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.
Thanks for the current information on Beyond the Border initiative, Wondering!
Wouldn’t you know it —
More opportunity to recruit to IBS:
IRS Hounds Mayor of London for Taxes on UK House
http://www.the-american-interest.com/2014/11/23/irs-hounds-mayor-of-london-for-taxes-on-uk-house/?utm_source=dlvr.it&utm_medium=twitter
Somebody who wants more exit tax. I love this bit:
>Of course, rich people have already paid some taxes on that wealth—so, in fairness, the top rate
> probably wouldn’t go above 50 percent.
That sure sounds fair to me. Make life hard then people leave. You see them leaving so you try to punish them.
http://www.businessweek.com/articles/2014-11-24/why-america-needs-an-exit-tax
@Neill
This author can also find negativity in the fall of the Berlin Wall:
http://www.businessweek.com/articles/2014-11-07/did-the-fall-of-the-berlin-wall-hurt-economic-growth
He should go back to smoking his bong.
Comments still open here:
Boris’s dilemma: relinquish his US passport or pay American tax
http://blogs.spectator.co.uk/coffeehouse/2014/11/boriss-taxing-dilemma-relinquish-his-us-passport-or-pay-american-tax/
@Neill
Good find! Charles Kenny, the BusinessWeek columnist with an Exit Tax fetish, admitted his own hypocrisy in the last paragraph of his article where he wrote:
“It would carry heavy costs in terms of reducing international mobility, which is a powerful force behind global progress. Too few Americans spend time abroad as it is.”
Kenny seems to come from similar intellectual pedigree as Michael Kirsch — thinks its good for the government to tax the shit out of everyone just because it can.
http://www.cgdev.org/expert/charles-kenny
His business week article definitely deserves some comments.
@JC, thanks for pointing that article out. It really needed some comments based on reality. Just as I posted one, I noticed Charl had too.
@Samuel Adams,
I argued with one guy. Amazing. His view is that he lives his way in the US. His income is low and he is happy. So nobody else can complain presumably because they could live the way he does. Of course he criticizes another country saying it isn’t as free as the US as the same time as demanding people live like him.
Interesting:
http://blogs.wsj.com/expat/2014/11/24/expat-finance-tax-guide/
Might ask some questions myself.
Expat Finance & Tax Guide
[ Neill found this before me, but I’ll leave this comment as I’ve sent it in a link to others.]
One more from Mr. Wood today:
http://www.forbes.com/sites/robertwood/2014/11/24/even-non-owner-signers-on-offshore-accounts-face-fatca-and-fbar-risks/2/
And make sure to read the comments, especially the one from FromPatriotToExPatriate starting:
The obvious solution to this problem is to avoid all things foreign in general including but without limitation:…..
I realize this is not “media” in the normal use of the word here, but thought I would draw attention to:
a Kindle Book available on Amazon: FATCA and the New Birth of American Empire by Robert Morris
The info indicates the “essay” is clearly critical of FATCA. And lots of positive reader comments. Only $3.12. Anyone have a Kindle & interested in taking a look? Viewing comments, seems this book came out a year ago.
http://www.amazon.ca/dp/B00GVFLO3U/ref=as_sl_pc_tf_lc?tag=gamnew03-20&camp=2013&creative=11781&linkCode=st1&creativeASIN=B00GVFLO3U&adid=01CHFV6MHKVGCFMQD7WF&ref-refURL=http%3A%2F%2Fwww.fatcanews.ca%2Ffatca%2Feven-non-owner-signers-on-offshore-accounts-face-fatca-and-fbar-risks-2%2F
Also at Amazon:
American Expats Under Tax Siege [Kindle Edition] by Barron Harper. Publishing date was back in 2011 – – he certainly should be encouraged to do an updated edition with current information!
http://www.amazon.ca/American-Expats-Under-Tax-Siege-ebook/dp/B006HGQD3E/ref=sr_1_10?s=digital-text&ie=UTF8&qid=1416888215&sr=1-10&keywords=FATCA
Ginny Hillis’ Letter to Boris Johnson gets published in Forbes:
London’s Boris Johnson Gets Help In IRS Fight
http://www.forbes.com/sites/robertwood/2014/11/25/londons-boris-johnson-gets-help-in-irs-fight/
Looks like just an aside from somebody involved in business abroad:
http://www.aviationpros.com/article/11701510/where-were-you-in-1989
The claim is that many people are returning to the states because of FATCA.
