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)”

  3. @everyone. Thank you all for keeping up with all of this. I never would have been able to myself. I can’t believe that I am still shocked when things like this come out! You just have to beat me over the head with it. The IRS training program makes it painfully clear that we ARE NOT collateral damage. As has been said before, we are the intended target.

  4. JC, I have a feature article? What is that you refer to? The CBC coverage in January or something since then? Thanks.

  10. If you have Twitter, request for retweet of this Tweet to Chris Hadfield. Chris gets a lot of Tweets. You may find the original by searching #FATCA.

    JC Double Taxed ‏@JCDoubleTaxed 1h1 hour ago
    @Cmdr_Hadfield Patriot needed to help 1 million Canadians abandoned by Ottawa against unjust US tax, & #FATCA http://tiny.cc/patriot #G20

    E-mailed to Robert Wood and Kathy Thomlinson – National investigative news segment based in B.C. All our stories come from people who write in – gopublic@cbc.ca

    Anyone interested may e-mail journalists my letter to Chris Hadfield. The link to the letter is: http://tiny.cc/patriot

  19. @Mark Twain

    I saw a funding announcement a year or two ago from someone, I think it was the EU, looking at ways to fund research that would help to convince the U.S. to be more environmentally friendly, so that much I know to be true.

    The one thing that I think that everyone with is that CBT in its current form is ridiculous and has to go. Also, that the U.S. needs to treat greencard holders better.

  20. What is the Common Reporting Standard (CRS)?

    Countries that tax foreign gains of their taxpayers wanted to follow the US example. The OECD and G20 developed the framework by which greater international tax transparency could be achieved. This culminated in the Common Reporting Standard, a reporting model based upon FATCA and endorsed by all OECD and G20 countries on 29 October 2014, providing for automatic exchange of information among them. The CRS is a multilateral exchange of information, unlike FATCA IGA’s which are at best bilateral. The multilateral exchange is due to begin in September 2017, certainly among the Early Adopters Group . Others will follow in 2018.
    Why was the CRS inevitable?

    Tax evasion is recognised as a global problem which requires a global solution. FATCA was a US Treasury response to the simple evasive technique of some US citizens with foreign accounts, to use their foreign credit cards on those accounts whilst not paying taxes on funds in those accounts at point of entry. Treasury investigations revealed that the use of credit cards was only the tip of the iceberg, and a drastic measure was required. What seemed impossible has been achieved, and it is very difficult today for a US person to maintain a financial account outside of the USA without it being reported to the IRS. Penal taxes and criminal liability for tax evasion make an undeclared account a most undesirable prospect.

    “…the simple evasive technique of some US citizens with foreign accounts, to use their foreign credit cards on those accounts whilst not paying taxes on funds in those accounts at point of entry”??? Using our *foreign* (Canadian and other country) credit cards on the accounts we hold in our “foreign financial institutions” (not “foreign” to us in Canada and other countries where we reside — we live here and these are our local Canadian banks!?). Really?

  22. @Calgary411 missing in your CRS info: the US did not sign up with information exchange. The US will participate through FATCA with vague promises of reciprocity.

    The US will not require asking “Billy Bob” in Alabama if he is a US citizen (or any other country) when opening a financial account. “Billy Bob” just may indicate CSA Confederate States of America, then what?

    +The US has been called the largest tax haven country in the world. What good is information exchange if it excludes the largest tax haven country in the world?

  23. Absolutely correct on that, JC. The subject of bogus US reciprocity is glaringly missing!

    And, Finance Canada tripped up big time on their completely amateur acceptance of any such promise from the US!

    http://openparliament.ca/committees/finance/41-2/31/brian-ernewein-17/?page=17
    5:10 p.m.
    Conservative
    Mike Allen Tobique—Mactaquac, NB

    Does this agreement have a reciprocity provision in it?

    5:10 p.m.
    General Director, Tax Policy Branch, Department of Finance
    Brian Ernewein

    It does, so we’ll be collecting some additional information from the U.S., particularly in relation to what I’ve talked about as taxpayer identification numbers.

    I do want to say though, for completeness, that it’s not at the same level at the outset. The U.S. has asked the countries that enter into these IGAs to provide the information that I’ve talked about, to do the due diligence procedures that I’ve talked about as well. They aren’t actually undertaking to do all of that immediately themselves. They’re doing some of what I’ve referred to. There’s a commitment in the agreement that they will work towards that equivalent treatment.

    Only one area, where the Canadian government could have held US feet to the fire — come up with the goods, absolute reciprocity passed by Congress, not a wishy-washy US promise. (No matter, that the reciprocity means little for a country that practices RBT rather than CBT.)

  24. @JC,

    One obvious sign that reciprocity was never intended is the fact that the US exempts no accounts in the US. Obviously say the UK wants to reduce costs by not reporting pensions etc. The US didn’t exempt anything knowing full well they will never report anything.

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