Media and Blog Articles – Part 1 of 11 (to 26 May 2015)
You can access all years at this link:
http://isaacbrocksociety.ca/media-and-blog-articles-links-for-all-years/
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” too. [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.
2015.05.26
New Survey finds US expat voting could impact 2016 Presidential Election, Greenback Expat Tax Services, NASDAQ GlobeNewswire.
This congressional committee wants to hear all your FOIA gripes, Colby Itkowitz, Washington Post, US.
The black money recovery skills of IT department are nothing to write home about, Vivek Kaul, The Daily Reckoning.
2015.05.25
The Intersection of US Federal Tax Law with Collection of International Information- – Including Other Federal Agencies, Patrick W. Martin, TaxExpatriaation, US.
2015.05.23
America the not so brave: America has led the global assault on tax dodgers and their enablers. But the reality still lags behind the rhetoric, The Economist, UK.
Cash Banned from Chase Safe Deposit Boxes, Matt Chilliak, Live and Invest News.
2015.05.22
US Steuergesetz hat unerwartete globale Konsequenzen, Colleen Graffy, Geopolitical Information Service. Also at Consequences of US widening net to catch tax dodgers, Colleen Graffy, World Review.
The horse may have bolted … but, Angelo Venardos, Asia Asset Management.
Important Correction: Passports Required to Enter and Leave US — but SSNs May be Optional, Patrick W. Martin, Tax Expatriation, US.
2015.05.21
Americans working abroad face unexpected financial issues, Sarah O’Brien, NBC, US.
Senate tax reform groups get more time, Bernie Becker, The Hill, US.
2015.05.20
Malaysia will defer FATCA reporting, FSI Tax Posts.
America’s Self-Inflicted Wound, Moises Naim, The Atlantic, US.
Janice Mays: The Tax Guru Who Guides House Democrats, Alex Brown, National Journal, US.
Sen. Rand Paul Launches Filibuster in Protest of Patriot Act Renewal, C-SPAN, US.
@WhiteKat
U are correct about the GC, visa, or any other things that are not indicated at the banks but u forgot other things like other financal accounts … if u have any US taint… such as doing your taxes as a NR with a US addy, having your mail forwarded, change of address when u were over there, or renew your passport in the US… things that would have been done prior to this fatca crap… with no thought of being a big deal… could be a big deal… They already starting to put things up which were never done before… sharing border crossing info.. its not to catch terrorists… its to catch tax evaders…. that is how I look at it… Sorry… my paranoid thoughts are floating around today… I feel like a dang hunted animal with this crap.. But I understand where u are coming from… just in one of these weird moods today… thanks so much for putting up with my crazy thoughts…
@Calgary411,
Thanks for that. So yeah, the green card holders in Canada can for the most part, breathe a sigh of relief. Those of us stamped at birth with ‘born in the USA’ have a bit more to worry about, though I still wonder HOW are they going to find out where we were born. Will Canadian passport (showing place of birth) become required ID for opening new accounts? We will find out come July 1st. Anyone born in USA, who needs to open a new account better do it soon!
@US_foreign_person, Nope I haven’t forgotten about any of that other US indicia, and I also have those crazy paranoid days. If you have ANY US indicia at a bank, now is the time to change banks and start fresh with NO US indicia. If you still need to deal with a bank where you have US indicia, perhaps arrange your affairs at that bank so that all accounts are under 50K, and/or in the list of FATCA exempt registered accounts (note not ALL registered accounts are FATCA exempt for example LIRAs are not on the list).
Someone else wrote on IBS that when they emigrated from the USA they did not openly and blatantly act American.
It was wonderful to read that as I tended to act in the same way and it was all pre-FATCA. As I opened accounts, I always used the account opening identity choices that had no US indica. It was not wanting to hide anything rather I wanted to be treated just like a regular native! I am not some hyphenated
__________-American hybrid.
So if anything, I have always been a _______ with clinging US nationality.
I do know others who consider themselves Dual with a capital D and have always proclaimed themselves as American/___________, with American first.
@Whitekat, “all accounts are under 50K”
Thats not a sure thing. A financial institution is not prevented from reporting accounts with less than 50,000.
The reality is that its probably easier to report all accounts than report only a few.
The safe gambit is to find a firm that is a Local Client Base exemption because they have nothing to report especially if they simply close non-resident accounts.
