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.
I said:
“Accurate numbers or even realistic guesstimates of those who have been refused accounts would be very helpful.”
An even more interesting question: how many USCs would there be outside America if US citizenship was entirely voluntary – if it had nothing to do with birthplace, and could be discontinued easily and cheaply?
Not nine million, that’s for sure.
Now that I’ve had time to read it in its entirety, that Reddit post is full of inaccuracies and exaggeration. Won’t bother listing them all, except for the biggest point of all. Most of what he/she is complaining about only impacts those who are compliant. Don’t be compliant, don’t have those problems.
Glad having to choose between life and no privacy is of such little concern for you, plaxy.
“Most of what he/she is complaining about only impacts those who are compliant. Don’t be compliant, don’t have those problems.”
Or renounce, if you are a dual citizen and can pay $2350. Renouncing is easy, for dual citizens with $2350. Tax compliance is not required.
But renouncing is only necessary if banks are giving you grief, in my view.
Nononymous – yes, I agree. If a USC can open bank accounts without being treated as reportable, they’re in the same position as if FATCA had never been invented.
I see the Reddit article ends with a link to a tax-consultancy,
Harry and Megan expecting baby
https://www.bbc.co.uk/news/uk-45861683
Wonder if they will register child as an American?
Not a cat in hells chance in my opinion. It’s quite possible that she won’t be able to having already relinquished. The subject and possibilities have been gone over in depth but usually by those with no idea how invasive and pernicious the US tax system is, because if they did they would not be suggesting that all will be fine as long as she has a separate bank account.
And of course the IRS already wrote to Meghan. 🙂
https://purpleexpat.org/wp/2018/05/21/what-would-meghan-markles-expat-hell-letter-from-the-irs-look-like/
@mike
It’s interesting that the press have stated that the child would qualify as having dual US and UK citizenship as if that is such a great gift.
Meghan could not already have relinquished as she would need to be married to Harry for 3 yrs to obtain British citizenship and she stated she would do things by the book.
But I would expect the IRS would tread carefully with her so as not to expose their pernious ways.
Excellent video from an expat in Poland with over 100,000 YouTube subscribers:
https://youtu.be/JehVgDogTEM
@Barbara
We’ve had same problem on the FB groups but I found a link that works (warning: heavy plugging)
https://www.cda.pl/video/26750793f/vfilm
@Patricia,
YouTube had a worldwide outage right after I posted the link. It works now. I think this video is one of the best I’ve seen to introduce the issues to clueless homelanders, especially since it’s under ten minutes.
Yes it’s all fine to have your account records held by FinCen. They will look after them:
https://dailycaller.com/2018/10/17/treasury-official-trump-buzzfeed-fbi/
@Barbara
I didn’t notice the YouTube outage until a bit later and didn’t think to come back and check. Thanks.
This fellow has a lot of material online as Kult America. I don’t know if any of the rest of it deals eith our issues but perhaps some would be curious.
https://m.imdb.com/title/tt5936872/
@Neill
Rare is the day I find myself agreeing with the Daily Caller or Fox News, but today is such a day. This person should be sent to the nearest Saudi consulate for special handling.
Slate podcast to which I have not yet listened:
Now Is a Good Time to Cheat on Your Taxes
https://slate.com/news-and-politics/2018/10/the-irs-wants-you-to-hear-how-ineffective-it-is.html
Amazingly informative update from Democrats Abroad on the TTFI bill and a surprise hearing about the “transition tax”, all without a single snide word about Republicans:
https://www.democratsabroad.org/carmelan/tax_advocacy_update_as_we_enter_the_2018_midterm_election_congressional_recess
http://www.investmentwatchblog.com/jewish-heres-how-to-pay-zero-tax-for-10-years/
Anyone else care to comment? I hate it when articles make emigration by Americans sound like a walk in the park. It ain’t easy, thanks to the insane US tax system.
Unfortunately Congressman Holding is under threat of losing his seat’
Does this somewhat enigmatic statement imply that redefining what is a PFIC might achieve a revenue-neutral score?
Wouldn’t such a change be a colossal new tax break for USC filers, I wonder?
“Does this somewhat enigmatic statement imply that redefining what is a PFIC might achieve a revenue-neutral score?
Wouldn’t such a change be a colossal new tax break for USC filers, I wonder?”
I doubt it. The “revenue-neutral Score” means that the US gov. loses no money by cutting taxes. Which means, if they cut taxes for some people, they raise taxes elsewhere.
Indeed. But where’s the raised taxes, in this proposal?
Dunno, but they always seem to slide them in, in the end. Not holding my breath….again.
If they retain control of both houses, presumably they’ll be able to bundle the Tax Reform 2 bills and Holding’s bill and pay-for measures and any …err… technical correction measures up into a single package and steamroller it through on a partisan basis using the reconciliation wheeze, as with the TCJA.