Liberty and justice for all United States persons abroad

The Isaac Brock Society

Media and Blog Articles Open for Comments – Part 3 of 11 (Year 2016)

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-3-of-3  )

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” 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.

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 aren’t on this list yet.

2016.12.29
Switzerland moves further to end bank secrecy, Financial Times, UK.
2016.12.23
How FATCA Infringes and Trammels our Statehood, Stephen Kangal, Trinidad and Tobago News, Trinidad and Tobago.
Barclay’s chief preparing to take a stand against US regulators over unduly high fines to European banks, James Quinn, The Telegraph, UK.
2016.12.22
Canada refuses to name bank that broke money laundering rules 1225 timtes, Mike De Souze, Robert Cribb & Marco Oved, National Observer.
Financial Intelligence agency gave bankers head up about money laundering disclosure, Mike De Souza, Robert  Cribb & Marco Oved, National Observer.
2016.12.21
US citizens may pay double tax on Kahlon’s child savings program, Michael Zeff, Jerusalem Post, Israel.
Applying to be Swiss in the Trump Era, Steve Krump,  SwissInfo, Switzerland.
2016.12.20
File That Tax, Boom Chicago, YouTube, Netherlands.
Tijuana City Councilman Faces US Money Laundering Charges, Sandra Dibble and Dana Littlefield, San Diego Union, US.
2016.12.19
Senate Report Finds IRS Agents Living Large on Public’s Dime, Guillermo Jiminez, Tax Revolution Institute, US.
AG to UNC: Come to Parliament first – a Joint Select Committee to deal with FATCA . . ., Ria Taitt, Daily Express, Trinidad.
Rand Paul criticizes framework of tax reform plan, Naomi Jagoda, The Hill, US.

Articles from earlier 2016 are at this link

Articles from 2015 are at this link

Articles from 2014 are at this link

Media and Blog Articles  thread, Part 1 of 3, is at this link.

Media and Blog Articles thread, Part 2 of 3 is at this link.

 

2,818 thoughts on “Media and Blog Articles Open for Comments – Part 3 of 11 (Year 2016)”

  2. I paid a similar amount to renounce in the UK. I added it up, 5 years tax and informational forms, 6 years Fbars and the renunciation fee and all with no tax owing. I wasn’t exactly an accidental American but similar circumstances in that I only spent childhood in the USA.

    The thing is you have to pay this money to renounce or enter the system and not renounce. One less year to just come into compliance but still going to be a hefty fee unless you can risk doing it yourself. I didn’t want to take that risk.

    When I tell family members of this cost, they don’t believe me. Articles like this help me show them it is actually true. Thanks for posting.

    One big factor in all this is all the friction it has caused and still causing with US relatives. They just don’t believe and keep saying yes but this doesn’t happen to everyone when i tell them of a fact and i say yes it does or will eventually! Like I would just wake up in the morning and decide to renounce for no reason. However I am not letting it get to me anymore.
    .

  3. @UK Rose,
    It looks likely that Chuck Schumer will be in a position of considerable power next year. So the screws for those wanting to expatriate are going to get tighter. He loves these rules and the barriers they produce.
    I have to hold out another 3 years before I can start draining my UK pensions and then lose all foreign accounts. I am hoping he leaves me alone till then.
    They are crowing again about the revenue generated by OVDP etc so there will be no stopping them. It’s just free money from those not paying their fair share.

  4. @Neill
    That is what I was afraid of, waiting the then being trapped. After my OMG moment, of course I researched and got informed. This website helped a lot so I am so grateful. What I learned was that expat law has neither stood still or improved but worsened especially in the last 5 years. so I thought the trend would continue. In the very beginning, I experienced utter confusion that all this could be true. So I went into compliance with the sole intention of renouncing.

    I also made sure to use a UK based tax preparer. I thought if I am going to have to spend this extortionate amount of money on accountancy costs, I want the money to stay in the UK. I also wanted to be in the same city for questions etc.

    Yes I hope he does leave you alone. We are all in this together no matter where in the journey we are.

  5. Charl: Loved the item you posted! Although I’m not a fan of anarchy either I completely agree with many of the views that were presented. My respect for governmental authority has been deeply undermined by our FATCA/CBT experience and my trust is gone completely.

  7. That embarrassing, condescending video begged for a reply for those out-of-touch Canadians to mind their own business (even as the US never minds it’s own business). Sunny and sappy *cute* hogwash doesn’t cut it in commenting on the tragedy the USA is facing and for all the world to witness.

    Canada, the business you should be minding is the sovereignty of your own country and protection of your own people.

  10. I agree, Calgary, but what about that condescending “Oh” that has to come before “Canada” every time they mention our country?

  12. bubblebustin.

    Right — and all part of the purposeful comedic distractions we all have to live with, while the real issues are not adequately discussed.

