Media and Blog Articles Open for Comments – Part 6 of 7
This is a continuation of the Media and Blog Articles Open for Comments thread (part 5 of 6).
Part 1 covers up until 26 May 2015.
Part 2 is from 27 May 2015 to 1 January 2016.
Part 3 is from 1 January to 31 December 2016.
Part 4 is from 1 January to 31 December 2017.
Part 5 is from 1 January to 31 December 2018.
Part 6. You are here.
Part 7 is from 1 January to 31 December 2020.
If clicking on a link brings you to the wrong page in the comment stream, click here to get to the most recent comments.
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. I’ll make a permanent list of links posted here and keep adding to it, 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.
From JC: 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.
From Badger: On an important archival note, please use the Internet Archive Wayback machine https://archive.org/web/ (see bottom right ‘Save Page Now’ box to enter URLs of webpages you want saved for posterity, and try to save backup copies of articles and other items of interest in some other form – such as a datastick or external drive. Some important and very significant webpages and the fulltexts of articles are no longer available (although some can be retrieved if someone using the Wayback machine saved them).
Be sure to read the comment stream for this thread — there are usually very recent articles mentioned.
Canadians travelling to or through the US should pay attention to their withering rights, H.M. Jocelyn, CBC News, Canada.
EU revives issue of FATCA information exchange as year-end deadline for banks approaches, Helen Burggraf, AmericanExpatFinance.
13 Reasons Why I Committed Citizide, John Richardson, TaxConnections.
US tax filing requirements that Americans living in Canada should know, David Altro and Avi Guttman, Globe and Mail, Canada.
Confirmed – Rep. Holding to leave Congress at end of 2020, after reintroducing Tax Fairness for Americans Abroad Act, Helen Burggraf, AmericanExpatFinance.
Trump is trying to make it took expensive for poor immigrants to stay, Annalisa Merrelli, Quartz, US.
Revenue Neutrality And A Move To Residence-based Taxation: Open Letter To Democrats Abroad, John Richardson, Karen Alpert, Laura Snyder, TaxConnections.
What It’s Like to Retire Abroad, Glenn Ruffenach, Wall Street Journal, US.
2020.01.01: This thread is now closed. Please comment at Media and Blog Articles Part 7 of 7
That was from the Sanders campaign, link on previous page.
September 2019 Congressional Door Knock Report
DA met a few Republicans.
we also met in the office of these W&MC members: Rep Larson (D-CT), Rep Murphy (D-FL); Rep Walorski (R-IN), Rep Pascrell (D-NJ) and Rep Westrup (R-OH). We door-knocked 25 other W&MC members and passed our Leave Behind Pack to the legislative staff. Our meetings on the Senate side included Sen Brown (D-OH) and Sen Portman (R-OH), both serving on the Senate Finance Committee, as well as Sen Paul (R-KY), known for his determination to block reforms to U.S. tax treaties critical to our experience navigating the intersection of U.S. and residence country taxation.
“enhancements to the international tax enforcement and anti-money laundering regime including the strengthening of the Foreign Account Tax Compliance Act.”???
WTF can they dream up that enhances this mess??? Jeez.
“WTF can they dream up that enhances this mess???”
Maybe they’ll quit quibbling over birthplace and just declare that every human on the planet is deemed to be a US resident for tax purposes. Seems to be the trend, anyway.
Funny and scary at the same time knowing such an absurd thing could actually happen.
Dutch tax minister: US won’t take immediate action against banks over FATCA info shortcomings, Helen Burggraf, American Expat Finance.
As expected, the US government will extend it’s purported deadline for accounts without an SSN. And then in 2023 it will extend it again.
Still preferable to avoid the mess entirely if you live in a country where you can open an account with ID that does not show birthplace, which makes it much simpler to deny US citizenship even if born there. The bank likely won’t care that your answer was not truthful.
@Pacifica – “US won’t take immediate action against banks over FATCA info shortcomings” AS IF they will.
The U.S has not taken action against those countries not signed up. This is an important counterpoint to those citing the risk, including the Canadian Government in the ADCS case.
195 countries in the world.
104 signed up to FATCA
9 “agreement in substance
82 Nations not signed up to FATCA
82 Nations not busted by FATCA action
ARE THESE NUMBERS CORRECT?
When I look at that list of FATCA compliant countries, it amazes me how much economic and military influence they have. Not only that but every modern electronic convenience globally ,be it cell or iphone or any other electronic gadget is linked in someway to a US multinational and its technolgy. Unless you live in a cave ,you can’t even avoid US influence in music and the arts. We are royally screwed.
