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

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

1. Spread the nes via bcc

   tony_coughlan@finance.senate.gov
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2. Hope they read it

   People have had enough notice ??????????

   I have written to the Senate Finance Committee and newspapers etc. that expats are NOT AWARE they may owe US tax. The MAJORITY of 8.7 million expat potential voters do not know thus the OMG (OH my God) moment.

   The streamlined program acknowledges this.

   I have asked that on International flights passengers should be asked by flight crew to fill in a tax related form for Americans visiting their elder parents and family.

   I have asked that the IRS fund a media campaign (newspapers, TV ads ,magazines. On the NEWS (thus relatives may inform expats).

   Instead of JUST asking for a SS # on new passports have a signed statement regarding US tax payments.

   To say that the 8.7 milllion expat Americans are AWARE is insane

   I believe that the amount of negative media attention this may draw would make the US embarrased of the CIVIL WAR CBT stance on tax.

   America is the the ONLY westernised country to have such a tax. Even our tax advocate Nina Olsen has stated the unfairness of this US policy.

   Some say tax treaties take care of this BUT for some countries this is NOT so

   REGULATED pension plans AND sales of expats ONLY overseas dwelling are taxed by America (WHY – benefits? ) In Australia this has NOT been changed for TWENTY THREE YEARS ( Australias Superannuation plan (NOT recognised in America as a certified pension plan) this and the sale of ones own dwelling are both tax free in Australia.

   Tax concessions given to American natives are NOT given in Australia thus VERY unbalanced

   America was FORMED on the idea that they would not pay taxes to a foreign country they no longer lived in (Britian).

   I talk to many ex American vets from the 60ies and 70ies and their opinion of the America today and its policies is shameful.

   I wonder if these people who gambled with their lives would have been so patriotic if they had acknowlwdged a time machine back then

   Please respond
   Jak Dac

   Streamlined Program Will Expire!

   Written by Larry Stolberg, CPA, CA | Posted in Expatriate • FATCA

   TaxConnections Member Larry Stolberg
   The updated Streamlined Program that was revised in June 2014 is a simplified method of allowing delinquent U.S. taxpayers to become tax compliant. If certain conditions are met, tax and information return penalties could be waived. Refer to my article on the website and the IRS site for additional information on the program.

   On December 17th at the George Washington University Law conference on international taxation, the Commissioner of the IRS John Koskinen said, “At some point, we will have assumed that people have had enough notice that they should have become voluntarily compliant,” “At that point—after some period of time and you’re not compliant—it will be assumed that logically you are purposely not compliant”.

   This announcement is a wake-up call as such amnesty programs do not last forever. Furthermore, with the advent of the sharing of financial information with Treasury under FATCA this year, it appears that it may be only a limited time for delinquent filers not to be discovered.

   https://www.taxconnections.com/taxblog/streamlined-program-will-expire-larry-stolberg/

3. What Giving Up U.S. Citizenship Really Costs
   December 22, 2015
   http://www.wsj.com/articles/what-giving-up-u-s-citizenship-really-costs-1450780200

4. The empire is complete! US guards with guns to patrol British airports. “The US Department of Homeland Security wants to introduce the scheme at airports worldwide. They would be given diplomatic immunity so they could not be prosecuted for any crime committed on British soil.”

   http://www.dailymail.co.uk/news/article-3367396/US-guards-guns-patrol-British-airports-time-controversial-new-plans-discussed-London-Washington.html

   Hitler should have sent in Gestapo “Homeland Security” agents instead of the Luftwaffe, it seems, for a bloodless conquest.

5. #FATCApictureContest
   https://twitter.com/BancB612/status/679555472043687936

6. http://www.newsmax.com/Finance/StreetTalk/fatca-Foreign-Account-Tax-Compliance-Act-american-expats/2015/12/22/id/706813/#CommentSection

7. @Neill
   Yeah- somebody who works at UBS just told a friend of mine today that they don`t open accounts for americans anymore.

8. @Polly,

   I have been expecting to have some of our UK accounts closed but nothing so far. In fact only one tax form to fill in and that was 2009 ish.

9. America Jumps The Shark
   http://www.huffingtonpost.ca/david-martin/america-jumps-the-shark_b_8855958.html

10. Where did I see this in the past few days? IRS aims to bring into compliance 90% of those who are not in any year. And as we may see US persons overseas may be like a red flag to a bull.

11. @Cheryl, that was a fascinating article. The person is likely on the left and does not like Trump but there is some interesting analysis in the work.

    The reality is that Trump AND Sanders are in fact speaking for a majority of the People.

