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.
Pingback (as posted elsewhere): @AUILR: mentions @ADCSovereignty, suggests CANADA (Not US) is committing #FATCA based Human Rights violations | Alliance for the Defence of Canadian Sovereignty
Also, in the current AUILR – – A Slow March Towards Thought Crime: How the Department of Homeland Security’s FAST Program Violates the Fourth Amendment:
http://www.aulawreview.org/index.php?option=com_content&view=article&id=2022:comment-a-slow-march-towards-thought-crime-how-the-department-of-homeland-securitys-fast-program-violates-the-fourth-amendment&catid=289:volume-64-issue-2&Itemid=173
What is this this world coming to………….
@LM
I dont get it.Is that a joke? How are vital signs supposed to reveal malintent?
@Jakdac
Wonderful article! And in the NY Times!! Hopefully it will be read and understood by many.
When the OECD is looking to take more taxes from US companies we see the treasury suggesting this:
http://thehill.com/policy/finance/241852-overseas-action-fuels-us-tax-fears
“It is perhaps understandable that other countries may wish to tax more of this income than they currently do,” a Treasury spokeswoman said in a statement. “We have been clear that income should be taxed in the jurisdiction where a taxpayer has assets and risks and performs valuable functions, which is often the U.S.”
Contrast that with CBT or for that matter the USG insistence on taxing the dividends I receive from foreign corporations. It’s very clear to me then that this is about revenue, but then I knew that anyway.
[A] Treasury spokeswoman said in a statement … “We have been clear that income should be taxed in the jurisdiction where a taxpayer … performs valuable functions”
Guess that explains why so many folks in the IRS pay taxes nowhere and still get promoted. Treasury’s been clear with them!
If you need a flow chart then clearly it’s way too complicated. Of course if you get this stuff wrong I am sure they have some special penalties on your overseas income:
http://intltax.typepad.com/intltax_blog/2015/05/flowchart-taxation-of-pension-distributions-under-uk-us-income-tax-treaty.html
@ Polly – –
The AUILR article – – A Slow March Towards Thought Crime – – does not appear to be a joke. That is what makes it so scary.
Vital signs have been used for decades by law enforcement (think Lie-Detector tests), but their veracity/accuracy of revealing guilt or mal-intent has, via careful scientific study, frequently been shown to be questionable and unreliable.
People can be taught to “beat the lie-detector” and crime-committing psychopaths are not going to show the expected rise in heartbeat or breathing or sweating or tremulousness that law enforcement is looking for to support an opinion of “guilty” (psychopaths just don’t feel the same emotions in response to what society sees as “misbehaviour”). Who knows what other vital sign they (Homeland Security geeks) are looking at (blood pressure, eye-pupil contractions, tightness of teeth clenching, foot movements, brain activity, the color of fingernails?) Even Orwell would b frightened.
@LM
Well, lie detector tests are supposed to be unreliable. But yeah- that IS scary!
@Polly, @LM
Sometimes the signs of supposed guilt… are just signs of being pissed off… sometimes they acted like a-hole which I have no patience for… the supposed cues are basically stopping me from jumping over the table or counter to choke the crap out of them… which I am sure is illegal… Elders are correct… as they get older… they have less tolerance for crap… That is why at my age… just shy of 18… yeah right… my parents can still embarass me with their behaviour… lol
@USFP
Why old men fail at job interviews:
Human Resources Guy: What do you think your biggest shortcoming is?
Old Man: My honesty.
HRG: I don’t think honesty is a shortcoming.
OM: I don’t give a shit what you think.
@Bubblebustin
Lmao… that describes my daddy… he will ask or do things that make me cringe… then my mum goes in for the kill… the grandkids are like… omg… they are worse then our parents…
@ Bubblebustin LOL LOL LOL!!!
GATCA in action:
“If you make a disclosure during this window, you will (have to) pay 30% tax and 30% penalty. Once the compliance window closes, the law becomes further operative and you will have to pay 30% tax and 90% penalty and face prosecution and imprisonment up to 10 years,” he said.
with one major exception:
Students and non-resident Indians and professionals working abroad will not be covered under the black money bill. “Only resident tax payers who are liable for assessment under income-tax act and those who spend more than 182 days in India will be under the ambit of the bill,” he said.
http://www.livemint.com/Politics/9hiSIVkcDTC9SsnL8QB2AO/Black-money-bill-passed-govt-warns-those-having-illegal-ass.html
!!!!! FATCA Legal Action NEWS.
