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)”

  2. Of course, individual choice and all that. I only mean it in a general way: money destined for the US treasury is money potentially lost to the UK economy, so not really in the UK’s interest to encourage (or “not discourage” if you will) compliance. Money spent abroad is also “lost” in the same sense, but at least travel increases aggregate happiness, unlike US taxes.

  4. Probably safest that way.

    However, were the US to get serious about hunting down Canadian duals with massive real-estate gains (as a generation that did very, very well sells off in Toronto and Vancouver) I would, in an ideal world, love to see the Canadian government stand up and say: “Compliance with these rules will cost the Canadian economy $X billion. We would rather you didn’t send the money away. We will protect you from any attempts to collect. It’s your choice, but we recommend that you not cooperate.”

    A fantasy, I know.

  5. I don’t get it, Nononymous. You object to the loss of privacy rights which FATCA has visited on US citizens, right? Yet you wish US citizens were also subject to lectures from the Canadian government, in their own home, ticking them off for not spending their cash in the correct way?

    Not other Canadians – just duals? Why?

  6. As a Canadian, I would prefer that a bunch of other Canadians (those afflicted with dual citizenship) not be paying US taxes. Siphons money out of the economy. Simple as that.

    I’m not suggesting anything coercive. I don’t see how it’s a lecture for the government to say “don’t do this if you don’t need to, we’ve got your back” – nor is it a ticking off to tell citizens that the US isn’t able to collect and won’t get any help.

  7. “something that is advantageous or good; an advantage:”

    Before FATCA, Canadian banks had X.

    After FATCA, Canadian banks now have X.

    Where is the benefit?

  8. “As a Canadian, I would prefer that a bunch of other Canadians (those afflicted with dual citizenship) not be paying US taxes. Siphons money out of the economy. ”

    I suspect we’ll just have to agree to disagree on that one. All hypothetical anyway. But I do think grownups are entitled to make their own financial decisions – even if they were born in America.

    “nor is it a ticking off to tell citizens that the US isn’t able to collect and won’t get any help.”

    The treaty states that neither State will collect from citizens who were citizens when the liability was incurred, as I understand it. (Or words to that effect)

  10. Individuals Sending money abroad for the individual’s benefit, not necessarily bad.

    Individuals sending money abroad for the exclusive benefit of a foreign nation, bad.

  13. Administrator

    Two items here IMO worthy of Brock features:

    They could be just a simple posting and requesting comments.

    1) America’s bizarre relationship with citizenship
    https://medium.com/@greg_99089/americas-bizarre-relationship-with-citizenship-4bb7d6ba2867

    2) Letter from Dutch government to Congress in defence of its accidentals.

    https://www.facebook.com/groups/citizenshiptaxation/permalink/1917200528369686/
    https://twitter.com/USAccidental/status/1037073868089974784

  14. Condor flying overseas to do seminars about renunciation in Sydney, Melbourne, and Auckland this weekend and next week; archive link only to avoid giving their website any hits
    https://archive.is/UnQKO

    Some social media threads, one from parents trying to avoid US citizenship for her kids, one from a UK unmarried mother trying to figure out how to get US citizenship for her kid without the cooperation of the US citizen father, filled with the usual Homelandersplaining about how the FEIE is such a great tax break and filing is easy
    https://www.econjobrumors.com/topic/can-visiting-scholars-with-kid-born-in-us-refuse-us-citizenship-for-kid
    https://www.reddit.com/r/legaladvice/comments/9di0lw/ukusawi_im_pregnant_after_a_fling_whilst/

  15. I’ve set up a Reddit account so I could advise the ‘Accidental American’ to do nothing until he’s checked out this website and the Facebook one for ‘American Expatriates’.

  17. https://www.nytimes.com/2018/09/10/opinion/google-right-forgotten.html?action=click&module=Opinion&pgtype=Homepage

    same article.

    This quote stands out.

    “As a matter of both law and international relations, few countries are willing to insist that the rest of the world be bound by their rules. Things should stay that way — particularly among countries whose laws meet international human rights standards, and vary only in interpreting things like the balance between privacy and speech rights.”

  21. Sounds like the TTFI talk was an over promise and under deliver rather than the other way around.

    Under #TTFI we asked exemptions for ALL retirement plans covered by #PFIC. But most likely only mandatory ones by local governments may get exemptions. That is what JCT & W&M Committee are working on & reason for TTFI legislation introduction delay.
    https://twitter.com/SolomonYue/status/1040523484026171393

    JCT wants “Qualified non-resident taxpayers will remain U.S. persons for the purposes of Subpart F, GILTI, and PFIC rules.” under #TTFI. So we want to carve out #PFIC for ALL or at least for mandatory retirement plans by local governments. We are still working on this last hurdle
    https://twitter.com/SolomonYue/status/1040562919371550720

  24. Not exactly a comment relevant to media etc but just thinking of Brock expats who may be in/near Hong Kong-after seeing the reports concerning the typhoon, sure hope everyone is okay.

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