I think that there should be an article on IBS about the full ramifications of what FATCA and the potential IGA could do to Canada as a whole, not just from an “expat POV”. Right now all they see is “well…better you than me.” Most Canadians won’t be sympathetic until we explain what FATCA can potentially do “TO THEM”!
Author Archives: USCitizenAbroad
Anti #FATCA BRIC nations building political clout and alliance
This post is from the RenounceUSCitizenship blog.
Earlier this year I wrote that “Peaceful resistance to FATCA will result in a new financial order“. An article by Geoffrey York of the Globe and Mail suggests this may be starting to happen.
China leader's first trip highlights growing clout of BRICS nations http://t.co/BEbAHR8wpO – Anti #FATCA nations form political alliance
— U.S. Citizen Abroad (@USCitizenAbroad) March 23, 2013
The article is well worth reading. Note the following commentary and excerpts:
Letting go and moving on – how to deal with the anger
RT @atossaaraxia I've spent far too many Friday nights angry this month. – That's "far" too many!
— U.S. Citizen Abroad (@USCitizenAbroad) March 23, 2013
The following comment by Calgary deserves to be a post.
… and someone needs to write a book on the “human” side of this, the collateral damage, especially for families like yours, Animal. And yours, monalisa.
If only others really, really understood, we could (or I could) leave the anger behind and live my remaining years without the nagging worry in the back of my mind that my son’s situation (and me as the trustee of his finances) will be “caught” / that I am / we are criminals.
I don’t have the worry of having to visit aging, ailing parents across the line. Mine are both gone — and in many ways (as awful as that sounds), I am glad for that fact. I hate the burden on my one sister who understands all this by my unrelenting discussion to her of me, her Canadian sister, and family’s US citizenship-based taxation issues. It is a maze and we are blindfolded and we don’t have a step-by-step best procedure that will work.
PS — I am one who would be most hesitant to again cross the US border with my Canadian passport and CLN, especially if my son were travelling with me. That he would be safer to cross the US border with his Canadian passport that shows his Canadian birthplace with someone else rather than with his mother who has a Canadian passport with a US birthplace makes me sick to my stomach. But that’s my perception — I would not feel safe in doing that with him and some nice border guard asking if I was his mother, then putting two and two together.
I’m so glad both of you — and I wish so many others — were tuned in to Isaac Brock. And, I’m so glad it’s here for me and my unresolvable anger.
When law becomes a substitute for morality
This post appeared on the RenounceUSCitizenship blog.
Obama Compares Israeli-Palestinian Conflict to Arguments Between U.S. and Canada
The United States and Canada has arguments once in a while. But they are not the nature of arguments that can’t be solved diplomatically.
Not all #americansabroad are tax cheats – lawyer says
Although mentioned in a comment, this video is worth a post:
Newest Mopsick post – your thoughts on the perspective from the homeland?
Listen carefully to March 21/13 Canada Budget for Support for #FATCA IGA
March 17, 2013: Canada signs TIEA (Tax Information Exchange Agreement with Panama) http://t.co/CVGQJi1T31 – Prelude to #FATCA IGA?
— U.S. Citizen Abroad (@USCitizenAbroad) March 18, 2013
Ottawa Citizen article mentioning #offshore tax cheats is likely Gov propaganda piece to justify #FATCA IGA http://t.co/3dhUmgw5sT
— U.S. Citizen Abroad (@USCitizenAbroad) March 18, 2013
Patriotism, disloyalty, renunciation and the relation among them
Ron Paul and his son Rand Paul have been newsworthy items. On Friday March 7, 2013, Ron Paul spoke at the Manning Conference in Ottawa. Last week, Rand Paul of #STANDFORRAND fame was conducting a filibuster in the Senate protesting the appointment of Mr. Drone – John Brennan – to the head of the CIA. Both Paul’s believe that government is out of control and that liberty is under attack. Rand Paul was protesting the conduct of the Obama administration – specifically the Obama drone kills on U.S. citizens. He was opposing his government. Is Rand Paul’s opposition to the Obama administration unpatriotic? Have we reached the point where to support freedom is construed to be NOT supporting the government? Have we reached the point where to support freedom is unpatriotic? Looking at America today, one wonders.
What about renouncing US citizenship? Is it either unpatriotic or an act of disloyalty? Is the renunciation of U.S. citizenship necessary as an act of self defense? (A recent poll suggests a large number of U.S. citizens abroad feel they must renounce to defend themselves from a government turned predator.)
And back on the OVDP front, just when you thought it was safe
IRS Yanks OVDP Deal From Taxpayers With Secret Bank Leumi Accounts – Forbes http://t.co/3VWR6EdWVW – Kicks those previously accepted out!
— U.S. Citizen Abroad (@USCitizenAbroad) March 7, 2013
The Internal Revenue Service this week sent faxes to tax attorneys nationwide informing them that clients who were previously accepted into its criminal amnesty program for those who disclose once-secret offshore accounts, have “upon further review” been disqualified. The faxes, signed by John R. Tafur, director of of Global Financial Crimes at the IRS’ Criminal Investigation division, affect dozens of American taxpayers who had undisclosed accounts at Bank Leumi le-Israel Ltd., Israel’s largest bank, says Robert E. McKenzie, apartner at Chicago’s Arnstein & Lehr , who queried fellow top tax attorneys on a private email listserve after he received one such fax this week. He called the IRS’ reversal “scary” and “extraordinary”. Edward M. Robbins Jr., of Hochman, Salkin, Rettig, Toscher & Perez, the big West Coast tax defense firm, confirmed in an email to Forbes that “numerous” Leumi related rescission letters have been received.
Complete article is here.