Solving US Citizenship Problems Toronto Sat March 25 2-4 pm 100 St. Joseph St. #FATCA #FBAR #CBTax Get the facts! https://t.co/9MwpNgP9Mj pic.twitter.com/SSP2tZMpIt
— Patricia Moon (@nobledreamer16) March 8, 2017
FATCA is in full swing. The fear-mongering of the tax compliance industry continues. A recent suit involving a dual U.S.-CDN citizen is launched and while NOT typical of the average Canadian, major fears arise. Will the IRS extend its program of penalties to the minnow? Will the U.S. Republicans manage to achieve Tax Reform that would include a move to RBT? Will FATCA finally be killed off?
If you are still sitting on the fence wondering what to do and where you stand, now is a good time to make sure you have the facts. Many are still choosing to #RenounceAndRejoice! Should you?
Next meeting is in Vancouver, Tuesday, May 23, 2017
WHERE did you find that picture? 🙂
@Polly
I can’t remember but I grabbed it first thing! LOL! 😉
To date, no one in that picture has been inconvenienced by having their heads in the sand,
Joe Smith,
You observed that previously, way back, too. Still applies. Most appropriate photo Patricia has chosen for the information session by John Richardson!
A different version of the *heads in the sand* photo is in a comment I made some time ago as well: http://isaacbrocksociety.ca/2015/08/27/99929-needed-in-94-more-days-to-make-the-100000-august-4-2015-payment-for-canadian-fatca-iga-lawsuit-il-nous-reste-99929-a-ramasser-pour-notre-poursuite-judiciaire/comment-page-48/#comment-6359617. Surely, one of these should be a media picture in Canadian (and other countries) financial planning forums as those planners and the governments as well have their heads in the sand and are not responsibly advising those Canadians with some obscure US taint. Can these who are to educate us assure us there is no problem or just hope we will keep our heads in the sand to ignore what is actually written into bad laws, in the US and extra-territoriality in countries outside the US borders?
Love the picture Tricia! I know some ostriches in the Vancouver area and will send them reminders for the May 15th information session. Although I understand that staying under the radar may be the best option for some. As CBT has been US tax policy since the civil war, it certainly doesn’t hurt to be educated. And John does a good job regarding FATCA/CBT education. I certainly agree with the following from your post:
“If you are still sitting on the fence wondering what to do and where you stand, now is a good time to make sure you have the facts. Many are still choosing to #RenounceAndRejoice! Should you?”
Thanks PatCanadian!
It’s fascinating to watch over time, how perception changes. I would say it’s generally agreed upon that if one is not in the system at all best to stay out…………my sense is, without tax reform, instead of all renouncing (for protection), more and more will just stay out. It may be that people have to accept the choice is to give up going to the U.S. (which is no biggie for some, problematic for those with close family ties……..)…personally, I don’t feel all that badly about the idea of not ever going there again…..
Yes, it’s a very personal decision with no right or wrong answer. I’m currently in the US visiting my mother who is in her upper 90’s and in poor health. I had no tax owed when I took the oath of renunciation and filed the necessary tax forms. Everyone`s situation is different. But still, I travel south of the border as little as possible. It`s very unsettling to travel there these days.
I thought I had close family ties down there, but then again, I’m forced with the realization that I haven’t really seen any of them in close to five years, and that no one really cares. That includes myself.
Life goes on whether I’m there or not. Same as with my own life. Brief emails and the occasional phone call. That’s it. A substantial number of them I won’t even talk to anyway, because they either have problems with my wife, of leaving the States, or both. Sorry, but I live for me. Not them.
Finally, I no longer have any interest in going stateside anymore. Not with the worsening political climate.