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.
02 21 15 – FINANCIAL REPRESSION AUTHORITY – w/ Haydon Perryman
JC Double Taxed @JCDoubleTaxed 2m2 minutes ago
@Faaz71 @haydonperryman #FATCA not a done deal. It is unconstitutional so says http://www.fatcalegalaction.com & US has not signed up for infoexec
http://business.inquirer.net/187213/us-foreign-account-rules-raise-concerns
@Bubblebustin, Thank you very much for mentioning the symposium. I just submitted a paper proposal. I’m not a legal scholar but I’ll see if they accept it.
@Shadow Raider,
Hope you’ll be able to submit your paper, attend and report back.
Thanks as always for your efforts, and for continuing on the journey with us here.
@ Shadow Raider
Over the years we’ve had so much to thank you for and now, again … your paper will be excellent I’m certain.
@Bubblebustin
I was pleased to see that the conference was including papers from a wide range of academic perspectives, not just the legal scholarship. I am thinking about it. although the timing is not ideal.
More boatloads of garbage from compliance condors:
http://www.artiopartners.com/renounce/americans-renouncing-citizenship-hype/
1. “You are also considered an American citizen if your parents or grandparents were/are American citizens” — wrong, read 8 USC 1401. Child Citizenship Act (8 USC 1433) for “naturalisation through grandparents” is quite obviously not automatic.
2. “you are stripped of American citizenship by a foreign country” — WTF does this even mean? complete legal nonsense.
3. “Many choose to ignore the US tax laws and plead ignorant if caught” — libellous speculation on the state of mind of people they don’t know
4. “Some say that almost 100% of American expats aren’t finding that these new laws that burdensome …it is said that .17% has renounced their American citizenship for the past 4 years.” — and the consular birth non-registration rate in the UK is nearly 30%
How about a special envoy for them US persons?
http://www.washingtonpost.com/blogs/in-the-loop/wp/2015/02/23/kerry-picks-foreign-service-officer-to-be-states-first-special-envoy-for-gay-rights/?tid=HP_federal?tid=HP_federal
Haydon Perryman may have a positive image as a suave Brit with some Brockers. But in the audio JC posted above, he couldn’t be more wrong.
Perryman cites the example of his father telling him that if he commits a traffic violation, he should just quietly submit to authority, because after all, he has clearly violated the law.
Perryman doesn’t get that it is one thing to submit to just punishment for violation of reasonable law (as his father told him), and another to just roll over and take it up the butt in the case of unjust extraterritorial law imposed by bullying extortion.
Perryman is such a twit he doesn’t even understand what his father told him.
Someone with a Globe and Mail login wanna’ jump into comments?
Fast turnaround on the article, there, Patricia Moon!
Alberta online bank first in Canada to shun U.S. clients amid tax rules
http://www.theglobeandmail.com/report-on-business/international-business/alberta-online-bank-first-in-canada-to-shun-us-clients-amid-tax-rules/article23186804/
I don’t know if this is the best thread for this, but Senator Ben Cardin (D-MD) is proposing a “progressive consumption tax“, which would be similar to the European VAT and Canadian GST, while significantly reducing the income tax. He’s in the Finance Committee, and in the “business income tax working group”. I’m mentioning this for two reasons:
1. He’s requesting comments on his proposal and “other suggestions” until March 6, at PCT@cardin.senate.gov.
2. He mentioned multiple times that the US is the only developed country without a (national) consumption tax. It would be good to tell him that the US is even more alone in using CBT, and suggest that he align US taxation to the rest of the world by abolishing CBT as well. He could even include it as part of his proposal. Maybe he will pay attention if he receives a lot of emails about this.
@ The Mom
JC made a great comment at the Globe & Mail and now this reply to him has me gobsmacked.
Timothy Bean wrote:
Hello EmBee-
Not a worry. I replied to that reply. Overall the comments are on the tame side compared to previous months.
Harper had lots of grounds for public protest against the FATCA IGA – that I believe would have seriously derailed it all (while gaining political capital for the Conservatives) – instead of just accepting, as if Canada were the 51st state.
@ JC
Boy did you ever reply to that reply. Good one! It was the have the victims sue the victims part of Timothy Bean’s comment that I couldn’t wrap my brain around. The victims being, of course, ALL Canadian taxpayers. 🙂
From Jack Townsend:
http://federaltaxcrimes.blogspot.com/2015/02/cono-namorato-to-be-doj-tax-aag-22415.html#disqus_thread
This guy, Cono Namorato, seems to be poised to take over from Kathryn Keneally. He’s a 25 year vet of one of the biggest Compliance firms involved with OVDI and the Swiss Bank Program, Caplan Drysdale.