  14. Sorry to cross-post here, but this is worth sharing in a more frequently-read thread:
    ——-
    Add your official support to Rep. Meadows’s bill to repeal (most of) FATCA, on Popvox. Invent a US zip code, log in and vote in favor. You can bet that once word gets out there will be plenty of knuckle-dragging Homelanders who come out in opposition.

    https://www.popvox.com/bills/us/114/hr5935

    If you don’t have a fallback US zip code, here are a few suggestions:

    Barack Obama’s Chicago home: 60615
    Hillary Clinton’s NY home: 10514
    Chuck Schumer’s Albany office: 12207
    Robert Stack’s DC office: 20220

  18. @JC Thanks! You certainly are our rock star in the twitter sphere. LOVE your graphics.

    @All About a month ago JC kindly tutored me in the art of using twitter. (I’m OLD and not so quick on the uptake). It is a fabulous venue for getting our message out to everyone you can think of yelling at. On occasion many of us tweet a recipient en masse (I believe it is called a twitter storm…or something like that).

    It would be fabulous if more of you could join us. I have found it rather addicting and certainly a venue for keeping our issues in the dialogue when the news cycle is flat. It is also a great source for keeping up with what is going on i.e. UN, OECDtax etc and contacting the US/local legislators.

    Please give it a go, we need you out there. (If I can do it anyone can).

  19. Though this article is from 2014 / 2015, it appeared in my email this morning:

    DeBlis Law: “Lackluster Tools For International Collection: An Explanation For Why Things Go ‘Bump’ In The Night?”

    The United States has entered into income tax treaties with several countries that provide for the exchange of information.[i] But only “five treaties provide for assistance in collecting tax judgments against U.S. citizens living abroad.”[ii] Those are with the following countries: Canada, France, Holland, Denmark and Sweden.[iii]
    …
    Consider the following example. Pierre is a dual citizen of the U.S. and Canada who presently resides in Montreal. He has fastidiously filed U.S. and Canadian tax returns for the last ten years. Following an audit of his 2012 U.S. tax return, the IRS determined that there was a $ 20,000 deficiency and mailed him a notice of deficiency. Pierre timely filed a protest but Appeals found in favor of the IRS. Having failed to file a petition with the tax court, that deficiency soon became a $ 20,000 assessment.

    The IRS now seeks to collect on its claim by imposing a tax lien on real estate owned by Pierre in Canada. Essentially, what the U.S. government is attempting to do is cajole collection officials from the Canadian Revenue Agency (Agence du revenue du Canada) to do its dirty work for it: namely, to collect Pierre’s unpaid U.S. taxes by enforcing an IRS tax lien on property located within Canada.

    As incredible as this might sound, reliance upon a foreign taxing authority for assistance in collecting a tax judgment against a citizen of the requesting country is entirely permissible under the terms of the U.S.-Canadian Treaty. Of course, such a request must be accompanied by documents firmly establishing that the taxes have been finally determined.[ix]
    …
    etc.

  20. More scare tactics. He doesn’t appear to understand Canada’s policy. Canada will not enforce a US tax lien against a Canadian citizen on property in Canada.

  22. Well more proof that overseas Americans will vote for the people who gave them the problem in the first place:

    http://rachelheller.org/us-election-americans-overseas/

    After all it’s other who need their stuff taken and options limited to pay their fair share. That fair share they want from people who don’t live in the country or the special taxes on anything foreign as kind of a one off and not really what those lovely dems are all about.

  23. @Neill
    Of course, anyone who is voting shouldn’t forget to vote for members of Congress as well, since taxation legislation begins in the House and goes through the Senate before making to the president.

  24. Yet another bunch of “professionals” spreading BS & grossly-outdated misinformation about renunciation.
    http://www.pinnacleadvisory.com/articles/pros-cons-renouncing-citizenship/

    Archived:
    https://archive.is/RlsDR
    https://web.archive.org/web/20161029034915/http://www.pinnacleadvisory.com/articles/pros-cons-renouncing-citizenship/

    The main reason people renounce their U.S. citizenship is to take advantage of lower tax burdens abroad, but the growing unease with U.S. politics might also be contributing to a record number of Americans who are renouncing their citizenship and surrendering their passports. While we don’t recommend this to our clients, we have received questions about the financial pros and cons of leaving behind one’s U.S. citizenship. In the interest of keeping you fully informed, we sat down with Raoul Rodriguez, a Pinnacle Wealth Manager and resident expert on expatriate issues, to discuss the question. …

    Are there any other consequences to giving up citizenship?

    There are travel restrictions to consider. Taxpayers who give up citizenship cannot spend more than 30 days a year back in the U.S. for the next 10 years without other consequences.

    Not open for comments, so no opportunity to correct their errors there, but the firm is on Twitter: https://twitter.com/PinnacleIndore

    Mr. Rodriguez is too but his account is private: https://twitter.com/IntlPlanner

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