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Media and Blog Articles – part 2 of 11 (Year 2015)

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

If clicking on a comment link brings you to the wrong comment, click here  to get on the most recent page of comments.(alternatively, to reach the most recent comment page, go to  the url in the bar at the top of your browser and delete everything after http://isaacbrocksociety.ca/media-and-blog-articles-open-for-comments-part-2-of-2  )

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.  You could mention such articles in the comment stream for this page, or if I see one on another thread, I can copy the link to here. I’ll keep adding to the list, but not deleting, so we’ll end up having sort of a “bibliography” too.  [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.

Note also: JC suggests 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.

Be sure to read the comment stream for this thread — there are usually very recent articles mentioned there that are not yet on this list.

2015.01.01
Raising revenue off Caribbean backs, Bruce Zagaris, NationNews, Barbados.
On or about 2016.01.01
16 issues to make 2016 candy for the market, Westfield Times.
2015.12.31
Tax reporting norms: FinMin updates guidance note on compliance, K.R. Srivats, Hindu Business Line, India.
2015.12.30
Top Tax Blogs from 2015, Tax Connections. (Congratulations to John Richardson and Lynne Swanson who placed 2nd and 4th!)
Global dragnet puts pressure on tax evaders as year-end deadlines loom, Jeff Gray, Globe and Mail, Canada.
IRS Employee Whose Job Was Assisting Victims Of Identity Theft Charged in $1 Million Identity Theft Tax Fraud, Paul Caron, TaxProfBlog, US.
How America’s Wealthiest Are Saving Billions Through a Private Tax System, TruthDig.
RA Returns Home, TaxProTalk forum.
2015.12.29
For the Wealthiest, a Private Tax System That Saves Them Billions, Noam Scheiber and Patricia Cohen, New York Times, US.
IRS Stirs Up New Crisis With Non-Profits Over Social Security Numbers, Eric Pianin, The Fiscal Times.
DNC Must Heed Warning Bells From 2000, Bennet Kelley, Huffington Post, US.
2015.12.28
IRS Creates “International Practice Units” for their IRS Revenue Agents in International Tax Matters, Patrick Martin, Tax-Expatriation, US.
MF investors: Les than a4th comply with US tax law, Jayshree P. Upadhyay & Ashley Coutinho, Business Standard, India.
IRS service should improve after some saw their ‘worst tax season,” advocate says, Robert Schroeder, MarketWatch, US.

Articles from earlier in 2015 are at this link

 Articles from 2014 are at this link

Media and Blog Articles Open for Comment thread, Part 1 of 2, is at this link

Media and Blog Articles Open for Comment thread, Part 3 of 3, is at this link

1,837 thoughts on “Media and Blog Articles – part 2 of 11 (Year 2015)”

  4. Barbara. Watching that Dutch show, one can only be sad . These unfortunate people are getting bad advice. They need a local IBS.
    With luck, the show will provoke a reaction.

  5. http://www.nytimes.com/2015/07/10/us/office-of-personnel-management-hackers-got-data-of-millions.html?hp&action=click&pgtype=Homepage&module=first-column-region&region=top-news&WT.nav=top-news&_r=0

    US Govmint hacked agin.

    Jeez! I recently filed my FBAR with partial account numbers. I am accumulating press articles on govmint bein’ hacked to justify this approach.

    @Duke: Jeez!! That Dutch bunch of horror stories!!!! Which compliance vulture’s claws did these poor souls fall into, indeed!? There is no way the guy born in Holland of a US mother should ever declare anything!!! Just throw away the blue passport and forget about it!! As for the US born lady, for heaven’s sake, just feed the computer any SS number (or buy one online from China, ha ha), get your money out, open an account in hubby’s name, and get a CLN ASAP.

  7. Thanks, MuzzledNoMore,

    Hackers stole Social Security numbers from more than 21 million people and snatched other sensitive information in a recent breach of U.S. government computer systems, the Obama administration said Thursday.

    And, we would willingly send to the US our private Canadian and other country financial information and identities? How stupid would we / could we be?

  10. Gordon Pape – remember him being discussed in comments here at Brock? He wrote for Zoomer magazine / CARP. http://fundlibrary.com/features/author.asp?AuthorId=1047

    GwEvil noted that he has three things that make him mad. One is…

    Why do we put up with IRS meddling?

    http://www.thestar.com/business/personal_finance/investing/2015/07/10/three-things-that-make-me-mad-pape.html

    Trivia: Wikipedia says that Mr. Pape, Canadian author and publisher, was born in San Francisco and moved to Canada, as a teenager, with his parents in 1950. I corresponded with Mr. Pape in 2014, but did not get an answer. I have also commented on this Toronto Star article.

  12. Gordon Pape wrote in a brief article today a piece against FATCA in Canada, but doesn’t mention FATCA by name. It was in the Saturday July 11th Star -print version – and he asks people to contact him with “things in the financial world that really irritate ….”

    “What makes you mad when it comes to money and investing? Send your thoughts to gordonpape@hotmail.com and write Star Comment in the subject line.”

    Here is the online version of the article:
    http://www.thestar.com/business/personal_finance/investing/2015/07/10/three-things-that-make-me-mad-pape.html

    : By: Gordon Pape Building Wealth, Investment Columnist, Published on Fri Jul 10 2015

    I’m normally an easy-going guy, but there are some things in the financial world that really irritate me. Here are three of them. I’d like to hear about yours.