Sorry for this. The FATCA list makes one realize that no other country could have done it so quickly, so surreptitiously , and without so much as a whimper from from rest of the world.
CTV News “Andrew Scheer has dual Canadian-U.S. citizenship, party confirms”
France sued by ‘Accidental Americans’ over Fatca
By Cristian Angeloni, 4 Oct 19
Re Calgary411’s comment above, “CTV News ‘Andrew Scheer has dual Canadian-U.S. citizenship, party confirms.'” I’ve created a new post for this matter, Canada: Opposition Leader Andrew Scheer is a US Citizen, and moved the comments (about 30 so far) there.
GoFundJenny: Crowdsourcing FATCA Litigation
Posted on Oct. 3, 2019
No comments showing. I have two comments in there under moderation. It seems a few years ago there were more opportunities to comment on articles.
Here’s a decent article and good video, put together by CNBC no less …
Two great comments on that Tax Notes article. C’mon peoples, give ’em some up-arrow lovin’.
The European Parliament is due to hold a public hearing into FATCA “and its extra-territorial impact on EU citizens” on Nov12, the American Expat Financial News Journal understands. Such details where etc not yet available… @USAccidental
Off-topic, but not sure where else to post this. “Nomad Capitalist” and offshoring consultant Andrew Henderson (an ex-US citizen) has a YouTube video out recommending compliance for pragmatic reasons. (His assumption is that his clients and audience are wealthy.) Perhaps some of you would like to have a go at him in the comments: https://www.youtube.com/watch?v=tt-bEguwcuY
This is from August, so may have been posted before, and if so, apologies – but the irony is too much to pass up given the premise of US EXTRATERRITORIAL CBT, and the raising of the renunciation fee, the invention of a relinquishment fee where it never existed before, etc.;
Those so-called ‘benefits’ of US status that those ‘abroad’ are called on to bear a share of funding extraterritorially are shrinking, first the IRS offices outside the US, now UCIS outposts;
“……..The closure of much of the USCIS network comes less than five years after the U.S. Internal Revenue Service closed all of its overseas taxpayer-assistance centers, citing budgetary constraints. The last IRS outposts to close were those located in the London and Paris U.S. embassies, and the U.S. Consulate in Frankfurt, which were shuttered in 2015.
Ironically, the closure of these IRS outposts coincided almost perfectly with the introduction of the Foreign Account Tax Compliance Act, a tax evasion law that has required non-U.S. financial institutions around the world to report to the U.S. on the accounts of all their American clients, and which has made life extremely complicated and in many cases hugely expensive for U.S. citizens living overseas. ”
Six good comments on this Tax Notes article and one big clunker. Please read and comment or at least do some up-arrowing. Thank you John and Mike for debunking the clunker.
JR mentioned in Maclean’s article about Sheer.
“Hypocrisy is the new gotcha, writes Jason Markusoff, and this campaign has plenty of it to go around, the most recent example being the debate around Scheer’s dual Canada-US citizenship:
Maclean’s spoke with John Richardson, a Toronto lawyer specializing in U.S. expatriate issues, who agrees it’s impossible that Scheer can wriggle out of his U.S. citizenship before the election (or a subsequent swearing in as Prime Minister, if he wins), unless the embassy arranges a special appointment and speedy authorization. He believes Canada’s leader shouldn’t be a dual citizen on principle, and argues there’s a particular reason American status is more problematic. That’s because unlike other countries, United States extends its laws, tax requirements and threats of penalties to citizens living abroad. “We can’t have him living subject to sanction by another country,” Richardson says.”
How selling citizenship is now big business
ATTN Canadian snowbirds; Rubio and Scott Introduce the Canadian Snowbirds Act:
“Both the House and Senate bill also contain a tax provision which will shield snowbirds from negative tax ramifications in the United States. Despite spending more than six months in the U.S., those who are approved for this extension will be considered non-residents of the U.S. for tax purposes.”
Trump Urges Canadians To Elect Scheer: ‘Only An American Can Run Your Country Right’
How tweet for the snow birdies. Of course the USA gets Canadian earned dollars from their very presence in the no snow zone so this legislation would probably be considered acceptable to the US homelanders, the US treasury and the IRS. Why can’t Canada pass legislation though to protect ALL of its Canadian citizens with a US connection? Are all the rest just chopped liver? How absurd, should this legislation pass, that actual partial residents of the USA would be considered non-residents of the USA for tax purposes but actual non-residents of the USA would remain residents of the USA for tax purposes. I presume this does not change anything for Canadian-American snow birdies.
As for the Trump quote … thank goodness it’s satire but it does capture his “stable genius” thought process quite accurately.