Liberty and justice for all United States persons abroad

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Author Archives: USCitizenAbroad

#FATCA protest in Canada against @CdnBankers is the shot heard round the world!

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From the Cayman Islands Compass – November 15, 2013 – C0ngratulations to all!!!

FATCA opponents from the Isaac Brock Society and Maple Sandbox, in a Nov. 12 letter to Terry Campbell, president of the Canadian Bankers Association, asked the CBA to resist Washington.

“We implore the CBA to use its considerable influence and resources to insist that the Canadian government categorically reject Washington’s demands and to lobby for FATCA’s repeal by the American Congress,” the letter states.

The letter claims that an intergovernmental agreement to hand over private financial data to Washington “would represent a gross violation of Canadian sovereignty and would violate the rights of Canadian citizens and residents under the Charter of Rights and Freedoms, the Canadian Human Rights Act, the Personal Information Protection and Electronic Documents Act, and other legal guarantees.” Continue reading →

#TorCen candidate @CAFreeland writes on global citizenship

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In view of Isaac Brock Society interest in the Toronto Centre by-election, the invitation to certain Toronto Centre candidates to align themselves with the anti-FATCA movement at the protest, I post this 2011 article by Liberal Candidate Chrystia Freeland.

Who is Chrystia Freeland?

According to a Government of Canada site -as of April 25, 2013:

Chrystia Freeland was born in Peace River, Alberta, in 1968, and attended the United World College of the Adriatic before studying at Harvard University, from which she received a B.A. in History and Literature. She was awarded a Rhodes Scholarship to continue her studies at St. Anthony’s College, Oxford University, where she earned a Master’s degree.

Freeland began her career in journalism as a stringer in the Ukraine writing for the Financial Times,The Washington Post and The Economist. She then worked for the Financial Times in London as its deputy editor, editor of its weekend edition, editor of FT.com, UK news editor, Moscow bureau chief and Eastern Europe correspondent.

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As #Americansabroad know: Voting and taxation should be based on residence and not citizenship

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This post appeared on the RenouceUScitizenship blog. You may want to add comments to the Globe article.

A very interesting article referenced in the above tweet. The comments are even more interesting. This article suggests a trend toward placing greater significance on residence than citizenship. Those opposed to U.S. citizenship-based taxation (everybody) may want to research U.S. jurisdictions where non-citizens are entitled to vote. Voting (deciding how a community is to be governed) and taxation (paying for the community) are part of the same issue.

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#FATCA natic Diane Francis explains why U.S. and Canada should merge

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It’s here. Opportunity for FATCA protest?

Diane FrancisDiane FrancisAuthor, Editor at Large, National Post, Distinguished Professor, Ryerson University’s Ted Rogers School of Managment

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12 Years a Slave Movie – Interesting Canadian #Offshore Connection

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If you haven’t seen the movie 12 years a slave I suggest you do so. In particular the last 45 minutes is extremely thought provoking. Incredibly the story takes place about 160 years ago. The good news is that the world as come a long way. That said, it is a reminder that “freedom” is a delicate thing. As Ronald Reagen would say:

Freedom is never more than one generation away from extinction.

The movie takes place before the Civil War and before the 14th Amendment. As you know the “Equal Protection” clause of the 14 amendment was for the purpose of giving Blacks equal citizenship.

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Happy Anniversary Ambassador Jacobson – Thanks for introducing me to Canada Grandmas

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Today is October 18, 2013. Exactly two years ago today Ambassador Jacobson made his infamous Canadian Grandmas speech. I think we should pass and ask a question that Ronald Reagen might ask:

Are you better off today than you were two years ago?

What follows is one of many Ambassador Jacobson posts that appeared (November 21, 2011) on the RenounceUScitizenship blog.

What’s U.S. expat to do? Time for the IRS to generate trust!

Can the IRS be trusted?

“When I read all of this I was concerned. So last week I called the Commissioner of the United States Internal Revenue Service to see what we could do. I explained the problem to him.

The result is that both he and I are sympathetic to the concerns. We are going to work together to see if we can’t find a way to accommodate grandma — and others — here in Canada. But we have to figure out a way to do it without letting the person who is trying to evade taxes in the Cayman Islands off the hook.

My message on this one is to sit tight. We are not unreasonable. We are not unsympathetic. We are not irresponsible.”

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Nestmann – Why Have So Many Americans Considered #Expatriation?

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So, while the media sound bytes tell you that expatriation is all about tax, don’t believe it. Sure, that’s a part of it, but the reality is much more complex.

 

My own experience with expatriated clients backs this up.

 

  • One who had lived in Switzerland for more than 40 years gave up her U.S. citizenship only after all of the banks she dealt with there closed her accounts. They didn’t want to deal with all the reporting requirements the USA requires if they accept U.S. account-holders. It’s easier just to fire their American customers.
  • Another client received a letter from the bank that had issued a mortgage years earlier for her home in Germany. The letter threatened to cancel her mortgage unless she could prove she was no longer a U.S. citizen. Rather than face a huge balloon payment, she gave up her passport.
  • A Canadian client contacted me after receiving a bill from the IRS for $20,000, despite being (he thought) 100% compliant with all U.S. tax and reporting obligations. He’d even hired a big-name U.S. accounting firm to prepare his tax returns each year, at a cost of more than $5,000 annually. He never owed any U.S. tax because taxes in Canada are higher than in the USA, but he still got screwed. It appears a Canadian educational savings plan account he’d set up for his daughter was the problem. Under Canadian law, gains in the account are tax-deferred—but not under U.S. law. That led to a big tax bill—and his decision to expatriate.

 

The fact is, more than 7 million Americans now live abroad. Many of them can no longer hold bank accounts, qualify for a mortgage, or set up a tax-deferred account for retirement or their children’s education.

 

U.S. corporate mergers end “US personhood” and #IRS discount – increase value

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If you haven’t seen the article referenced in the above tweet, you should read it and perhaps comment. There is clearly an “IRS Discount” associated with any U.S. person or entity. They just aren’t worth as much as other people. Sad but true.

The Readers Digest version is:

Corporations are simply merging with non-U.S. companies to end “US person” status. Too bad individuals can’t marry non-U.S. citizens and end their status of U.S. citizenship. This is a fascinating article.

The Holy Grail objective is described as follows:

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#FATCA – Making the world support US Homelanders

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This post appeared on the RenounceUScitizenship blog.

 

 

I came across the article referenced in the above tweet. It is a truly incredible story. You are strongly encouraged to read this article. This guy is just trying to “mind his own business” (no pun intended). All of a sudden he learns that he might somehow be subject to U.S. jurisdiction. He has no idea why or how and he can’t get good answers. It’s obvious that his only solution is to sever every possible tie to the U.S. and to any U.S. person.

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