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.
IRS Still Hunts Offshore Accounts As More Foreign Banks Sign Deals With U.S.
http://www.forbes.com/sites/robertwood/2016/01/26/irs-still-hunts-offshore-accounts-as-more-foreign-banks-sign-deals-with-u-s/#9d1bc8b4c557
US taxes and FATCA: ‘The time for hiding is over’
http://www.thelocal.no/20160126/hiding-over-us-taxes-for-expats-fatca-get-compliant-fbar-tlccu
@Tom Alciere
“Hiding” – it sounds so wilful. Time to “come clean”.
@ @Tom Alciere
just another advitorial for a compliance condor company
comply comply comply or I shall say comply again 🙂
After several U.S.-Canada dual citizens spoke up about the cost, hassle and privacy concerns over their struggles to comply with American tax laws, All in a Day spoke to two opposition critics for their take on what could be done.
Opposition parties weigh in on FATCA
Posted: Jan 25, 2016 5:36 PM ET
http://www.cbc.ca/news/canada/ottawa/programs/allinaday/opposition-parties-weigh-in-on-fatca-1.3419438
@JC,
Amazing. The conservative knows nothing of the data transfer but they allowed it. i buy their argument that they had no choice to avoid the withholding tax. She doesn’t understand that the exempt accounts still are taxable in the US.
http://mobile.nytimes.com/2016/01/26/business/dealbook/a-tidal-wave-of-corporate-migrants-seeking-tax-shelter.html?_r=0&referer=http://www.drudgereport.com/
When corporations renounce their “USC”, do they have to pay $2,350 at the consulate and do the receive a CLN????!!
I’m having a discussion on Facebook about this very topic, BC Doc. Bernie Sanders has recently condemned US corporations for “renouncing citizenship” by inverting.
http://www.newstalk.com/Political-anger-on-the-US-campaign-trail-at-the-latest-Irish-tax-inversion-deal
To me this is a pretty good indication of Sander’s position on CBT and FATCA. If he had any kind of sensitivity to the grief that Americans abroad are subjected to because of both, he wouldn’t apply a term that is specific to citizens to corporations. Instead he uses the term to vilify corporations and as a result throws us all in the same boat.
@Neil That CBC interview was a missed opportunity. Too bad John Richardson was not also involved. It was a fairly easy interview. All Brockers should listen to that.
What can I call that lady MP? Something not complimentary. She has a relative who has been in Canada for 50 years, and thinks it ok for such persons to be required to file US tax and pay tax to the US. Nothing about the inequity of it all, just playing along that it is ok and Canada agreed to exchange of info to combat tax evasion. Also, “could do nothing.” What a “cop out.” How about being very vocal that it is wrong instead of trying to “sweep it under the carpet.” ‘Extracted concessions’ in the negotiation and got retirement accounts out of reporting – she is reading the US written press release about it all. No mention that this nonreporting applies to all other countries.
I suppose a plus is we got two MPs talking about FATCA. There needs to be a tougher interview situation.
Neill and JC,
The most recent CBC interview was preceded by two earlier programs, the first with John Richardson.
See other discussion at http://isaacbrocksociety.ca/2016/01/19/tune-into-cbc-all-in-a-day-at-445-pm-today-john-richardson-interview/ and in Stephen’s most recent update: http://isaacbrocksociety.ca/2016/01/19/tune-into-cbc-all-in-a-day-at-445-pm-today-john-richardson-interview/
See also the questions put forth to the Liberal government, http://isaacbrocksociety.ca/2016/01/22/bravo-mp-dusseault-for-keeping-the-pressure-up-on-fatca/, by the NDP Pierre-Luc Dusseault, interviewed in the most recent CBC program. Commenting here: http://www.cbc.ca/allinaday/2016/01/25/opposition-critics-weigh-in-on-fatca/.
That CBC program is still trying to get a Liberal government person interview for the continuation of their coverage of this.
@Calgary411
Like others, I sent a letter to my Liberal MP (also Parliamentary Secretary to Foreign Minister) to respond to the CBC’s invitation for an interview, saying “It would go far in assuring Canadians that our government is truly committed to government transparency and a willingness to talk to the press.”
About inversions- when are they going to learn that CBT is ruining the country? America needs tax reform so BADLY- and yet they do nothing, except put more barriers up. And that doesn’t seem to be working.
