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)”

  4. @Calgary 411 OK, what is the scoop on the FATCA Tracker Community? There is no exchange from the site managers, they do not seem interested in hearing our stories for compilation and submission to legislators as I believe they promised. What was that podcast about, becoming compliant? (I didn’t listen).

  6. Charl,

    The podcast was the same content as your link provided here: http://isaacbrocksociety.ca/media-and-blog-articles-open-for-comments/comment-page-97/#comment-4957735 where you say “Great article regarding CBT and Cook v. Tait”. At the end, he posed a question about “Accidental Americans” which I think is a lead-on to what his next podcast will be. It may be aimed more at lawyers than us. I do think the author is listening: see http://taxconnections.com/taxblog/is-fatca-doing-more-harm-than-good/#.VJmM_cw6NA and the link there to the FATCA Tracker Community is TaxConnections attempt at getting something going. I have joined there and posted several things. What isn’t happening is response from the lawyers, other than Michael DeBlis, who have signed onto that forum. I’m going to continue to post items that might get some traction / interest and will listen to Mr. DeBlis’ future podcasts to hear what he has to say, which may be in favour of what we are saying. Time will tell.

  8. Calgary just posted this addy: I do think the author is listening: see http://taxconnections.com/taxblog/is-fatca-doing-more-harm-than-good/#.VJmM_cw6NA and the link there to the FATCA Tracker Community is TaxConnections attempt at getting something going.

    They have just posted this question on the site:
    This Is A New Round Of The FATCA Fight! We Ask Everyone Interested In Repealing FATCA To Join TaxConnections In Open Discussion Of How This Law Has Affected Them…
    https://www.taxconnections.com/community/FATCA-Tracker/10008#281

  9. Yan via Charl –

    Millard:  I view my U.S. citizenship as a tax in of itself

    A sentiment that deserves extraction and highlight.

    Also this gnarly snarl today by email from Phil Hodgen:

    Daniel’s green card holder needs to do some Dirty Harry tax planning: “Do you feel lucky, punk? Well, do you?”

    (On the possibilities of successfully living with lying-low uncertainties until a death event sets the case study free. Until the ostrich smothers?! Phil Hodgen — the stand-up comedian who does it sitting down in airplane seats with fingers on keyboard. A so fun read, even if you could care less about the intricacies of green card. Subscribe now.)

    ‘Tis the season to be jolly.
    &ndbsp;

  10. This is the second time I have posted a comment at CNN Money asking the reporters to do an investigative piece questioning the legislative authors of FATCA and asking for a justification of CBT. It has been pulled for the second time. WHY???? Anyone else want to try posting that question? (Maybe they just hate me)!

  12. I don’t think they hate you, Charl. Justification for the US’s citizenship-based taxation would be, for the media, a political hot potato that few would be brave enough to take on. These days journalism seems more a ‘team effort’ with several overseeing what the journalist is allowed to say in a corporate organization. They may think on it and decide to take it on, but I doubt they would tip their hand in an answer to such a challenge on a blog.

  13. I just posted the following on the WSJ Expat article. Comments are still open and registration is not required.

    “If anyone wants to better understand the devastating affects of Citizenship Based Taxation (CBT) coupled with FATCA and FBAR are having on Americans living abroad please see “ISAAC BROCK SOCIETY dot ca.”

    Real blogging from real American expats with no punches being pulled.”

    http://blogs.wsj.com/expat/2014/12/16/u-s-expats-find-hope-in-senate-finance-tax-reform-proposal/tab/comments/#comment-106

  14. @Calgary….. I understand not answering the question but why do they keep pulling the question? Is it THAT distasteful that it cannot even reside in the comments section? This site isn’t even visibly moderated. I’ve seen the most horrible statements, even potty words let go but this question is too hot to even sit there? This is a very scary world we are walking in.

    Would someone else PLEASE try and post the question and see if it is pulled. I’d love to see if it has just been a coincidence for my two postings.

    http://money.cnn.com/2014/12/23/pf/taxes/foreign-citizen-irs-tax/

  15. @Charl

    CNN is in bed with the Democrats. The Democrats are ideologically committed to protecting and defending both CBT and FATCA.

  17. @ Charl and calgary411
    RE: the Michael DeBlis debut podcast
    http://taxchat.podomatic.com/entry/2014-12-22T13_19_01-08_00
    Honestly I started listening to it but it was making me sleepy. I’ll do better with following episodes now that he’s past the basics. Anyway I ended up skipping through it and then I watched a video which did not make me sleepy.
    https //www.youtube.com/watch?v=96c2wXcNA7A (replace the colon)
    Title: Renaissance 2.0 – Financial Empire – Full Length – Damon Vrabel

    Michael DeBlis has written pretty good articles and I too believe he is listening. I promise I will stay tuned for more.

