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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)”

  1. September 21st is FATCA and Expatriate day at the TaxConnections Internet Tax Summit online event! Join Michael DeBlis, John Richardson, Frank (Chip) Hider, Ephraim Moss and Joshua Ashman for their presentations on these topics. See the Agenda and their presentation teaser clips – https://www.taxconnections.com/internet_tax_summit. Not able to attend? You can purchase the recordings of all presentations so you can see them over and over. https://www.taxconnections.com/internet_tax_summit/checkout

  3. “Many policy makers are of the view that only these wealthy individuals (e.g., those earning US$500,00 or more) are those who are renouncing U.S. citizenship.

    The author’s experience is that many individuals without significant incomes and assets are choosing to renounce U.S. citizenship for the various complications they experience in their lives. They include the following for U.S. citizens who reside outside the U.S.:

    Incurring the costs and time required to comply with U.S. tax law requirements – even if no U.S. income taxes are owing (i.e., FBAR filings annually, IRS Forms 5471, 3520, 8864, 8858, etc.).

    Being forced to close their bank accounts in their home country of residency, since the financial institution no longer accepts U.S. citizens as customers.

    Risking violating their residency country laws (sometimes with severe consequences) that prohibit dual nationalities as a matter of law.

    While some of the negative consequences of U.S. citizenship have probably been exaggerated by those who gain to benefit from the exaggerations, there are indeed real world consequences to many in their day to day lives.”

    http://tax-expatriation.com/2015/09/04/tax-foundations-heres-how-much-taxes-on-the-rich-rose-in-2013/

  5. Has this been shared here? Rare partial legal victory against FinCEN:

    http://www.americanbanker.com/news/law-regulation/tanzanian-bank-scores-rare-win-against-fincen-1076393-1.html

    You need a “free trial” membership to read it.

    Tanzanian Bank Scores Rare Win Against Fincen

    WASHINGTON – A foreign bank that sued the U.S. Treasury’s Financial Crimes Enforcement Network won a preliminary injunction suspending an action that would have cut off the bank’s access to dollar funding.

    Last month, Fincen finalized a rule designating FBME, which is the largest bank in Tanzania but operates mostly in Cyprus, as a “primary money laundering concern” and invoked a special measure that would deny the bank access to the U.S. financial system.

    The bank contended that Fincen’s actions were capricious and did not constitute due process. It said that the agency withheld both confidential and nonconfidential information that would have assisted the bank in addressing its missteps that allowed illicit funds to flow through the bank. It said that if the special measures went into effect as planned, they would effectively kill the bank.

  6. Barbara: The Tanzanian bank’s victory in getting an injunction against FinCEN is hugely good news! It gives us hope that injunctions against US government bodies *are* possible! By the end of this long month maybe there will be another!

  9. @Calgary411 & Barbara

    It doesn’t work for me unless I go to Google News, and put a pasted copy of the URL (and I am not signed into WSJ so it should work for others, if it doesn’t I am clueless…).

  11. sometimes you can put a link into google translator under any language and translate it to English. This might get you past a paywall

  12. @Tricia Moon: Then you or a moderator should edit out (or just leave the first three paragraphs from) the reproduced text from the American Banker article, and of course leave the link. Anyone who wants to read the article from AmericanBanker.com needs to merely set up a temporary account with a made-up e-mail address, and give themselves a job in the finance industry (for the mandatory survey as part of the sign-up). (I’m now CEO of a bank, which has nothing to do with FATCA)

  13. @Barbara

    I have amended as you described. However, I could read the whole article from your link even though I have not subscribed. I have noticed this in the past; a link provided by someone else works but does not if I enter the URL myself. I wondered if somehow it reads the “click” as if it were the person providing the link (who likely subscribes?)? At any rate, thanks for pointing this article/story out – very interesting!

  19. Maybe I was not aware, and maybe you don’t want to see, Moody’s has their own “mini” site about FATCA.
    http://fatca.moodysgartner.com/
    They twittered it: https://twitter.com/moodysgartner/status/641354085933826048

    and I responded:
    https://twitter.com/JCDoubleTaxed/status/641374315191992320
    https://twitter.com/JCDoubleTaxed/status/641375348538503168
    https://twitter.com/JCDoubleTaxed/status/641381451972284416

    Generally, I see those seeking remedy for the injustices gaining the upper hand – crowding out compliancers etc – on Twitter at #FATCA

  21. IRS Gets Tax Data From India As Black Money Hunt Hits Americans Too
    Robert W. Wood Sep 8, 2015 @ 10:42 PM
    http://www.forbes.com/sites/robertwood/2015/09/08/irs-gets-tax-data-from-india-as-black-money-hunt-hits-americans-too/

    Busy right now so will not land one in there. India only signed onto FATCA recently. The reporting there has been completely oblivious that FATCA is a one way street. India itself is trying to crack down, and have used sign up with FATCA as part of bluff and intimidation that their residents with “black money” elsewhere are going to be found.

    I tried to land comments on the articles in India, but either have been blocked or they don’t care.

  23. Jeb Bush is set to speak to US expatriates

    Interesting to see what he says article sent to Senate Finance Committee members and some aussie emails

  25. @JC,
    loved your tweets to the USCompliancer-in-Chief – resident in Canada – re the Moody’s mini-FATCAnatic site.

    Canadian firms like that imported US FATCApologists who came prospecting up to Canada in order to tap into what they see as the new goldrush (the compliance industry generated via the massive tax treaty gaps that allow for the US extraterritorial taxation on the sale of our Canadian family homes, TFSAs, RESPs, RDSPs, mutual funds, businesses with US partners, FBARs, FATCA, etc. etc.).

    And our pushback on FATCA and US extraterritorial taxation and subjugation of those in Canada and other non-US countries is getting in the way of priming the pump with fear and with their “resist no longer” message that FATCA is not only here to stay, but the sales pitch that FATCA is good for us!

    I so hope that the FATCA industrial complex in Canada is thwarted.

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