(Source http://www.taxesforexpats.com/expat-resources/foreign-tax-credit-american-expats.html)
(Source http://wikiposit.org/)
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Author Archives: Jefferson D. Tomas
When one passport isn’t enough — CNN article about dual nationality
In this article, tax issues are mentionned, but no word about the life destroying effects of FBAR, FATCA and double taxation on Americans living abroad.
Also, the mention of Kenya as a country that doesn’t allow dual nationality is wrong, since the new constitution voted in 2010.
When one passport isn’t enough, by Maria LaMagna
Raiffeisen announces (again) that it is getting rid of American clients.
Another article about Swiss banks getting rid of clients (dual-nationals included). Interesting that Raiffeisen already announced this at the beginning of the year (following the acquisition of Wegelin). Many Raiffeisen clients are also “societaires” as the bank is a cooperative institution (similar to a credit union) and I wonder how the bank can exclude people who are not only clients, but shareholders.
http://www.lematin.ch/economie/argentfinances/raiffeisen-separe-clients-americains/story/10424823
I already wrote a response to the article, please everyone do so. Unfortunately there is a limit of 400 characters and you need to sign up somehow (with Facebook for example).
What astounds me is that no one seems to have yet sued or filed criminal charges for discrimination (at least that we have heard).
Banque Coop is also mentioned in this article for closing accounts as well. Oddly enough, their motto is “FAIR BANKING”.
A few years ago, Raiffeisen said that it would continue to offer services to Americans in limited circumstances. Also, the BCV (Banque Cantonale Vaudoise) got rid of clients resident in the US, but did not exclude keeping clients living in Switzerland:
http://archives.24heures.ch/actu/economie/bcv-lache-clients-etablis-sol-americain-2010-09-10
NDAA Blocked by Federal Court
Was anyone aware of this injunction (news broke mid-May) or did I miss a post since we discussed this in March (http://isaacbrocksociety.ca/2012/03/01/where-is-america-headed/)?
http://www.courthousenews.com/2012/05/16/46550.htm
http://en.wikipedia.org/wiki/National_Defense_Authorization_Act_for_Fiscal_Year_2012
Here is a PDF with the decision of the Court: http://sdnyblog.com/wp-content/uploads/2012/05/12-Civ.-00331-2012.05.16-Opinion-Granting-PI.pdf
Poll on Accounts Closed due to FATCA
Another experiment: please participate if you have time: Poll on accounts closed due to FATCA
Obamacare Confirmed by Supreme Court (with some limitations)
English: http://www.bbc.co.uk/news/world-us-canada-18630837
Swiss French: http://www.rts.ch/info/monde/4105523-la-reforme-sante-d-obama-passe-la-rampe-de-la-cour-supreme.html
Here is the text of the SCOTUS ruling: http://www.supremecourt.gov/opinions/11pdf/11-393c3a2.pdf
I don’t have much to say about this yet. I would like to read through the ruling first. I think that universal health care coverage is a good idea (as long as there is some flexibility and freedom of choice, e.g. the Swiss system). However I don’t think that Obamacare should have been introduced in the middle of a recession. FDR did something similar in the 30’s with the introduction of some social programs that homelanders still have access today, but the national debt wasn’t in the 30s what it is today.
As I said elsewhere at Isaac Brock Society, I seem to remember that the final Obamacare bill exempted USPs abroad from the insurance requirement. I believe that insurance companies will no longer be able to discriminate on the basis of pre-existing conditions from (2014?), however I am not sure that this applies to USPs abroad who return (those that really want to after all Unca Sam has done to mess up our lives).
The list of atrocities keeps growing
To add to the threats presented by the NDAA, execution of US citizens without trial when the President deems them to be terrorists, and all of the other police-state/totalitarian and unconstitutional practices of the US, here is an anecdote that absolutely disgusted me.
A friend of mine knows a Swiss lady who is married to an American. Their child is also American (I am not sure if (s)he is/was also Swiss). Her husband went to work in the US. In Switzerland, an intended immigrant that doesn’t need a visa to enter can apply for a residence permit after entering on a tourist visa. Without realizing that Homeland takes a dim view of intended immigrants arriving on tourist visa-waivers, the lady went to the US without applying for a visa first, and then went to Homeland Security to apply for a green card. They forced her to sign a paper admitting that she entered the country illegally (under threat of arresting her, taking her child away from her and turning it over to social services), and exonerating Homeland for any wrongdoing.
I don’t know if she tried to apply for a visa subsequently from Switzerland, but the final result was that she went back to Switzerland with her child and her husband left the US and has never gone back. I don’t know if the guy has renounced or is just a full ostrich.
An agreement signed under threat is not an agreement. What happened was pure terrorism on the part of Homeland. Another example of the US applying their officious rules in ways that can destroy families.
Glossary Thread — Jargon of IBS, and groups that deal with common issues
This thread seeks to assemble a list of our jargon words, with definitions, examples, and links where appropriate. I don’t have much time to write all of the terms and definitions, so I propose we collaborate on it. Continue reading
Press Release Thread
May we please continue with the work in the Press Release Thread? I suggest we finalize, please vote.