An American Tax Nightmare
http://www.nytimes.com/2015/05/14/opinion/an-american-tax-nightmare.html?smid=tw-share&_r=0
We, a bipartisan group of Americans living overseas, have formed a group called Fatca Legal Action to fund and mount this challenge. The Republican National Committee and Republicans Overseas have endorsed the legal repeal of Fatca. To date, neither Democrats Abroad nor the Democratic National Committee has done so, but there is strong and growing support among rank-and-file Democrats living overseas, several of whom have agreed to be named as plaintiffs when the lawsuit is filed in the next few weeks.
http://blogs.voanews.com/all-about-america/2015/05/13/so-long-uncle-sam-record-number-of-us-citizens-dump-passports/
Well, it does work both ways:
http://photographyisnotacrime.com/2015/04/florida-highway-patrol-questions-mans-sanity-for-photographing-police-department-from-public-sidewalk/
A fine analysis:
… the recover rate for FATCA is 2.2 per cent!
http://www.dailyo.in/admin_preview.php?id=3719&sef=black-money-swiss-banks-fatca-tax-havens-tax-avoidance-tax-evasion-taxpayer-income-tax-act-parliament
The “Hill” article that Neill referenced above includes the following at the beginning of the second paragraph: “With tax reform talks stumbling in Washington …. ” This doesn’t sound good.
Mr. Woods has been busy:
http://www.forbes.com/sites/robertwood/2015/05/14/more-fatca-letters-as-swiss-and-other-foreign-banks-crack-down/?utm_source=followingimmediate&utm_medium=email&utm_campaign=20150514
http://www.forbes.com/sites/robertwood/2015/05/14/facts-about-fatca-americas-global-disclosure-law/2/
@ Charl
Mr. Woods is wearing his FATCA fear-mongering hat right now. I’d say don’t feed the beast — no hits, no comments — no writing bonuses for him. We should be searching under the sofa cushions, breaking open our piggy banks and sending whatever we can find to that which provides hope not fear — ADCS.
@EmBee
I totally agree. (You should have posted sooner and woke me up as I took the bait already and posted. But it seems to be “hung-up” and not going through so hopefully the comment Gods read your mind.) But if it does go through as a saving salvo I did state that he must be ashamed of his country to have to write this stuff.
Avoid Wood. Agreed.
DA responds to NYT OpEd:
https://www.democratsabroad.org/group/fbarfatca/special-update-democrats-abroad-responds-american-tax-nightmare
So basically, DA all but admit that they do not support the lawsuit, do not support repeal, give no reason why the lawsuit shouldn’t be pursued at the same time as the same country exception, and fail to explain how the same country exception actually makes banks more willing to work with US-tainted customers.
Also they give no explanation why same country exception is actually likely to occur absent real pressure on Treasury (i.e. lawsuits not letters), given Treasury’s dismal track record of using their existing authority to provide relief to emigrants from absurd filing requirements under laws that have been around for three decades
http://isaacbrocksociety.ca/2012/08/29/its-all-congress-fault/
Glad we’ve got that cleared up.
@Eric
Someone suggested yesterday on FB that we need to start a “Real Democrats Abroad” site. At this point democrats and abroad have become an oxymoron. Democrats living abroad have no political entity that represents their needs and many will be holding their noses on this single issue and voting Republican. (With the hope their promises are true. At least the RO is not quite as “in bed” with the RNC as the DA is with the DNC….I THINK). My personal thoughts (as if anyone cares) are that the US is in dire need of a socially liberal, fiscally conservative party, laced with a dollop of isolationism and sprinkled with an understanding of climate change….that is ACTUALLY sane. One that can also understand the complexity of dancing in a global economy, adhere to international norms and have the humility to realize the boundaries of their governance.
Where is Colin Powel and why is he not starting a third “Purple Party”? Yoo Hoo Colin, I am available for VP!
Facts About FATCA, America’s Global Disclosure Law
http://www.forbes.com/sites/robertwood/2015/05/14/facts-about-fatca-americas-global-disclosure-law/
Sounds like old article, but new one.
In regards to DA, they claim offence at insinuation that they neglect the interests of Americans Abroad over FATCA. FATCA in itself is not the worst of it, CBT and FBAR are. They have a point that they may achieve more immediate relief (for compliant individuals) through change of FATCA law (I don’t hear the Republicans talking about this immediate avenue). However, their posting most glaringly leaves out CBT and FBAR.