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. @JC, it is always so wonderful to meet up with you out there in the trenches. Good stuff!!!! Since June???…man, you hit the ground runnin’! It is so nice to have your “buddies” out there for support, expressing things in different ways, adding stuff you forgot/don’t have a real grip on and for rescue when one of us starts getting beat up. Plus I start sounding like a broken record (even to myself)….Oh, her again…nice to have more voices out there.

  3. @Neil…..WOW, did say these were tax pros? We are all in trouble! (Some of them sound just a notch above the black-ops helicopter folks).

    “Is it sound tax law to impose taxation based on citizenship? If not, what is the preferred method?”….are you KIDDING ME?

  4. @Neill

    Wow, reading some of those CPAs discussing foreign taxation issues is scary; they’re clueless. Most Brockers would do a better job advising their clients.

  5. @charl
    >“Is it sound tax law to impose taxation based on citizenship? If not, what is the preferred method?”….are you KIDDING ME?

    Ckenefick is incredibly impressive. He posts tax scenario’s that take the pros serious effort to untangle.
    He is likely saying this to get people to think about it. Note what else he says:

    >One wonders how it will get developed – by our lawmaking bodies or by taxpayers having to fight it on constitutional grounds?

    This was in response to mention of the $10k fine. I think he is recognizing that it’s unfair and tax payers might have to fight it to get rid of it.

  6. @ All
    You might hate listening to this but Jim Willie mentions FATCA. I won’t say at what point exactly but I’ll give you one hint — Part 2. (Replace the colons after http)
    http //www.youtube.com/watch?v=BKuvvEdqEV0&index=2&list=PLNwUWnJgSq_LsSyEjjIZEtrdUQFhgWWbN
    http //www.youtube.com/watch?annotation_id=annotation_1647093461&feature=iv&list=PLNwUWnJgSq_LsSyEjjIZEtrdUQFhgWWbN&src_vid=BKuvvEdqEV0&v=rqz0Cnnk_hE

  8. @JC
    Oh man- if these people are older then they can just shoot themselves. Everything they own can be confiscated by their government. What a nightmare.

  9. From the land of the G20 where Australia is chair this year: Australian Financial Review, page 5, 15 September, “Tax reporting standard to be adopted”

    “The global common reporting standard will require banks to identify the tax residency of all customers and produce relevant reports to tax authorities on those accounts.”

    “Tax residency” sounds good. Hopefully the form will not allow one to be tax resident in two countries at the same time.

    2017 start up. ‘Treasurer Joe Hockey conceded the real costs for financial Australian institutions will be a quarter of a billion dollars a year.’ That is Australian dollars.” That is in addition to FATCA.

    This will be an agenda item at the G20.

    SO a question is if all nationalities are asked in Canada would this dilute the discrimination claim?

  10. This was posted over the summer. The first chapter is free from SSRN. It is fairly sympathetic from what I have read.

    Byrnes, William and Kleinfeld, Denis and Gil Soriano, Alberto, LexisNexis® Guide to FATCA Compliance (Chapter 1, Background and Current Status of FATCA) (February 1, 2014). LEXISNEXIS® GUIDE TO FATCA COMPLIANCE, LexisNexis®, 2d Edition, 2014; Thomas Jefferson School of Law Research Paper No. 2457671. Available at SSRN: http://ssrn.com/abstract=2457671

  11. @JC

    With the increase in demand, the next step by the Marquis de State will be to make proving a relinquishing act a lot more difficult!

  15. From TFA

    The problem arises for individuals that are dual nationals, i.e., they are citizens of two (or more) countries and, in this specific case, citizens of the United States and Canada. They have “rights” accruing from both citizenships, but also responsibilities to both. Primarily such dual nationals are interested in benefits and seek to avoid responsibilities.

    Despite the warning, I’m sure my blood pressure shot up when I read the last sentence above.
    What utter drivel.

  16. But if their U.S. citizenship weighs heavily on their lives or they want to be “totally Canadian,” they can renounce U.S. citizenship.

    UGH! and he plays the trope card!

    How can a citizenship you didn’t know you had or never took advantage of because you … didn’t because you are “Canadian only” in your mind and actions be thought of as anything but an imposition?

    This narrative of “whining Canadians” – who liked being American until they had to pony up “their fair share” – as if it’s fair to exact tribute and provide exactly jack shit in return – is way beyond fucking annoying.

    And it’s outright lying to boot.

    Grrrrrrrrrrr

    I need an Internet vacation.

  17. And what other country has such “responsibilities” as paying taxes and penalties without getting any benefits for it? Oh yeah- Eritrea- and America condemns them for it.

  18. @Bubblebustin
    Mr David T Jones, the author- can’t really be taken seriously. He calls Canada a “sucker” for saving canadian citizens in Lebanon from a war zone. Thats just cynical and nasty and displays such a miserly, mercenary and inhumane character.

  19. @Moderator I believe this survey by Democrats Abroad is very significant and should have its own thread. Where are the surveys of Republicans Abroad, Americans Abroad (who hide all their letters), AARO and others. IBS and Maple Sandbox attract lots of individual stories yet there is not a survey like this. Let’s discuss to see how we may use this, its strengths and weaknesses.

    https://www.democratsabroad.org/group/fbarfatca/democrats-abroad-publishes-fatca-research-fatca-affecting-everyday-americans-every

  20. @JC,

    That’s pretty bleak considering it’s coming from the democrats. As we say in the UK they must be ‘shitting bricks’.
    Here are my own survey questions:

    Q) Did you vote for Obama?
    A) Yes. We thought things were so lovely in the socialist country we live in we wanted it for the old country. Healthcare is a fundamental human right.

    Q Will you vote for the Democrats in 2016?
    A) Hello no. We didn’t realize we would have to pay for this socialism. Those without healthcare should just die already.

  21. The report / survey from the Democrats does a very good job explaining what is happening to expats.

    One of my favourite passages which is very telling:

    “Over two-thirds (67.8%) of all respondents say they will take FATCA into account when they vote in November. Just 6.0% said they don’t plan on voting.”

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