileen O’Connor (who once headed the tax division of the U.S. Department of Justice) Includes:
Lost in the bewilderment about the Obama administration choosing which parts of Obamacare it would apply to which people and when, has been that it has been doing the same thing with the Foreign Account Tax Compliance Act (FATCA). The Administration has time and again delayed effective dates that were set in the statute. Nobody is complaining, though, because nobody can comply. Not the government, and not the financial institutions subject to the law.
Embedded in the charmingly-named HIRE Act, FATCA requires any financial institution anywhere in the world to report to the US government the results of any dealings it has with any person or entity subject to US tax laws. Just as nationalizing activities amounting to one-sixth of the national economy was a pretty tall order, so too was requiring global financial reporting.
Another problem with FATCA implementation is the intergovernmental agreements Treasury has been trying to negotiate around the globe. A few are in place; more are in the works.
Under the agreements, the foreign government agrees to require its financial institutions to provide information on US persons either directly to the IRS (a Model 2 agreement), or to the foreign government, which will then provide it to IRS (a Model 1 agreement). To entice foreign governments to enter into these agreements, Treasury has been promising to reciprocate, to the extent allowed by law.
The catch is that the reciprocation is not presently allowed by U.S. law. This is clear from the Administration’s budget request for 2014, the “Analysis and Perspectives” for which asks, on page 202, for the authority to reciprocate.
Rep. Bill Posey, R-FL, wrote to Treasury Secretary Jack Lew last summer, asking him to stop negotiating FATCA-implementing intergovernmental agreements with foreign governments, because his promise of US reciprocation is one on which he cannot deliver. Even if providing this information to foreign governments were permissible under US law, Posey believes doing so would discourage foreign investment in the US, thus depriving the US of capital that would otherwise be available for business formation and growth.
There are currently two great comments – perhaps you may want to add your thoughts.
— Paul Caron (@SoCalTaxProf) January 17, 2014
Last year Allison Christians presented at this event. Although, I don’t see anything on agenda about
international tax of foreign accounts taxation of the local bank accounts of Canadian citizens resident in Canada, some of you may find certain topics to be of interest.
It may provide some clues on the possibility of tax reform in general.