    Has anyone noticed how the media and the left are not trumpeting that Trump is a rich man like Romney?

    The reality is that Trump is a populist somewhat in the vein of Reagan.

    Interesting comment on the collapse of the British Empire which began after WW1 and finished after WW2, a 25 year process. Its fascinating how that occurred in the pre-information era.

    Today we are interacting in real time over multiple time zones and thousands of miles. The USA decline because of instant information will occur faster than the British decline. The new empire is the BRICS which may last longer as they would have learned lessons from this fall.

12. @Cheryl,

    I think the very start of the article is wrong. People like Trump and Carson not because they have given up on the American dream. They think it’s diminished somewhat now with terrible politicians, political correctness, left wing craziness and executive overreach. They think Trump etc can turn the whole system upside down and get back to the American dream. Trumps main theme is ‘make America great again’.

    @George, The reason they are not talking about how rich Trump is is because he goes on at length how rich he is. He has made it his greatest strength. Listen to him explain how he doesn’t need donors money because he is incredibly rich. In fact the media have been trying to say he isn’t as rich as he claims to be.

    Trump worries me because I don’t know what he will do. I know Hillary will screw me so I am quite happy to vote for him though I prefer others. Trump could easily make the overseas problems worse.

13. @Neill, “Trump could easily make the overseas problems worse.”

    Its already toxic meaning disposing of US Citizenship at the earliest moment is VITAL to survival overseas.

    In regards to turning things around? It is no longer possible to service the US combined debt load. And lets not forget the neocons that went to war and have kept the USA in a continuous war by borrowing from China and relying on 2% of its families to send the men and women to fight in those wars. Sorry, they screwed the pooch and its over.

14. @Neill, I know not your words but how ‘make America great again’.

    I do know that math skills are not very good in America. The total of US/State Debt and unfunded obligations can no longer be paid according to terms. Other than 100% confiscation of all assets and that does not fund it all.

    Look at Ryan and the last budget deal? Seeing that reinforces why I left.

    And the USA went to war for almost 15 years whilst Americans went shopping. I do remember the last president telling his fellow americans to go shopping!

15. @Neil, in regards to the above I am NOT attacking you at all.

16. It may be framed under a pretense of patriotism but will really be just another excuse to extract money from the private sector.

    http://www.forbes.com/sites/mikepatton/2015/04/24/national-debt-tops-18-trillion-guess-how-much-you-owe/

17. @George,
    I am just talking about how people view Trump. I agree that the debt load is so great that some form of default has to take place. This can be high inflation or defaulting on bonds or not honoring the promises of medicare and SS.
    My most serious worry for my future is that the USG takes my stuff. I couldn’t leave even if I wanted to because of the exit tax.
    Debt load the world over is pretty bad mind you.

18. The forum for Drake tax software customers has a thread on the passport thing. One woman handling tax controversy says the bar is very low in practice. She sees clients way after the point that their passports could be yanked. I have asked her if she thinks the revenue raising potential is there.
    She thinks there is a some chance the IRS won’t actually use this power (it won’t make it into the IRM). This goes against the report that embassies are installing new equipment to use it.
    I hope to see more stuff in the thread. You can’t get access without being a customer though.

19. Controversy woman thinks it won’t raise revenue. Liens are a big stick for those that understand what they do and the passport thing isn’t as bad as these. The people she deals with don’t know very much. Few will be bothered by the passport threat.
    So this might actually be squarely targeted at expats knowing full well that the passport issue like FBAR is a huge lever to get the money.
    That seems amazing if it really was targeted this way. Heaven help you guys.

20. NEWS ALERT. As I don’t see it posted previously.

    Looks like 3rd lawsuit against FATCA in Israel (against FATCA IGA)
    Now lawsuits in Canada, USA, and sounds like Israel.

    Republicans Overseas Israel, A.R. et al. v. Government of Israel et al.