And what comes forst- the hen or the egg? Maybe these companies needed a bailout in part because they couldn’t pay their taxes?
“The World’s Favorite New Tax Haven Is the United States”
http://www.bloomberg.com/news/articles/2016-01-27/the-world-s-favorite-new-tax-haven-is-the-united-states
This article is precious– front and center on Bloomberg. The US plays, “You show me yours, I won’t show you mine.”
bubblebustin,
Your Liberal MP, for you have educated her so well, would be an appropriate Liberal MP to be interviewed by CBC, certainly more knowledgeable than Conservative Lisa Raitt is about the details of what actually took place in Canada’s capitulation. Would the other Liberals from whom we ask answers to our questions allow her to speak? Thank you for your action. I hope you get a reply!
I like this statement in the Bloomberg article
For wealthy overseas clients, “privacy is huge, especially in countries where there is corruption.”
Excuse me, what about non-wealthy clients privacy?????????
If you thought life couldn’t get any worse for Americans overseas then imagine having to fork over SS tax for dividends without a way to offset the taxes against local taxes:
http://www.reuters.com/article/us-usa-election-clinton-socialsecurity-idUSMTZSAPEC1RLFRJKN
Even mentions pensions and annuities. Well at least it will phase out WEP for me unless of course you need substantial earned income to phase out!
@ Huffington Post article
For “Accidental Americans,” you may not want the U.S. citizenship but it cannot be declined.
Says you. I decline. Gwen declines. You bet we don’t want it. Nor do we accept it or permit you to decide who we are. We decide. Simples.
@Canadian Ginny,
Have you ever paid them anything (US IRS)? Have you ever filled their forms? Got social security number etc? I am just interested in what you have done. I can’t imagine being in your position. Of course I can not leave the IRS myself but I am compliant. I have no choice. I chose to play the game now by not working. They can’t tax it at high levels if you just don’t earn it anymore.
@Neill
Gwen and Ginny are “pure”, otherwise they would not have been chosen as plaintiffs in the ADCS lawsuit. As Ginny has mentioned, she may have also performed at least a couple relinquishing acts that would have caused a loss of US citizenship.
@Cheryl
I had to laugh when I read that US investment firms cannot knowingly help clients hide money with them. There’s a lot of wiggle room in that. Don’t ask, don’t tell.
@ Neill
Here’s what I have done: I was born in Michigan to two Canadian parents- which meant I was Canadian at birth- and lived there for five years ( the last year I was actually living 10 months in a Canadian boarding school). Moved back to Canada age 5.
If they send me a letter and advise me how much I owe them for my unearned income for my five years I may consider it.
I am Canadian. Why would I have a SS number? Why would I have ever filed anything or paid anything to a foreign country? I pay taxes where I earn income and reside; I vote in the country where I live and have never voted outside of it. I only possess a Canadian passport because again, I am Canadian. Doing anything else never crossed my mind.Knowing now what I know about FATCA has also not changed my mind.
I am quite comfortable being in my position and not the least bit intimidated by the USG’s plans for me. I don’t intend to retire in California!
@Calgary411
I don’t have a clue how much of the information I gave my MP she’s actually absorbed. The information exchange has been one way so far. I didn’t even get a copy of JT’s Liberal Party position letter that other people have received. She’s got her mind on other things as Secretary to the Foreign Minister, like doping in sports:
https://openparliament.ca/debates/2016/1/25/pam-goldsmith-jones-1/
@Canadian Ginny,
Ask somebody to file form 211 on you. Presumably they have to come after you then otherwise they can’t actually honor that submission. It’s clear you owe taxes. Maybe not enough to get a reward but they can’t say that till they get you tax compliant. Could be a major headache for them.
This is bad. Very, very bad. If you thought the Conservatives screwed us over, you ain’t seen nothing yet from the Liberals.
U.S. takeover of network carrying sensitive federal data raises security concerns
http://www.theglobeandmail.com/news/politics/allstream-takeover-by-us-based-zayo-raises-national-security-concerns/article28408200/comments/
@Neill
The only thing I am asking anyone to do is help fund our law suit. Anyone alleging I owe US taxes is wrong. Ergo, your supposition is wrong.
Care to share your US taint story?