@ All
WhiteKat’s comment at the Globe&Mail will stay on the first page of the “sort by highest score” if you swarm in with the up arrows or thumb ups. There are good follow-up replies there too. All we need is for one with a FATCA warning to stick there. (Lots of viewers never go past the first page.) I got 2 uppers in because I “borrowed” my husband’s log in. Go forth and arrow or thumb or whatever, Brockers!
http://www.theglobeandmail.com/globe-investor/personal-finance/household-finances/why-the-joint-bank-account-is-a-must-for-married-couples/article17858685/
And as soon as I can I’ll get going with the Cockfield and Christians article too. It’s splendid!
http://www.theglobeandmail.com/globe-debate/how-the-us-pulled-off-the-great-canadian-privacy-giveaway/article17916327/#dashboard/follows/
@george
Don’t ask, don’t tell.
No matter which browser I use I cannot EVER see comments on the Globe and Mail! GRRR
When you think about it, America is looking for taxes from far more than 7 million expats. If you count the boarder babies, the married couples, the firms with partial US ownership, the green card holders, the offspring of US parents- how many millions are we actually looking at? Maybe 15 million? More? I think they are actually trying to solve their debt problem with americans abroad.
Even Russia has bent over to spread her buns.
ITAR-TASS: Russian banks comply with FATCA under Russia’s amended law — minister
http://en.itar-tass.com/economy/727381
The US has declared War on Expats and no country is willing to stand up for them, not even Russia.
As I see it, Expats have three options:
1.) Get rid of US citizenship (renounce, relinquish, go underground, self-immolate) anyway he/she can.
2.) Move back to the Homeland.
3.) Live with paying tribute and forms, forms, forms with nothing in return but new demands for more tribute and forms — forever.
There is a fourth option: Defy them, do not comply and live as a Canadian which is what I am going to do. They can’t find me but if they do, too bad…not gon doit! (thumb to nose)
I like GWEvil’s fourth option best. It feels really good to tell the IRS to F-OFF! Besides it is too late for me to pick any of the other 3 options now. I’ve gone too far over to the dark side. At least there is no more waffling.
Hear hear!
Yes, even Mother Russia has spread her buns to FATCA.
The Americans who embrace CBT and FATCA are all too ignorant and short-sighted. They have no idea that they’ve effectively drawn an iron curtain around themselves.
They never took the time to ask the simple question: “What if we want to live beyond the walls of the Homeland ourselves one day?” The answer is that they cannot, they just locked themselves in with self-imposed economic sanctions.
@GwEvil and WhiteKat
Seems that is the same conclusion I’ve come to also. They are not getting one freakin’ red cent from me. Those……Insert string of very bad words!!
You really gave me a well needed chuckle. Yup, I’ve joined you over on the dark side. It might be getting a wee bit crowded over here. My mind now goes to a Waco, Texas style FATCA commune where we can all hold up waiting for the IRS to blast themselves in.
Dark GwEvil, Dark WhiteKat, Dark Charl … and Dark Em too!
@Charl – Let’s hope they don’t go so far as to burn the country down around us trying to smoke us out!
@Em – That is why I have incorporated “evil” into my name 😉
We can all be roommates in the Pen!
I really look rather sallow in orange, just ain’t me colour. I’m going to change my name to pastbeyondthedarkside, it rather suits my new found rage, and because of all of you, courage! I haven’t fought with so many people in my entire life as I have since the Feb OMG moment that befell my blissful retirement.
yup put me down for option 4 as well.
i will never cross the border again into america, i will glady spend my vacation dollars in canada in the warmer months and in some other sunny climate other than america in the cold winter months, if ever asked all anyone will get is canadian….which is what they would have gotten anyways………
Good grief! How low will they go! I picked this up from the #fatca tweets:
http://overlawyered.com/2014/04/federal-government-seizes-tax-refunds-citing-decades-old-claims/
At Robert Wood’s latest, Tommy Hunter says:
“Kathleen,
So you were born in the United States. That simple fact gives you the right to claim US Citizenship at will. Should you ever get in trouble, you would have the legal right to get the help of the entire US government to help you. Given your birth-based citizenship in the United States–something coveted by literal millions around the world–you would have the right to take residence in the US without bothering to get a visa. You are eligible to become president of the United States, based on your citizenship. So, you are able to enjoy a wealth of advantages–they are sitting in your back pocket if you choose to exercise them–at any moment. So, your desire to be free of FATCA coverage conveniently sidesteps the advantages–coveted worldwide–that you have at your disposal. Though I understand your distress at being asked to comply with the laws that any person born in the US must face, you are ignoring the potential advantages you have. Should your children desire to live in the United States, being born to a mother who is a US Citizen gives them a fast track path to that choice. You are simply choosing to focus on the responsibilities while conveniently ignoring the benefits that are at arms length for you, should you choose to enjoy “
What should I tell TH to do with my “worldwide coveted” US citizenship? Anyone got any suggestions?
Why don’t you tell him to shove it up his fat a..
There are no “advantages” or “benefits” in being chained to a sinking ship.