Liberty and justice for all United States persons abroad

The Isaac Brock Society

Media and Blog Articles Open for Comments – Part 5 of 11 (Year 2018)

You can access all years at this link: Media and Blog Articles – Links for All Years

If clicking on a link brings you to the wrong page in the comment stream, click here to get to the most recent comments.

Media and Blog Articles

EmBee suggested that it would be good if there was a thread for new articles, so that people would be aware of where to comment.   So, I created this permanent page.   I’ll make a permanent list of links posted here and keep adding to it,  but not deleting, so we’ll end up having sort of a  “bibliography” of FATCA/CBT articles.  [Note:  Some articles are not open for comments]

For more articles on FATCA, enter FATCA into Google then click on the link “more news for fatca” just below the most recent featured article.

Notes:

From JC:   To see #FATCA on Twitter for latest breaking news.  JC finds that is quite a good source and there even are some international articles that one may read using Google Translate.   Others may help certain tweets and articles remain in elevated position by retweeting them.

From Badger:   On an important archival note, please use the Internet Archive Wayback machine https://archive.org/web/ (see bottom right ‘Save Page Now’ box to enter URLs of webpages you want saved for posterity, and try to save backup copies of articles and other items of interest in some other form – such as a datastick or external drive. Some important and very significant webpages and the fulltexts of articles are no longer available (although some can be retrieved if someone using the Wayback machine saved them).

Be sure to read the comment stream for this thread — there are usually very recent articles mentioned

2018.12.23
New bill could lessen tax woes for Canadian residents with US citizenship: but the outlook is bleak for thousands grappling with Trump’s repatriation tax, Elizabeth Thompson, CBC News, Canada.
2018.12.21
Tax Fairness for Americans Abroad Act of 2018!  Let’s Get This Passed! Anthony Parent, John Richardson, Keith Redmond, IRS Medic. US.
TTFI bill introduced today, great news for Americans living in Canada, Reddit Forum.
FATCA: Significant Relief in New Proposed Regulations, Jeremy Naylor, Amanda H. Nussbaum and Martin T. Hamilton, Mondaq.
2018.12.20
Tax Fairness for Americans Abroad Act, Democrats Abroad.
2018.12.19
TCJA and US Expats, Karen Alpert, Fix the Tax Treaty, Australia.
2018.12.18
Why Banks Have Become Judge, Jury & Prosecutor and will Shut you Down Judged Guilty for Nothing That is Actually Illegal, Patriot Rising.
20`18.12.17
IRS Issues Proposed FATCA Regulations, Adrienne M. Baker, Joseph A. Riley and Jeff J. Kang, Lexology.
2018.12.13
IRS Issues Proposed Regulations on FATCA, Other Reporting Conditions, ABA Banking Journal, US.
2018.12.11
How the IRS as Gutted, Paul Kiel and Jesse Eisenger, ProPublica, US.
2018.12.08
December 2018 International Tax Reform Updates- FATCA -GILTI – TTFI, Anthony Parent interviews Keith Redmond and John Richardson, IRS Medic. (video)
2018.12.05
Explaining GILTI – Individual Impact, Karen Alpert, Fix the Tax Treaty, Australia.
2018.12.03
Luxembourg: Exchange Of Information Vs Data Protection: A Brave New World Of Transparency, Antoine Dupuis and Guilles Sturbois, Mondaq.
2018.12.00 (December 2018 edition)
EU parliament versus FATCA, Financier Worldwide.
Newsletter, Purple Expat.

 Articles from earlier in 2018 are in the Media and Blog Articles 2018 Archive.  Links to previous years’ archives are also at that link.

1,714 thoughts on “Media and Blog Articles Open for Comments – Part 5 of 11 (Year 2018)”

  1. Nice work, Eric. I linked your Relinquishment Wiki post just yesterday when someone on FB criticized an accidental for thinking that not renewing her passport was tantamount to relinquishing US Citizenship. I said there are a lot of misconceptions and confusion out there regarding intent and relinquishment. For example, Boris Johnson thought he could verbally relinquish his US citizenship in an airport when an airline refused to let him board without a US passport. Intent counts for everything when it comes to relinquishing acts, but they are specific to the five you mentioned in your Wikipedia post. Is it a stretch that someone would think that by not renewing their US passport they may have relinquished their US citizenship? I don’t think so wherein fusion abounds and intent counts for so much.

  2. @Eric,

    >Those who have earned qualifying wages for at least forty quarters are eligible to receive benefits, while those who have not are ineligible.

    The totalization agreements allow you to get the forty quarters using your work history in a foreign country contributing to it’s equivalent of SS.
    Note that people with foreign SS equivalent contributions are penalized via the WEP.based on their foreign pensions.

  3. Oops. Last sentence should have read, “I don’t think so when confusion abounds and intent counts for so much”.

  4. Eric: Wow! What a mammoth task you undertook! Thanks to you we now have a one-stop shop with everything people need to know about renunciation all in one place on a platform that is familiar to just about anyone. Thank you for your excellent work!

