Update
These seminars will include discussion and analysis of the IRS “relaxed opportunities” for people to come into compliance.
All Brockers and Sandboxers in the area(s) are encouraged to attend and bring their families and friends!
Update
These seminars will include discussion and analysis of the IRS “relaxed opportunities” for people to come into compliance.
All Brockers and Sandboxers in the area(s) are encouraged to attend and bring their families and friends!
It seems a convergence is about to transpire; the IGA will soon pass, FATCA is 10 days away and the IRS’ recent “easing-up” on penalties. I started wondering just how much of that “easing-up” has to do with our efforts, and what a great PR move the IRS just made, etc. Will it really make a difference and so on…..
I think now is a good time for all of us to sit back, take a breath and look at where we were, where we are, and where we would like to be moving towards. I am particularly interested in the less-than-obvious observations Brockers and Sandboxers have about what has contributed to any one of those stages.
Someone at the IRS just made a brilliant move. As if it hasn’t been hard enough to get everyone to listen, i.e., friends, families, media, CDN govt, IRS and the Congress, it will now become a lot harder. Imagine how many times we are going to hear “What are you complaining about, no penalties to be afraid of, etc etc. Not much progress seems to have been made in putting a dent in the misconception that Americans abroad are not the same as Homelanders stashing money in tax havens. In spite of the enormous amount of time Brockers and Sandboxers have put into responding to endless articles and putting up with endless abuse from those who either do not know how to read or cannot think outside the cliché box or else just enjoy being unkind.
What about all the time and energy put into researching, trying to get questions answered without the bias of the compliance industry, govt etc. I was recently cautioned/reminded about the fact that no one should advise anyone to break the law. I still do not see anyone here doing that; we are looking at what options are there and sharing that information. Back to Expat Forum days, Ladyhawk’s amazing post Why I Will Not Renounce”. The “mass” renunciation meeting in October 2011. The horror of seeing OVDP morph into OVDI; Shulman’s refusal to acknowledge Nina Olson’s TAD. Actually renouncing. Watching Mona Lisa do a complete 180 turn as the reality of this miserable mess forced her to do what she absolutely felt was wrong for her to do……..
So much effort and participation…the protests, the Information Sessions, the We Are Not a Myth Campaign, appearances in front of FINA, the list goes on and on. I find this aspect to be truly inspiring and amazing, that we have managed to come together and hopefully, have made a difference.
I guess what I am saying/asking is:
What moments/events are the most memorable for you?
Which ones have made you the most angry?
Which have given you hope?
Do you think we have played a part in the change of IRS’ direction?
Do you think we have been able to help people?
What kind of direction should we be looking at?
and whatever other questions come up………….
Of course we will continue with the Charter Challenge. Of course we will continue to argue that Accidentals should not have to waste money to become compliant so that they can renounce. And that CBT needs to be abolished. I just wonder how all of you may be feeling/thinking before the next wave hits.
Update
These seminars will include discussion and analysis of the IRS “relaxed opportunities” for people to come into compliance.
“If only I had known known about these rules earlier …
This session will focus on the problems of investing and retirement planning for U.S. citizens abroad in general. It will operate as both:
– a “heads up” for young adults; and
– possible solutions for those already mired in the process
Who: John Richardson, B.A., L.L.B., J.D – CitizenshipSolutions.ca
Where: Downtown Vancouver, 1010 Richards Street Richards & Nelson, Gallery Condo Building, Amenity Room, Entrance at REAR of BLDG on lane. Metered parking on street or lot at Richards & Smithe. Canada Line – Yaletown stop. Expo & Millenium lines – Granville Station.
When: Sunday, June 22 11:00 am – 1:00 pm
Admission: $20 individual or $40 for a family of up to four people (to cover costs)
Hope to see you and your families on June 22. Spread the word!
In recent testimony before the Canadian House of Commons Finance Committee, Queen’s University law professor Arthur Cockfield testified the American Foreign Account Tax Compliance Act (FATCA) “is really a sea change” in the long-standing tax information exchange relationship between Canada and the United States.
Historically, the neighbouring nations exchanged information on temporary residents in each country. The FATCA Intergovernmental Agreement (IGA) requires Canada to provide information on permanent residents of Canada, including Canadian citizens who were born in the United States.
See more
Well, it really IS beginning. Three weeks from tomorrow, FATCA begins. Apparently our compatriots in Mexico are about to be hit in a very big way.
None has been so far reaching as this notice sent to US citizens who have accounts at Banamex USA in Mexico this week, however.
Banamex USA’s parent, Banamex, is the second largest bank in Mexico and there are over 1 million US citizens living in Mexico, by far the largest amount of any country, and so this news will be felt over a very widespread area.
