A new resource on all the issues faced by expats, #AmericansAbroad, #AccidentalAmericans, #US persons, et al:
FATCA: Citizenship-Based Taxation,
Foreign Asset Reporting Requirements and
American Citizens Abroad
I don’t think there is anything else which is so extensive or thorough. This is brilliant research and gives reference to many, many court cases. Definitely a resource we are fortunate to have. (Brock SWAT to compliance community: “Watch out!”)
Thank you Andrew Grossman!
It is permanently located on the sidebar at Brock under the Important Information box – Introductory and Essential Material on CBT, FATCA, Citizenship Issues.
The confounding factor is that there are Canadian banks and either French banks or banks that do business with French banks that also operate in the US. The US can and has forced these to pay. The IRS will get its money, directly or indirectly, but it will get its money. Unless cou tries find a way to stand up and say “no”.
Kelly – I think countries refuse to collect each other’s taxes from their own citizens as a matter of practicality rather than in defence of the citizens.
(I think the IRS, especially, doesn’t want to have to try to collect another country’s taxes from a US citizen resident in the US.)
It suits them all, not to have to try collect each other’s taxes from their own citizens.
Meet a medical student today who just returned from 2 months at Columbia University in NYC. She wants to return and perhaps practice medicine there before coming back to Japan to use the skills and experiences she gained there to aid her fellow Japanese.
Four other students, first year med. students also expressed strong desires to study in the US.
What advice would you suggest I provide?
JapanT – I advise you not to offer any advice, given that you’re not sure what advice to offer.
Aren’t you being cute. I did offer advice. I would like to know what advice you woukd have me give.
Actually, I was giving you what I believe to be the best advice: it’s better not to offer advice if you’re not sure what to say.
Since apparently you’re just playing some kind of offensive game, I’ll stop responding.
It is part of my job to advise clients who are looking at studying abroad. I am certain what advise is best, given the information on hand.
I am curious what advice you would give to someone you have some resoonsibility towards. Consider it a furtherance of my answer to your repeated question of why I want to scare people.
One thing she could do is study in Cuba, which has excellent medical schools.
An alternative thing she could do is take care NOT to get a green card.
Do not marry a US person. Do not give birth in the US. Do not adopt a US-person child.
Ah, didn’t think of the adoption but covered the rest, except Cuba. They have spent years studying English and want to study where that language is native.
Also advised them to just not go to the US. Period.
Adoption can be cruel. My wife is from Dominicana, so our children born in U.S.A. are Dominican nationals from birth. However, that nationality can become concealed when bureaucrats issue so-called birth certificates saying that two men supposedly had a baby that day, and giving the baby’s new name. How can the baby prove to Dominican authorities that he or she was born to a Dominican mother?
The article, which this post is about (FATCA: Citizenship-Based Taxation, Foreign Asset Reporting Requirements and American Citizens Abroad by Andrew Grossman), was updated in November/December 2019. The updated version is at this link.
Thanks to Badger for discovering this and posting news of it.