Liberty and justice for all United States persons abroad

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Category Archives: Issues regarding US persons abroad

Accounting Today, Two new posts on FATCA

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Just a quick note to draw your attention to Michael Cohn, of Accounting Today who has been polific in writing about FATCA and offshore tax issues.

He is in the league with Robert Wood at Forbes in providing consistently good articles on the issues at hand.  Here are the two links to the two new stories today…

Taxpayers Strained by New FATCA Requirements

NYC CPAs want IRS to clarify FATCA Reporting

I always try to comment if I have the time when I see his stories for the reasons I have explained elsewhere…

The Charter of Rights proves to be Canada’s gift to world – Happy 30th Birthday!

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April 17, 2012 is 30th year anniversary of the Canadian Charter of Rights and Freedoms. Traditionally Canada has been an exporter of resources. Now, it is an exporter of constitutional rights. This article is worth reading from the perspective of a document that is responsive to change in the world. In contrast, the U.S. constitution (beautiful as it was at the time), along with the U.S. government is now completely dysfunctional. Continue reading →

China unleashes the new yuan

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China unleashes the new yuan

Monday, April 16, 2012

Loosened restrictions on the nation’s currency to shift trade patterns and build a rival to the U.S. dollarKEVIN CARMICHAEL

WASHINGTON — In a shift that could lead to a reshaping of the global economy, China’s government has loosened the tether on its currency, signalling the determination of the country’s leaders to make the yuan a rival to the U.S. dollar

https://secure.globeadvisor.com/servlet/ArticleNews/story/gam/20120416/NWCHINAYUAN0416ATL

 

A plea for comments to David Jolly’s NYT’s story on IHT Rendezvous.

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Guys and Gals, we have an opportunity to weigh in with comments to David Jolly’s NYTs article on Tax Complexity for American’s abroad.  It is not often the New York Times, the newspaper of record in America, does an article on our issues.  It would be a shame to miss the chance for some reasoned comments from Isaac Brock readers and commentators.

The article is now on their
IHT Rendezvous - Join the Conversationblog, and can be accessed under the title Americans, The Taxman Cometh.  You will have to create a free account, but you can remain anonymous if fear is the reason you are being silent.  There are only six comments so far, and I know this group is capable of far more than that!   Thank you!

NYTs article – For Americans Abroad, Taxes Just Got More Complicated

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Just another quick post to draw your attention to this April 15th article in the New York Times by David Jolly.

For Americans Abroad, Taxes Just Got More Complicated.

“It’s a monstrosity,” Steven R. Horton, whose tax practice in Paris advises American expatriates, said of the new demand from the U.S.Internal Revenue Service: Form 8938, the Statement of Specified Foreign Financial Assets. “It compels every taxpayer to try to find a way that they’re guilty of some kind of omission.”

David lives abroad, so these issues impact him too. You can follow David on Twitter @davjolly.

Tax day: 1040 reasons you should know Nina Olson

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Just a quick post to draw your attention to this Christian Science Monitor story on Nina Olson of the TAS.

This lady should be Commissioner Shulman’s replacement, but that would be too logical for Congress.  Even if Obama were smart enough to do that, the Republicans would block her just to spite him.  That is how the political game is played.

My response on Jack Townsend’s Open Forum Comments to Congress and IRS Regarding Tax Administration for Offshore Accounts (OVDP)

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Like Petros, I have taken the opportunity to place a comment on Jack Townsend’s invitation to comment on an Open Forum. Below is my comment awaiting approval: Continue reading →