Category Archives: Issues regarding US persons abroad

One thing that continually shocks me is just how many people are effected by the US’ Citizenship Based Taxation of all political stripes Doug Ford, David Alward, Elizabeth May, former Toronto Mayor David Miller, and now the children of long time and prominent Quebec Seperatist leader and founder of the Bloc Quebecois Lucien Bouchard. Here is wikipedia:

Bouchard separated from his second wife^[8][9], Audrey Best (1960–2011), a Côte d’Azur-born California-reared airline stewardess, who later became a lawyer, whom he met on an international flight.^[10] She was the daughter of James Best, a U.S. Navy officer, and his French wife, Marie-Josée Massay.

Bouchard is the father of two sons with Best, Alexandre and Simon, who hold dual Canadian-United States citizenship. Best held dual United States-France citizenship. She died on January 25, 2011, aged 50, from breast cancer.

I am curious what Bouchard thinks about current Bloc Quebecois leader Danielle Paille strong support of FATCA to root out “tax cheats” and other “scum.”

http://en.wikipedia.org/wiki/Lucien_Bouchard

http://en.wikipedia.org/wiki/Daniel_Paill%C3%A9

Other Canadians can probably describe to our non Canadian readers who Lucien Bouchard was. Sometimes something called Meech Lake is mentioned here all I will say is Bouchard was an a key player in it.

ACA posted this on this on Facebook today: ‘She is looking for Americans who have encountered banking and financial issues/problems (account closures, refusals of service, etc.) as a result of FATCA for an upcoming article. If you would like to participate please get in touch with Anita at:
Anita.Greil@dowjones.com
phone: 41 43 443 8044
cell: 41 79 649 2039′

Survey results show that the majority of American expat polled do not feel fairly represented by the US Government. Implications of the dissatisfaction may play a role in the upcoming elections as an estimated 6 million US citizens currently living overseas cast their votes in the hopes of having their concerns and needs addressed.

For years, we’ve been hearing from our customers a mounting swell of frustration and dissatisfaction with the government as it relates to addressing their concerns, particularly when it comes to their expat tax preparation.

New York, NY (PRWEB) October 04, 2012

New survey results show that more than 72% of U.S. expatriates polled do not feel fairly represented by the U.S. Government. The survey also found that, of those polled, 74% were either prepared or planning to vote. Conducted by Greenback Expat Tax Services, which specializes exclusively on American expat tax services, the results represent a growing dissatisfaction among Americans living overseas with the lack of support and attention paid to their unique needs.

“We’re not surprised by our survey’s results,” said David McKeegan, Greenback Expat Tax Services President. For years, we’ve been hearing from our customers a mounting swell of frustration and dissatisfaction with the government as it relates to addressing their concerns, particularly when it comes to their expat tax preparation.”…

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Hi, everyone I have been continuing to think about different ways to get this issued covered in the Canadian media. One outlet I keep on coming across is trying to get Steve Paikin on TVO to do a show on FATCA and US Citizenship based taxation in Canada. Paikin’s show tends to cover a lot of issues that don’t get covered anywhere else in the Canadian or US media and is willing to cover issues effected either Canada or the US or both. My thoughts on prospective guests which I might suggest to the producers include Phil Hodgen, Jackie Bugnion, Marylouise Serrato from the “US” and from Canada “Blaze” of Maple Sandbox fame who has a TV background,  Arthur Cockfield, someone from the CBA either Maura Drew-Lytle or Darren Hannah, and possibly either a Conservative or NDP MP(Craig Scott, Denise Savoie, Megan Leslie etc). At this time for personal reasons I cannot appear if it ever got to that point although I have to say it would be a dream come true for me to make a TV appearance.

Here is the link to the staff of the show. If any Brockers have a connection to any of these people let me know.

http://theagenda.tvo.org/about

If I don’t hear anything in a couple of days I am going to make my own approach to the producers and hopefully others can reach out and vouch for what I tell them. Additionally suggestions on guests are welcome. I want to give them a good list of people they can reach out and contact who are willing to go on TV.

http://www.680news.com/news/national/article/407898–whether-it-s-obama-or-romney-economy-key-to-canada-in-u-s-election-envoy

The single most important thing the United States can do for Canada is improve its ailing economy, says the U.S. ambassador to Canada.

Envoy David Jacobson says Wednesday’s first presidential debate will play in key role in determining whether President Barack Obama or his Republican challenger Mitt Romney get to tackle that job next year.

I have often said that the single most important thing the United States can do for Canada is to get our economy back on track,” he added.

“If we get our economy back on track, it has enormous positive implications for Canada.”

Jacobson emphasized he was speaking as the U.S. ambassador to all Americans, even though he is a Democrat who was part of Obama’s historic 2008 election team. He was the chief of Obama’s appointments office for the first nine months of 2009 before he took up his post in Ottawa, three years ago this week.

http://mopsicktaxlaw.blogspot.ch/2012/10/tax-justice-for-americans-abroad-some.html

You may qualify if you have less than $10,000 in U.S. Source income: Although it was not clear in my article, the Adams family was in trouble with the IRS simply because they had more than $10,000 in dividends from a U.S. based mutual fund. If that single fact were different and they could show the IRS that they never got more than $10,000 from a U.S. source, they could qualify under FAQ 52 category number 3, [2] provided they have been fully compliant with all the requirements of the Canada Revenue Agency during the years in issue.

What makes this provision particularly appealing is the statement in the rule which says,

For these taxpayers only, the offshore penalty will not apply to non-financial assets, such as real property, business interests, or artworks, purchased with funds for which the taxpayer can establish that all applicable taxes have been paid, either in the U.S. or in the country of residence.

This means that for the Adams family in my article, they can sign up for the IRS’s OVDI program and file the requisite number of back tax returns and delinquent FBAR’s, and exclude from the 5% penalty base, any valuation of his manufacturing company in British Columbia, his business bank accounts, his vacation home on Vancouver Island which he rents out, and Grandma’s trust provided it does not earn more than $10,000 from U.S. sources in any given year.

Even more appealing is despite the accounting fees and legal fees the family will need to pay to prove all this to the IRS, the foreign earned income credit and the foreign tax credit is likely to wipe out most or all of any U.S. taxes which might become due from their delinquently filed U.S. forms 1040***.