    The IRS

    We’ve all heard the horror stories about the U.S. Internal Revenue Service pursuing thousands of dual Canadian/American citizens, demanding that they file tax returns dating back decades and imposing heavy fines for non-compliance.

    It turns out it’s not just dual citizens in this country that they’re after. It’s everyone with a hint of U.S. citizenship, no matter where in the world they reside………

    “I am not an American citizen. However, that hasn’t stopped the IRS from poking around in my financial affairs as well. Last week I received a letter from RBC Dominion Securities insisting that I complete a U.S. W8BEN form for my brokerage account. RBC promised they would not share the information with the IRS, adding: “We are simply required to have it on file to continue to offer you the preferential tax rate and confirm your non-U.S. status.” And who do you suppose “requires” RBC to have this information? One guess..”……….

  13. Oops calgary, I posted before seeing your post re Gordon Pape. Admins, please remove my comment above as redundant.

  18. The Dutch tax authorities response to the Dutch Nieuwsuur program “IRS on the hunt for Americans Overseas” follows (translated):

    “The FATCA agreement that the Netherlands concluded with the US manages how data regarding American taxpayers is provided to the American tax authorities, the IRS. The question of which citizens are liable to tax under US regulations was not on the agenda. Every country determines who exactly are its taxpayers. The United States determines tax liability based on nationality.

    Concluding the FATCA agreement allows the exchange of information on American taxpayers to take place via the Dutch tax authorities and financial institutions in the Netherlands need not themselves deliver data directly to the US. In consultation with the Dutch Banking Association (NVB) there are guaranties for residents of the Netherlands who are also American citizens that suitable financial services are available.

    The FATCA Treaty was adopted this year by the Dutch Parliament. As of September the (Dutch) tax authorities will transfer information regarding American taxpayers to the IRS. ”

    http://nos.nl/nieuwsuur/artikel/2044332-amerikaanse-belastingdienst-maakt-jacht-op-nederlanders.html

    http://youtu.be/8jgD9yW-sJw

  19. Read this one: John Hanson says that Five days prior [to renunciation appointment], I was asked if I’d be interested in having a major network’s “News” show (think 60 Minutes) tag along with me. He says he was not suitable for this. But then who did they pick, who was this person, and what network show was this? Mystery. Need some Isaac Brock detectives.

    The Tax Offensive Starts On Tuesday July 14, 2015
    https://cafemoi.wordpress.com/2015/07/12/the-tax-offensive-starts-on-tueday-july-14-2015/

  20. Interesting aspect in that excellent post, The Tax Offensive Starts On Tuesday July 14, 2015, posted by John Hanson at Café Moi (regarding the Bopp litigation (hopefully) to be finally filed on Tuesday, July 14).

    Thanks, JC. A mystery that may not get solved until such media coverage is released.

    Of course, the DOS might have something to say about a media crew showing up to film someone’s actual renunciation (and in a country outside the US) — seems to me it would be (almost) impossible for them to go beyond the security of a US Consulate for the actual renunciation.

  21. With cameras rolling, everybody would be on their best behaviour too. All smiles and friendliness.

  22. I seem to recall Liam Pleven with WSJ being denied entry to the US consulate when Atticus renounced.

  23. There is something strange about the Dutch news report . In spite of their having been born in Holland and having only tenuous needs to file, the two gentlemen mentioned have set up a website that offers a service to refer Dutch victims to appropriate help . Hopefully not compliance condors. They receive a fee from the consultants.
    http://www.americansoverseas.info
    Americans Overseas wants to make sure your path to compliancy is a more simple, direct and cost-efficient one. We provide free access to a carefully selected network of professionals [link to article on selection] who are qualified and experienced in the complexities of US tax compliancy.

  24. @bubblebustin: Guess future renunciants trying to bring the media in will have to claim they don’t speak English and need the journalist and cameraman as a witness. (Then State will update the FAM to say that witnesses must sign a non-disclosure agreement “for the protection of the ex-citizen’s right to privacy” or some equally silly extralegal garbage.)

  25. Here is a video from Carrick Talks Money in today’s Globe and Mail.

    Does it make financial sense to renounce American citizenship?
    http://www.theglobeandmail.com/report-on-business/video/video-carrick-talks-money-does-it-make-financial-sense-to-renounce-your-us-citizenship/article23612232/

    Terry Ritchie of Cardinal Wealth Management gives the “come clean” bath. (Hello? We’re not dirty!)

    (Terry Ritchie is Director of Cross-Border Wealth Services with Cardinal Point.) http://cardinalpointwealth.com/terry-ritchie-joins-the-firm-as-director-cross-border-wealth-services/

    Mr. Ritchie says something I have not heard before. He says upon renouncing, there is an “immediate 30% tax imposed” on RRSPs.

    Does anyone know where that came from? I have not heard of anyone renouncing who has had to pay that and don’t recall ever reading that. Is that accurate? Is it fear mongering? Is it related to the Exit Tax?

    Rob Carrick concludes:

    “I think you just convinced me not to suggest people renounce. It’s just too much trouble and too much money.”

    There is no mention of folks who relinquished years or decades ago. There is no mention that people are being forced into renouncing so they can have normal lives. There is no mention of FATCA, FBARs or FinCen.

    There is no mention of how much trouble and how much money it is to not renounce or relinquish.

    We need to see if John Richardson can do a video with Rob Carrick.

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