  6. Thanks, Eric, for the time and your considerable efforts to include concisely what you have accumulated of this ignored subject, now so very well presented in an internet source / Wiki that many go to when first trying to learn / have their questions answered on a subject. Kudos.

  9. I’m not sure how it actually works but to non Americans the process of the US gov seems very very strange.

    It seems that dozens or even hundreds of bills are introduced without a hope of getting anywhere. The speakers have complete control over what gets voted on.
    Many of these bills are introduced solely to gain publicity for the sponsors.

  11. https://www.politico.com/story/2018/04/20/trump-west-wing-staff-translator-538589

    This article details how difficult it is for staff to manage Trump.

    “Today’s White House is full of people who have the president’s ear on narrow issues, …”
    It mentions new adviser Kudlow:
    “… National Economic Council Director Larry Kudlow, who advises Trump on taxes and economic issues,…”

    Who could ask Kudlow to whisper to Trump that the IGA’s are bad Obama era régulations? Or perhaps he’d be open to RBT?

  12. Maybe.

    …with markets rattled over the prospect that Trump would push for more tariffs that could spark a global trade war, the selection of Kudlow, a veteran of both the Reagan administration and Bear Sterns & Co, served as a signal that there would continue to be a voice advocating the benefits of unrestricted international commerce.

    “He is a cheerleader for growth,” said Neil Dutta, head of U.S. economics at Renaissance Macro Research. “He regularly says ‘Free market capitalism is the best path to prosperity.’ He is a forceful advocate for open markets and trade liberalization, and more generally an economic libertarian who favors low taxes and less regulation.”

    https://www.bloomberg.com/news/articles/2018-03-15/kudlow-plunges-into-new-role-as-trump-s-warrior-on-u-s-economy

  13. Some on the American Expatriates Facebook group is claiming that the 2017 “Stop Tax Haven Abuse Act” (cited above) has been moved up the agenda. I’m not sure how to verify this. But if it passes, then really, that’s it for me. Lord only knows what the “unintended consequences” will be. I’ll apply for asylum in North Korea rather than put up with any more of this sh*t.

  16. “EU May Blacklist U.S. As a Tax Haven After OECD Review (1)”

    “The European Union may add the U.S. to its blacklist of tax havens if an OECD panel concludes its new tax law breaks bloc rules.

    The EU sent a letter on March 15 requesting OECD analysis of the U.S. tax reform, according to confidential documents seen by Bloomberg Tax. It is assessing whether the U.S. should be placed on the EU tax haven blacklist for violating EU corporate tax criteria, according to the document.

    Earlier this month the EU asked the Organization for Economic Cooperation and Development Forum for Harmful Taxation to conduct a “fast-track” review of the tax changes.”

    https://www.bna.com/eu-may-blacklist-n57982090327/

  17. Your link certainly contains some positive news. I just hope the “exploring” and “fine-tuning” become real action that will result in relief for us in the extremely near future.

  19. Thanks, JC. My son has, in my mind, only fictitious deemed USC. I don’t recognize that his deemed status should allow a trojan horse confiscation of Canada’s tax dollars and confiscation of my family’s dollars in outrageous yearly compliance and reporting fees, not to mention deemed entrapment into such fictitious status by virtue of his (or any other such person’s) lack of requisite mental capacity. Common sense was at one time a virtue.

    If only the OECD in the age of Automatic Exchange of Information and Common Reporting Standard, did not allow the US to be the exceptional country of CBT, above other countries of the world as they continue to get away with fictitious use of the term *residence* which anyone’s common sense tells them is the country in which one actually resides and carries on life’s duties, including banking and paying taxes in the countries in which one actually RESIDES. One country of residence per person PERIOD and taxation to match.
    http://isaacbrocksociety.ca/2018/02/21/what-is-tax-residency-episode-2-with-john-richardson-olivier-wagner/comment-page-1/#comment-8197423

    Post Script: Still my view: http://isaacbrocksociety.ca/2017/10/06/should-people-deemed-u-s-persons-having-zero-meaningful-relationship-with-u-s-be-forced-into-some-irs-compliance-to-be-free-tell-aca-what-you-think/comment-page-2/#comment-8015629 and interesting the DOS mindset to go with the other quotes shown:

    Department of State (DOS) persons have “sympathy” for such cases. However, the developmentally disabled person will have to have FULL understanding of what he’s doing; if any question of lack of comprehension and grasping meaning and importance of ramifications, they could NOT approve such a case. From DOS point of view, U.S. citizenship is precious and they have therefore established fundamental requirements for “compelling reason”. Even though there is the risk that a person’s financial resources could run out before his/her life was over, they will never approve a renunciation for financial / economic reasons. DOS has NEVER had such a renunciation case approved due to “compelling circumstances”.

  21. Patricia: Great to hear about the NBC news coverage next weekend. Could you please post details when you have them? Thanks!

Comments are closed.

%d bloggers like this: