Liberty and justice for all United States persons abroad

The Isaac Brock Society

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.

26 May 2015:  This thread is now closed.  It continues at Media and Blog Articles Open for Comment, Part 2 of 2.

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.

Articles from earlier in 2015 are at this link

Articles from 2014 are at this link

Media and Blog Articles Open for Comment, Part 2, is at this link

Media and Blog Articles Open for Comment, Part 3, is at this link

3,971 thoughts on “Media and Blog Articles – Part 1 of 11 (to 26 May 2015)”

  1. Boris has vested interests in placating the US.

    “…Mr Johnson’s decision to pay up was taken grudgingly but will ensure that his visit to the US — intended to drum up investment for London — is not dogged by questions about his tax affairs.” http://www.ft.com/cms/s/0/149b859c-a15b-11e4-bd03-00144feab7de.html#axzz3PUuw3AMu

    Looks like it is up to the ordinary joes/josephines here to oppose US extraterritorial financial terrorism inside our country’s borders and give FATCA the finger.
    We can do it!

  3. So, did Boris get the Geithner deal? What about all those unfiled FBARs?

    Or did the IRS manouver to get him to be their object lesson to all the rest of the “US deemed taxable persons” worldwide lest Boris become a potent symbol of resistance to US extraterritorial greed and overreach?

    What about ‘similarly situated taxpayers’ who came forward earlier, when Boris did not? There are plenty of people who the OVD programs gobbled up who had less assets than he, and less US tax assessable.

    Just continues to prove how corrupt the IRS and US Treasury is.

  4. @JC

    Your latter message is the one we should be taking to our MP’s – especially the Conservatives! I’m sure their constituents are hearing from them on this now. They could turn this a win-win situation for themselves.

  5. @bubblebustin, looks like it is still down to the plucky Canadians and their supporters around the globe to oppose US extraterritorial financial aggression.

  6. @badger

    I know how Boris feels – only it bit me more. I hope he becomes a strong advocate against CBT, better yet, renounces US citizenship. I doubt he will though, as he likes the unfettered access, it seems!

  7. @bubblebustin, it was your ordeal that I was thinking of when I heard the news about Boris. He didn’t come forward (not that I wanted him to) and you did. I bet he got a deal. I bet there was no FBAR penalties levied – despite his public statements saying he wasn’t going to pay up.

    The Taxpayer Advocate has continued to flag that the IRS was more than happy to extract disproportionate penalties from ordinary minnows in the OVD programs as well as those who opted out http://www.international-adviser.com/getattachment/News/Tax—Regulation/irs-watchdog-says-its-offshore-voluntary/OFFSHORE-VOLUNTARY-DISCLOSURE-The-IRS-Offshore-Voluntary-Disclosure-Program-Disproportionately-Burdens-Those-Who-Make-Honest-Mistakes.pdf.aspx .

    I bet Boris got a better deal from the IRS than those who are not mayor of London.

  8. @NotBoris
    That is quite an aggressive strategy. I have heard advice that you shouldn’t own a house as a joint tenant if your foreign spouse has put money into it (tenants in common is better). If a spouse is not on the deed in the United Kingdom they have to take specific actions to protect their rights in a divorce, since they wouldn’t have this protection automatically (what this means varies in England and Wales, Scotland, N. Ireland).

  9. Do we actually know that Boris wasn’t tax compliant prior to this issue becoming public? It might be that he was diligently filing returns and FBARs but didn’t know capital gains was due on the sale of his home in the country he actually lives in. What rational person would! Perhaps the IRS accepted an amended return for that year and even imposed penalties. Not saying he didn’t get special treatment but we are unlikely to ever know.

    Sure wish he would have stayed with his original inclination and said NO. We NEED people with a public profile and wealth to care about this outrageous trampling of our right to live a normal life in our chosen countries.

  14. I just posted the Newman article on the DA facebook page in the comment section below an article they posted from one of the large compliance condor companies:
    http://www.mondaq.com/canada/x/367632/tax+authorities/Towards+a+Global+FATCA+OECD+G20+Unanimously+Endorse+Global+Automatic+Information+Exchange

    Stirring the pot over there helps get the CBT, FBAR and FATCA issues brought into the open where they can be debated in a public forum, something the Dems have been trying to avoid all along.

  16. This is about the silence of big Canadian media regarding our plight. My omg moment was when I heard a story by Anna Maria Tremonti on the Current. That was several years ago now. Why no follow up? Also, Amanda Lang, also at CBC, should be all over this story,as well as Cathy Thomlinson who purports to fight for the little guy.Why is this seemingly a non-issue? My theory is that the anti-American smugness most of have experienced over the years by pure Canadians is deep rooted. The mostly unpoken opinion is “well, if things are so difficult, they can always go home.” Sadly, we are largely invisible because we have assimilated too well. I wish I knew how to wake up big media here. Anybody close to CBC or CTV types?

  17. Lake Superior Guy,

    Here are Canadian and US articles since the Anna Maria Tremonti excellent one: http://isaacbrocksociety.ca/brockers-making-news/. My wish would be to tie our litigation against the Conservative government implementation of the FATCA IGA in Canada to other cases and a real awakening to all Canadians of what is going on with the sovereignty of this country.

    Yes, the Conservative’s “Just Renounce” meme seems to work well for some: https://www.youtube.com/watch?v=ANqVaEpRi_4

  18. @badger

    I still can’t quite understand how Boris actually got caught owing tax on the sale of his home. Of course I know first hand how he incurred the liability – he sold his home before he knew he had a tax filing obligation to the US, but that was in 2009. So somewhere between 2009 and last year he found out he was a US taxpayer. If I was to guess, he found out before Streamlined was introduced and had contemplated entering either OVDI or the latest OVDP program, both of which require 8 years of tax returns and 6 years of FBAR’s, calculated the tax and said forget it. I don’t think he literally meant that the IRS sent him a bill, how could they have? Now what if he just kept his mouth shut and entered Streamlined today? If he hadn’t done or said anything that would have precluded him from entering Streamlined, submitting 3 years of tax returns would have cleared the sale of the home, however, 6 years of FBAR’s could have raised suspicion and triggered a deeper look-see (aka audit) by the IRS…and remember, there is no statute of limitations on tax returns that have never been filed. Then again, he might have succeeded and only paid the tax for the 3 years within Streamlined, something the IRS might have allowed since he’s the Mayor of London and all.

  19. I could not open the Boris Johnson article- but the headline said “settled”. He didn’t “pay” his tax bill but he “settled” it. What does that mean?

  21. @Embee
    Well 49000 certainly isn’t 100000 £….. especially if he earned around 500000 £ it shouldn’t hurt as much. No wonder he gave in. I think nothing has changed in his attitude though. He must still believe “Why the hell of I have to pay this?” and it remains outrageous.
    I dont think he really has a choice if he wants to continue to do business with America. But maybe he has learned that there might be such unforeseen consequences that he will renounce.

  22. @Polly

    I suspect he won’t renounce because of the perception that border agents may exercise a prejudice against renunciants. Keeping his US citizenship will certainly allow him to be more vocal about the ridiculousness of CBT. Whether he renounces and gives the US the one-finger salute or grudgingly continues to pay US taxes, he may still prove be a strong advocate for RBT. The worst thing he can do for the cause would be to comply and not complain!

  23. @Bubblebustin
    But renouncing would be a much stronger argument. It would really say: not with me any longer.
    And also- I suspect Boris wants to become wealthy. Or wealthier. He is better off renouncing now.
    On the other hand- he might just put everything in his wife`s name if their marriage is solid.

  24. Michael DeBlis updates his article at TaxConnections January 21, 2015 “UPDATE TO COMMENTS – Are the Psychological Benefits of U.S. Citizenship An Adequate Justification For The Worldwide Taxation of Nonresident U.S. Citizens?”, based on comments to his original.

    Thank you, Michael DeBlis for having an open mind, listening to the commenters and being a US tax lawyer actually writing about this subject — and, hey, listening and reporting what Nina Olson had to say in her Report to Congress: January 19, 2015: “National Taxpayer Advocate Lambasts IRS’s OVDP Programs And FBAR Penalties”.

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