Notices have begun to be sent by Banamex USA, a bank operating in Mexico and used by many American expats in Mexico, to all US citizens notifying them that their accounts will be closed within 30 days.
Here, here and here you will find three separate online discussions surrounding Banamex USA’s summary closure of American’s accounts.
BREAKING NEWS: Murray Rankin’s Assistant just advised they expect the vote on the Omnibus Bill C-31 in the House of Commons Monday, June 9 following Question Period.
She said:
The NDP moved report stage deletions to the budget, including deletions to every section pertaining to FATCA, so those will be voted on, followed bny the vote on the budget itself. It is expected that the Conservatives will vote down all of our amendments to delete.
I will keep you updated. And we will continue to work to advocate for all those caught up in the FATCA net!
Please feel free to share the NDP petition.
Cross-posted from Maple Sandbox
I imagine most of us are rather disenchanted about any more submissions to/appearances before the House of Commons Standing Committee on Finance but just in case anyone doesn’t feel it is totally hopeless yet….
Ottawa, June 06, 2014 –
The House of Commons Standing Committee on Finance has launched its pre-budget consultation process, and is inviting Canadians to participate. A report on the 2014 consultations will be tabled in the House of Commons prior to the December 2014 parliamentary adjournment. Suggestions made by Canadians and the pre-budget report compiled by the Committee will be considered by the Minister of Finance in the development of the 2015 federal budget.
“I am very pleased to be announcing the 2014 pre-budget consultations,” said Mr. James Rajotte, M.P. for Edmonton-Leduc and Chair of the House Finance Committee. “The Committee encourages the input of Canadians in this process, and invites individuals to provide a written submission with their proposals for the forthcoming budget.”
First, don’t you love this photo of her at The Sandbox Project in Ottawa yesterday? Elizabeth, you have an open invitation to play with us at Maple Sandbox anytime!
Thanks to Hazy for finding Elizabeth’s comments in Hansard June 4, 2014
Elizabeth May: The piece my hon. friend from Victoria mentioned is the most controversial. It will certainly be the piece that will cause the greatest grief to this administration. It could cause real grief and hardship for about a million Canadians who may find themselves swept up, not as U.S. citizens, but described as U.S. persons.
I refer again to the Foreign Account Tax Compliance Act. This is unusual in a lot of ways. My friend from Victoria and I are both lawyers. I no longer practise in a way which anyone would notice. I am not a practising lawyer. I am not insured to practise law, but I know my legal principles.
It is certainly remarkable that U.S. legislation has been accepted in Canada as having extraterritorial application. Canada is prepared to say okay. I do not know if this would be allowed if, say, Iran decided to pass legislation to say that anyone with an Iranian connection in Canada had to be treated differently than other Canadians.
In the case of the United States and this piece of legislation, it is based on the implementation of something called the Intergovernmental Agreement, or IGA. Obviously, the United States is our greatest trading partner and closest friend. This is nothing against the United States, but as a matter in principle of law, one nation’s laws do not apply extraterritorially to citizens of other countries. In this case, we have agreed, as though it were a treaty, to implement the IGA.
Update
These seminars will include discussion and analysis of the IRS “relaxed opportunities” for people to come into compliance.
Solving US Citizenship Problems Information Sessions
U.S. Citizenship and Young Adults: Navigating The Special Rules Imposed On U.S. Citizens Abroad
Update
These seminars will include discussion and analysis of the IRS “relaxed opportunities” for people to come into compliance.
“Life planning, career planning and the reality of U.S. citizenship for Americans abroad”
“Everything I wish I had known, but couldn’t even have imagined to ask!”
During the winter, John Richardson presented a number of seminars for those concerned with the obvious problems of U.S. citizenship (including the “threshold question” of whether you really are a U.S. citizen).
Seminar topics have invariably included the problems of: FBAR, FATCA, investing, retirement planning, mutual funds, U.S. tax compliance, renunciation, etc. The official “FATCA Launch” of July 1, 2014 will surely make the existing problems worse.
U.S. citizens living outside the United States are subject to a regime of rules that diminish their “life opportunities”. These rules are such that U.S. citizens abroad live at a disadvantage relative to the citizens of any other nation. Those attending previous seminars have been primarily “middle aged” people, who have attempted to plan for their retirement, only to find that their retirement plans are threatened, because of their birth in the United States.
A shared sentiment has been:
“If only, I had known about these rules earlier … This is information that my children and other young adults need to hear! What does all this mean for my children?”
The seminar on June 22 will be a session specifically designed for your children and young adults. They will be exposed to (at least “some”) of that information that they need to hear!
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