  18. RMD’s argument is, I think, that everyone should pay (includes long-time expats/emigrants and accidentals who haven’t renounced — regardless of lack of benefits from the U.S, simply because of citizenship by some means. This equates “Citizenship” (even lingering, or mainly fond old memories) to a requirement to pay money (whether directly in taxes, or in penalties, or simply fees for accountants, etc. — and even though one is a citizen or resident of another country and paying taxes there). I think this is not too far off from an argument that everyone in the world should pay U.S. taxes (or tribute?) — perhaps based on having visited there once, or having watched American TV programs — or even for no reason at all, just because. It’s getting more and more absurd.

    Where is that video from the CBT vs. RBT debate and discussion from last May in Toronto? Will it be able to demonstrate an informed debate from the other side?

  19. EmBee and Charl,

    I assume the podcast was meant mostly to *educate* other tax lawyers about what US taxation is for US citizens abroad, then to leave them with a question that pertains to many here. It was a dry listen and I did hang in to the end. I hope other lawyers might have as well. I would like to see some traction from Mr. DeBlis’ attempt at discussing the questions he poses. I wish him success in doing so.

  20. I commented (perhaps this one wasn’t too long for him, though not directed just to him):

    RockyMtnDreamer is the epitome of what I think of as US exceptionality. No one with whatever argument will make him believe anything other than all US citizens must be taxed for their whole lives, no matter where they choose to live, work, raise families and be part of other country societies. The problem is RMD doesn’t see the absurdity in his not buying into the reverse — that he and all others in the US, unless American Natives, whose ancestors originally came from other countries should then pay taxes to the countries of their/their ancestors’ national origin (and have them filed with the help of other-country tax lawyers and accountants at great cost so to avoid draconian penalties).

    Thank God I have now officially renounced my US citizenship and have a Certificate of Loss of Nationality to show my local CANADIAN “foreign financial institution” that I am NOT a US Person and I may have bank accounts in the country in which I live, have worked and am now retired in.

    My regret is having passed on a US-defined US citizenship to my Canadian-born son who happens to have a developmental disability so by US regulation cannot renounce that as he doesn’t understand the concept of citizenship. He has never lived in the US and has never had any benefit from the US – PERIOD. He must have no influence from anyone in making such a decision as renunciation and no help in doing so — and a parent, a guardian or a trustee does not have the right to act on such a person’s behalf.

    For RMD and all others who think that their country’s (any country’s) law is moral if it could ENTRAP anyone into a citizenship with all of the absurdity of its consequences, I just don’t understand that exceptional thinking. Unless someone, RMD perhaps?, can explain to me why it is not exceptional that there is such a thing as US citizenship-based taxation when the rest of the world (save Eritrea) has fair residence-based taxation law, then I will continue to understand it is only for punishment to those who had the audacity to leave the homeland with the cash cow CBT is.

    It just leaves me empty inside to realize the gap in understanding — and it is, I think, due to US very exceptional thinking.

  21. RMD read my comment and says this:

    RockyMtnDreamer wrote:

    @calgary I think you take it all too personally. This is about tax policy. Many US citizens think they pay too much but others pay too little. I know the facts and they are these: the US spends way too much money and should spend far less. 50% of US citizens pay no federal income taxes at all and the upper 10% pay the vast majority (over 80%). This is a boat taking on water and we all need to pay. I REPEAT — I believe non US citizens should not be entrapped and forced to pay (if mettle and maz are any indication it sounds like some of you are not paying a dime so it is not a big burden) , FACTA should be fixed and the ‘real’ US citizens need to continue paying US federal taxes. Leaving the USA border does not absolve paying your share. This is neither immoral nor unfair nor punitive.

    He’s right about one thing — I take this very personally for my family and many other families like mine.

  23. As if CBT, FBAR and FATCA weren’t enough to worry about we also have the “Bail-In” concord which came out of the recent G20 meeting.

    Today Just Me tweeted this link to a new Mark Nestmann article which describes the latest skullduggery which governments and “too big to fail” banks are up to.
    http://www.nestmann.com/its-official-the-worldwide-bail-ins-are-coming#.VJnYnApt2Bo.twitter

    On November 16, leaders of the G20 Group of Nations – the 20 largest economies – made an important decision. The world’s megabanks now have official permission to pledge depositor accounts as collateral to make leveraged derivative bets. And if they lose a bet, the counterparty to the contract has first dibs on your money.

    Obviously it’s prudent to keep your money out of the megabanks.

  24. @Embee
    He contradicts himself. He says on the one hand to get out of big banks and on the other hand to keep ones money in a big bank which is fortified enough.

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