    https://www.facebook.com/republicansoverseas/posts/450153828501751

21. Republicans Overseas
    November 9 ·
    A major FATCA victory in Israel reported by Marc Zell, Republicans Overseas FATCA lawsuit plaintiff, Republicans Overseas Vice President for Mideast, and Chairman of Republicans Overseas Israel/Republicans Abroad Israel. Thank you Mr. Zell. FOR IMMEDIATE RELEASE
    As a result of the efforts of Advs. Marc Zell and Noam Schreiber testifying on behalf of Republicans Overseas Israel/Republicans Abroad Israel the other week before the Knesset Finance Committee, the attempt by the Israel Tax Authority to implement FATCA’s automatic data transfer and mass privacy waiver provisions has been thwarted. The proposed legislation will not deal with FATCA implementation when it goes up for a vote by the Knesset Plenum in the next few days. The Finance Committee accepted our argument that FATCA-related legislation should not be passed piecemeal, but should be reviewed in a systematic fashion when legislation now being drafted by the Ministry of Justice is formally introduced. This means that the US-Israeli taxpaying public will have an opportunity to present its manifold objections to FATCA to the Finance Committee some time next year.
    The Finance Committee’s decision to amend the Tax Authority’s bill reflects a serious concern about protecting citizens rights’ of privacy in personal data. Finance Committee Chairman, MK Rabbi Moshe Gafni, stated that “the members of the Finance Committee are zealous about the wholesale transfer of Israelis’ private financial information abroad. We are different from the rest of the world. We are very sensitive about this matter, because we are concerned that foreign tax authorities may be seeking this information for improper purposes.”
    Please share this with as many expats as possible.

22. https://en.wikipedia.org/wiki/Republicans_Overseas

    Mission
    The primary mission of Republicans Overseas is “To inspire and facilitate the 8.7 million Americans living abroad to engage in the U.S. democratic political process through elections, briefings and policy advocacy.”[2] Additionally, they state “Republicans Overseas provides two-way infrastructure to keep Republicans abroad politically well-informed along with a mechanism to direct their policy concerns back to political leaders and Presidential candidates.” As such, RO takes an active role in organizing voters overseas, promotes social media campaigns, advocates the Republican platform and principles, engages with the press, and hosts international events.
    History[edit]
    Until the passage of the Overseas Citizens Voting Rights Act of 1975, US citizens overseas could not vote in federal elections.[3] After President Gerald Ford signed this legislation into law, citizens living abroad were permitted to cast an absentee ballot in their state of residence.[3] Shortly after ratification, Republicans Abroad was established in 1978 to organize the estimated 3 million American overseas constituents, the majority of which were Republican.[4][5]
    Republicans Abroad hosted a weekly radio-show via wsRadio titled Republicans Abroad Radio.[6] The show aired live weekly for several years. Guests to the show included President Ronald Reagan’s Attorney General Edwin Meese III, Grover Norquist, and members of Congress.
    In January 2013, Republicans Abroad was closed. Later that year, in September, numerous members from the RNC founded Republicans Overseas, which is classified as a 527 political organization.[7]
    FATCA[edit]
    Repealing the Foreign Account Tax Compliance Act (FATCA) has become a leading priority for Republicans Overseas. As a result, the RNC, during their January 2014 RNC Winter meeting, passed a resolution to repeal FATCA with overwhelming support.[8] Additionally, in August 2014, the RNC unanimously passed a resolution supporting Residence Based Taxation,[9] and another resolution Opposing OECD’s Global FACTA Common Reporting Standards in January 2015.[10]
    RO views FATCA as violating fundamental constitutional rights of overseas U.S. citizens.[11] The law was passed by a Democrat controlled Congress in 2010, lacking a single House Republican vote,[12] and only 11 Senate Republican votes. The United States being the only First World nation that taxes its citizens living abroad,[13] many Americans are now denied banking privileges throughout the world because foreign financial institutions cannot justify enduring increased compliance costs due to new regulations, and refuse to be proxy agents for the Internal Revenue Service (IRS).[14] FATCA has faced considerable criticism, including from Democrats Abroad, the official expatriate wing of the Democratic Party. A lawsuit fighting against FATCA, Crawford v. U.S. Department of Treasury, with eight counts of constitutional violations, was filed on July 14, 2015 by Republican Overseas Action (ROA), a 501(C)(4) organization of RO.[15] The lawsuit currently has ten plaintiffs, including 2016 presidential candidate Senator Rand Paul.[15][16] Democrats Abroad condemned ROA’s FATCA lawsuit, specifically Senator Paul and James Bopp, Jr., the lawsuit’s lead attorney.[17] The RNC released a statement supporting RO and this legal undertaking.[18]
    See also[edit]

23. https://www.abolishfatca.com/live/

24. At their core,
    taxpayer rights are human rights.
    They are about our inherent humanity.
    Particularly when
    an organization is large, as is the IRS,
    and has power, as does the IRS,
    these rights serve as a bulwark
    against the organization’s tendency
    to arrange things in ways that
    are convenient for itself,
    but actually dehumanize us.
    Taxpayer rights, then, help ensure that
    taxpayers are treated in a humane manner.
    Nina E. Olson
    Laurence Neal Woodworth
    Memorial Lecture
    May 9, 2013

25. What presidential candidates are on our side ?

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