@Neill
In a previous post, you mention how any claim on refunds from the IRS can expire. If this is the case, the mayor’s tax bill for 2009 will come with full penalties, won’t it?
$2,6bn fine for Credit Suisse.
http://international-adviser.com/News/Europe/Credit-Suisse-fined-2-6bn-for-tax-evasion
That bit about filling false tax information with the IRS sounds interesting.
@Bubblebustin,
The statute of limitations for refunds is different for the one for tax owed. When you enter OVDP etc you allow the IRS to extend limitations for the penalties but not the refunds. This is particularly harmful if the tax payer has PFICs and tries to use the modified mark to market regime offered there. It will generate large losses in 2008 or 9 and gains prior to that. All fake of course. You have to pay tax in the early years but are denied the refunds that reverse some of this in the later years. Heads they win. Tails you lose.
This was one reason I bit the bullet and opted to do my PFIC with sec 1291. This also had the benefit of creating no taxable income for 2003-2010 in our biggest account and hence we didn’t get the balance penalty.
All complete robbery of course.
The IRS is turning the whole world upside down with FATCA to get some additional revenue.
Meanwhile a class of taxpayers that you would think should be nailed pretty easily defrauds them to a tune of $1bn a year.
http://www.cpapracticeadvisor.com/news/12022439/prisoners-in-us-find-hobby-in-income-tax-fraud
We would rather go after the productive than the unproductive or in this case those with negative social impact.
@ Neill
Interesting artlcle with a FATCA mention. Thanks for sharing.
I tried to leave the following comment on the site under this artlcle but, once again, I realized I would have had to have FB or Google+ or twitter or LinkedIN credentials (and I have foresworn these).
Could you or someone who has one of these please alert all these Aviation Pros that if they have a US connection they are not alone? That we have information. That we are trying to fight this.
Here is what I wanted to write (bit by bit we spread the word):
For more information on FATCA and what you can do about it, take a look at www dot isaacbrocksociety dot ca. And please check out, and consider supporting, the constitutional challenge to this invasive law by checking out the Alliance for the Defence of Canadian Sovereignty (www dot adcs-adsc dot ca) . While FATCA is impacting US Persons all over the world, we are actively fighting back and keeping everyone informed about their rights and options. Please join us
The CRA, where our “foreign financial institutions” send our private financial information for handling and determination if it goes on to the US IRS.
Canada Revenue Agency privacy breach leaks prominent Canadians’ tax details
@LM,
I couldn’t register. There is an email address at the bottom of the article: aerolaw@att.net
Wow. This is amazing. For those abroad who hate paying for the healthcare of others via that 3.8% medicare surtax (not offset by foreign tax credits) or for people like me who hate taxes or paying for healthcare for others:
http://dailycaller.com/2014/11/25/chuck-schumer-we-shouldnt-have-passed-obamacare-in-2010-video/
Our favorite guy Chuck Schumer says it was a mistake to work on ObamaCare. His reason is that only 5% of the people that vote (you can’t make this up) didn’t have health care.
Good job we didn’t add a complete new parallel tax system like the AMT or add a huge amount of rubbish to the tax code for tracking who buys insurance. Not!
@ Neill – thanks for the email info – – I sent the “comment” to them and hope they will share it. We’ll see. Nothing ventured, nothing gained….. 🙂
@Neill
The irony is that Charles Kenny is a Brit who would have been educated at state expense when he was at Peterhouse College Cambridge and SOAS. How can he, of all people, talk so negatively about expats? What an inside the beltway mentality! There are certain Brits who have moved to America (NOT YOU) who are even more unquestionably gungho nationalist than the native-born Americans and drive me completely nuts.
I have had this thought myself in the last few years. Did I make a mistake in creating American children? Not the children but the American bit. They were born here so I wouldn’t have changed that but I worry I saddled them with something that can be such a burden.
http://blogs.timesofisrael.com/my-grandkids-as-american-citizens-a-good-idea/