He’s going to have a real hey day sending all kinds of people into the arms of his old firm. This revolving door bullshit is a huge conflict of interest, but heck, its just the American Way I guess.
I’m glad to be shit-canning US citizenship. It has truly become garbage.
Here’s wry humour for the day, quoted from the Haydon Perryman audio JC posted above:
(19:45) Interviewer: “Any closing comments you can leave our listeners…?”
Perryman: “My overall message to you would be … work out which W8 you should fill out and fill it out when you’re not under duress and keep copies of it…. That would be my overall message to people.”
Earlier, Perryman spends nearly four minutes mid-interview (12:20-16:00) telling us to work out which of W9 or the five different W8s that applies to us.
What is the essence of Haydon Perryman?
http://isaacbrocksociety.ca/2014/11/26/form-people/
Staff Reductions & Insufficient Funding Will Dramatically Impact IRS in 2015 And Beyond
http://www.taxconnections.com/taxblog/staff-reductions-insufficient-funding-will-dramatically-impact-irs-in-2015-and-beyond/#.VPCFjYg76rU
Prof Allison Christians reports on a call to revoke the Revenue Rule:
http://taxpol.blogspot.ca/2015/02/brunson-on-enforcing-foreign-tax.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed:+TaxSocietyCulture+(Tax,+Society+%26amp;+Culture)
@ Bubblebustin (RE revoking the Revenue Rule).
If implemented, I guess this would be the US taking a baby-step towards reciprocity.
But, really, does anyone believe the US would even consider doing this and tying up their courts with such “trivia” from “foreign” countries???
@ADCSovereignty #FATCA IGA lawsuit continues to be newsworthy and provides education and leadership to the world
https://adcsovereignty.wordpress.com/2015/02/28/adcsovereignty-fatca-iga-lawsuit-continues-to-be-newsworthy-and-provides-education-and-leadership-to-the-world/
From Michael DeBlis:
Corporate Tax Reform: An Illusion Or A Reality?
“…Corporate tax reform cannot be debated without addressing an issue that cuts right to the heart of the debate: the very taxing of foreign profits in the first place. It is the 800-pound gorilla sitting in the room. And if it was a villain out of a Dr. Seuss book, it would be called the “Mean One Mr. Grinch.” And on this topic, there are as many opinions as there are experts.
Inherent in President Obama’s plan is the idea that foreign profits must be taxed. And this might be what has corporate executives crying foul.
Taking the side of businesses, James Pethokoukis of the American Enterprise Institute wrote: “This is the wrong direction for corporate reform. Under a better territorial system, the I.R.S. would only seek to tax those profits earned in the United States. American companies with foreign-earned profits would be free to leave that dough overseas or bring them home without any further tax consequences.”
Mr. Pethokoukis’ arguments cut right to the heart of the U.S. system of worldwide taxation – where the U.S. is one of the few countries left in the world that still taxes its citizens and corporations on their worldwide income, regardless of where it was earned. The overwhelming majority of developed countries only tax a company’s profits if they were earned inside the country’s borders…”
http://www.taxconnections.com/taxblog/corporate-tax-reform-an-illusion-or-a-reality/#.VPSg9og76rU
James Gould at Tax Notes and Ed Kleinbard at USC are optimistic about the probability of corporate tax reform, but apparently have no great expectations for individual reform
http://www.forbes.com/sites/taxanalysts/2015/03/02/hey-it-could-happen-the-optimists-case-for-tax-reform/
@Eric
Funny but that was just my thought: What is happening with the tax reform committee? In January it was a hot topic but no news since then.
Feel free to add to the muddled discussion:
https://ttlc.intuit.com/questions/2588850-i-am-living-overseas-and-work-overseas
Question:
“I am living overseas and work overseas. Please advise if I can use any of your products? Note – I normally file the following: Forms 1040, 1116, 4852, 6251, 8948, Schedule 8812. ”
Answer:
“You can only purchase the TurboTax products if you have a US credit card with a US billing address from the TurboTax website. Other online retailer websites that offer the TurboTax products may have billing requirements where you can use other then a US credit card or a US billing address.”
AARO @aaro 2h2 hours ago
AARO reps met on Tuesday with the office of @SenRandPaul and learned he is reintroducing his “Repeal FATCA” bill today, Wed. 4 March.