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.
@Neill @George
One possible solution would be to enter as on a non-US passport, as you will then be recorded as having entered as a visitor, not a citizen of the US?
Republicans Overseas posted a new super terrifying post about the irs looking at streamlined and ovdp programs could be interviewed and asked questions……it just keeps getting worse and worse
@2t2s
The IRS concerns itself more with those who might get away with something, rather than remove impediments to compliance – namely fear.
@2Terrified….the beatings will continue until morale improves.
Is there any other country on earth that has voluntary compliance programs this bad?
Not to say that it doesn’t still have the means to make your life miserable, but it’s altogether possible that cash-strapped IRS is going on a campaign of fear rather than spend money it doesn’t have on actual enforcement measures.
IRS Commissioner Koskinen is looking more and more like the Wizard of Oz every time he opens his mouth:
https://www.taxconnections.com/taxblog/streamlined-disclosure-program-will-not-continue-indefinitely/
Well they sure have me scared. I just don’t want to live my life like this…I’ve just got to renounce. It breaks my heart but I can’t live reading irs threats every night, either.
@Neill
“Somebody here can put me straight I recon. I thought living another country with a national healthcare type system exempted you from the ACA (affordable care act).”…..”One post suggests here that it has to match the standards in the ACA”
The post on taxprotalk highlights a unique situation. A French employee working for an extended period in the US, with health insurance provided by their French employer. Reply #4 from taxmonkey is correct, but it has to be read carefully as to what meets MEC Standards, and what constitutes MEC standards. Basically, the French insurance plan must be compliant with all US rules for ACA, and the plan must then be approved by the US supervisory organisation (MEC) as acceptable as an ACA approved plan.
In other words, the plan covering everyone who is an employee or otherwise (even if in France) must be approved. Will the French company change it’s French plan to meet US requirements as well as French requirements for its employees in France? Are the two requirements compatible? That’s why being a member of BUPA in the UK, The State health scheme in Australia, or Canada, is not acceptable coverage for ACA coverage, or for form 8965. As far as I know, they are not MEC approved (and why should they be?).The only way (aside from the previous example above) to avoid paying the penalty is to meet Section 911 requirements. This can cause a problem for a US Person who moves abroad on, say, July 30. In order to meet the physical presence test (FEIE/911) they must apply for an extension and wait to meet the 911 test, otherwise, they will owe an ACA penalty for 6 months of the year they relocated. (There may be a 3 month grace period.)
Anyway, that’s my understanding.
@2t2s
And it’s really no consolation to know you’re not alone, is it? You can be sure that I won’t be taking my US citizenship into my old age where it can make my loved ones miserable too.
Bb and 2t2s. But I give thanks for the strength in finding all of you
We are not alone
Republicans Overseas comment link: https://www.facebook.com/republicansoverseas/posts/462243393959461
And, the full speech *Acting Assistant Attorney General Caroline D. Ciraolo Delivers Remarks at the American Bar Association’s Tax Section Midyear Meeting Los Angeles, CA United States ~ Friday, January 29, 2016*: http://www.justice.gov/opa/speech/acting-assistant-attorney-general-caroline-d-ciraolo-delivers-remarks-american-bar
@Stephen Kish if IGA invalidated and CRA would not receive information under FATCA to assist their tax work,
Then,
Canada/CRA can assess exactly the type of information it is getting – as it is not reciprocal information – and then assess if it may provide precisely reciprocal information under existing agreements.
Ted Cruz Is Not The Only One With U.S. Citizenship Problems
Cleo Hamel, Tax Expert
Posted: 01/25/2016 5:33 pm EST
http://www.huffingtonpost.ca/cleo-hamel/us-citizenship-problems_b_9070622.html?fb_action_ids=520822701414527&fb_action_types=og.comments
Now a few days old, I don’t see it here. I believe I got it from @Patricia Moon who published on Facebook.
@Neill, you said, in regard to my link to the Expats for Sanders petition: “Wow. We got our legs cut off by Obama so we are rooting for Sanders in the hopes he cuts off our arms”
No US expat in their right mind is rooting for Sanders (note: I said “in their right mind”). That said, among the self-destructive lunatics who formed the Expats for Sanders group, there is a small faction apparently who are trying to pin him down to make a clear statement about FATCA and CBT.
You should support this effort by signing the petition.
Why? I’ll tell you why.
1) Sanders may actually have a shot at the presidency. But if he can be persuaded by his so-called “supporters” to come out and make a clear policy statement about FATCA and CBT (and we know what he’ll say if he does), then it may strip the rosy lenses from his expat supporters’ eyes and lose him a lot of votes.
2) It’s a CLOSE race, as we’ve just seen. Let his minders see, through the comments under the petition, why he will lose a huge potential number of votes unless he changes his FATCA and CBT stances.
So, puh-leez, get on board and sign this petition.
https://www.change.org/p/bernie-sanders-bernie-sanders-citizenship-based-taxation-and-fatca
Congress Acts to Mark Passports of Sex Offenders
https://www.themarshallproject.org/2016/02/02/congress-acts-to-mark-passports-of-sex-offenders
All expats are already considered tax cheats unless proven otherwise. I can see it now: soon they’ll add “sex offender unless proven otherwise” to the list, because (quoting the article):
“sex offenders “hop on planes and go to places for a week or two and abuse little children,” the bill’s sponsor, Rep. Chris Smith, R-N.J., told NJ.com.
So…let’s review history: Some jerkwads in Manhattan hide money in Swiss accounts, therefore all “foreign” accounts are for money laundering.
And now Rep. Smith links sex offenders with going abroad. Therefore, if you follow the same logic, all Americans abroad are sex offenders.
Be prepared to start filing a new annual SBAR form, declaring all sexual activities that last more than 10 minutes.
Seems like toying with US citizens’ passports is Congress’s new hobby.
@Barbara,
I am sorry. A bit of me will die if I do anything to suggest I might be in support of Sanders. His kind are the source of the worst two years of my life.
@Barbara
Bernie voted for FATCA.
Bernie is quoted in 2012 as saying in response to the increase in US renunciations:
“The rich people are apparently leaving America. They’re giving up their citizenship. These great lovers of America who made their money in this country-when you ask them to pay their fair share of taxes they run abroad. We have 19-year old kids who lost their lives in Iraq and Afghanistan defending this country. They went abroad. Not to escape taxes. They’re working class kids who died in wars and now billionaires want to run abroad to avoid paying their fair share of taxes. What patriotism! What love of country!”
And more recently compared corporate inversions to “renouncing US citizenship”.
Either he’s aware of the issues facing American abroad and is indifferent to them, or he’s completely clueless. Neither is acceptable for someone running for the US’s highest office.
This from a recent post on American Expatriate Facebook page:
“Folks, I thought you’d like to know that I attended the Bernie Sanders London supporters’ post-Iowa open event tonight, which had Larry Sanders (Bernie’s brother) as a panellist. I posed the following question:
“Mr Sanders, as a fellow long term overseas American, you must know of the burdens many of us are facing as we try to live our lives and plan for our futures while complying with the onerous, complex and punitive tax rules which the US enforces on its overseas citizens. I’m sure you also know that the vast majority of us are not wealthy people, and we certainly aren’t tax evaders or money launderers even if that is how Washington seems to perceive us.
I don’t presume to speak for other Americans in this room, but I am speaking for a great many overseas citizens when I say that this is a vital issue for mobilising the overseas vote. Have you spoken to your brother of this matter? When will he express his stance on addressing the problems that citizenship-based taxation is causing for the little guy overseas?”
His response (as well as I remember): “Well, I tend to take the simplest approach to those things and just ignore it all [audience laughs for 10 seconds]. No, but that’s bad tax advice. Seriously, it’s not something I have discussed with Bernard. I will try to remember to bring it up and ask him about it for you, if I can.”
Eric Lee, of Democrats Abroad added: “We [DA] sent requests to the democratic campaigns asking for their stance two days ago. When we have them we will let you know.”
And that was that. A fellow audience member echoed my point later in the discussion, and the fact that the USA is the only country to practice CBT besides Eritrea (who was condemned by the UN for the practice) was raised to some surprised laughter in the room.
I asked Eric Lee after the event was over whether DA had been educating the candidates about these issues before asking for their stances. Our conversation was a bit rushed but he said that they will have received “long documents” in relation to the request.
One audience member thanked me for raising the issue; I’m not sure how it went down with others.”
Larry Sanders, who remains a US citizen while living in the UK for several decades, has never brought the up the most important issues facing American abroad with a close brother who’s running for president of the United States? Either Bernie is a US tax compliant homelander abroad who thinks it’s ok what the US is doing, or he is not compliant and chooses to “ignore it all”.
@Bubblebustin,
We need to somehow ask Larry Sanders if he uses the ISA, pays life insurance premiums, has a mortgage or invests in a government bond that doesn’t pay out yearly. I would love to fill out form 211 on him.
@Neill
There’s a distinct possibility that Larry Sanders is in the eyes of the IRS, a willful US tax evader. Wouldn’t that be something?
Where the Democrats stand on CBT/FATCA:
http://www.democratsabroad.org/our_candidates
@Bubblebustin,
That would be totally awesome! He will get special treatment though.
Interesting program on CBC The Current today about Denmark and refugees. Beau Littegard a former Danish Diplomat was asked why the Danes protected their Jewish citizens during WWII occupation. He said”It was a fundamental understanding of the fact that once you start persecuting somebody, the entire foundation of democracy will falter. There was a strong sentiment that the protection of the individual which is inherent in democracy…”
@Charl
Thanks for that. Great find. If there is some movement from both sides, maybe something will get done. Obama hasn’t even managed that Green Book proposal for accidentals. At any rate, a nice change from Senator Warren’s letter to me, which was harsh (we need the money, so too bad your bank account was closed), but also fortunately not relevant to my circumstances.
@Calgary411
Oh dear, poor India. It had such visions that it would get access to all of the dark money hidden in the U.S., but instead the IRS is after the Indian assets of its emigrants to the U.S.. India already is hard hit economically by emigration to the U.S.
This might be a special on IBS from Dems Abroad on where the candidates stand on the issues. It appears the questions were good ones and not watered down. USCitizenAbroad suggests the response supports why Clinton should not be supported.
https://twitter.com/USCitizenAbroad/status/695012144371384320
@Charl – looks like you were ahead of me.