The Congressional Progressive Caucus, one of the larger Democratic Party caucuses, has proposed to end the Foreign Earned Income Exclusion in their 2013 “Budget For All”, details of which were revealed yesterday following a vague press release last week. As U.S. persons abroad have already learned, when American homelanders use words like “all” and “us”, we are decidedly not included, except when they want money from us. Indeed, with this latest budget proposal, even members of the Americans Abroad Caucus have come out in support of eliminating the FEIE.
Category Archives: Issues regarding US persons abroad
The IRS and OVDI: Unintentional manslaughter or intentional murder?
Cross posted from RenounceUScitizenship
The IRS has proudly trumpeted OVDP and OVDI as successes. Both programs were understood to be attempts to go after “big time tax evaders”, “whales”, U.S. residents who were using “offshore bank accounts” and entities to hide income from the U.S. Treasury. That has been the conventional wisdom up until now. Of course, these programs also have had “well known” and “well documented” side effects. Specifically the “collateral damage” suffered by U.S. Green Card holders and U.S. citizens living abroad. But, of course as good Americans, we understand that this “collateral damage” is understandable, completely appropriate, and a necessary incident of good citizenship. To put it simply: A good American citizen or Proud U.S. Green Card Holder, should be prepared to suffer this “collateral damage”. Your “collateral damage” is your “Contribution to America”. Continue reading
Canadians have $100M stashed in Liechtenstein
“Just because Canadians have money in a foreign bank doesn’t mean they aren’t paying taxes on it.”
Come to think of it, just because U.S. citizens living abroad have foreign bank accounts, it doesn’t mean they are avoiding the payment of taxes!
You will have to click on the link to see the video:
http://www.ctv.ca/CTVNews/TopStories/20120325/canadians-taxes-liechenstein-120325
The nature of the beast: feeding on EX-pats
In a Greek classic, Physionomics, belatedly assigned to Aristotle, the author states that no animal ever had the physical aspect of one species and the personality of another. I would maintain that it is unreasonable for us to expect the beast of the United States to change from one thing to another, such as from a hawk to a dove. Our task really is to determine what sort of beast we are dealing with and adjust our behaviour accordingly.
"Organisation of Swiss Citizens Abroad" denounces discrimination by Swiss banks.
Again, for those francophones amoung our readership, here is an interesting article. http://www.lematin.ch/suisse/Des-Suisses-de-l-etranger-sont-discrimines-par-les-banques/story/12732075
Translation of the byline: The Council of Swiss Citizens Abroad is preparing a resolution to denounce certain Swiss banking practices. The text, which shall be submitted this Saturday to a vote of the Council’s 140 delegates, asks that Swiss Citizens domiciled outside of Switzerland (approximately 700,000 people) are treated in the same way as other Swiss persons by Swiss bank establishements.
The Q&A goes on to discuss Swiss banks who have refused to open accounts for, or closed the accounts of, persons living in the US, and mentions that there is cross-contamination of the problem to Swiss living in non-US jurisdictions.
“Le Conseil des Suisses de l’étranger prépare une résolution pour dénoncer certaines pratiques bancaires helvétiques. Le texte, qui sera soumis ce samedi au vote des 140 délégués, demande que les citoyens établis hors de nos frontières (quelque 700000 personnes) bénéficient du même traitement que les autres Suisses dans les établissements du pays.”
Travelling between the UK and Canada
A lot of people here in Canada have lately not viewed the UK favorably on many of the issues we discussed here. However, I wanted to post an article that recently went up the Independent’s website about some UK politicans complaining about the US trying it impose its infamous no-fly list on British Airways flights between the UK and Canada including flights from London to Calgary and Edmonton that don’t even touch or get near US airspace. The US is also insisting on seeing all the passenger details of UK flights to the Carribean and Cuba. I am somewhat familiar with past issues regarding Canada and the no-fly list so I welcome any comments.
FATCA Info Session, Ottawa, 26 March
Ottawa MP Paul Dewar (NDP Foreign Affairs Critic) is hosting a FATCA information session at Tom Brown Arena, 141 Bayview, Ottawa, Monday, 26 March, 7 pm. Other speakers include the NDP National Revenue Critic, the NDP Finance Critic, an accountant, and a lawyer. Full details on Mr. Dewar’s website. Thanks to Schubert for bringing this to our attention.
U.S. citizenship "resignation" vs. U.S. citizenship "renunciation"
https://twitter.com/#!/renounceus/status/184055970375286784
A real life story of a "US Person" chased out of the US
I believe this is the worst story I have heard yet. Unbelievable. I don’t know if this person will be available for contact but I am replying with our website in case he/she would like to talk with all of us.
Courtesy of Phil Hodgen site:
Video: Robert Wood speaks with Scott Drake on loss of U.S. citizenship
Another video I came across today on the subject of taxation of U.S. Persons in non-U.S. jurisdictions, and specifically on giving up U.S. citizenship — Robert Wood talking with Scott Drake on the Legal Broadcast Network. Looks like renounceuscitizenship beat me to it and wrote about this one a few weeks ago over at his own blog! Anyway, for those of our readers who are hard of hearing or just too impatient to watch a whole video, I’ve written up a transcript — you can click “continue reading” below to see the transcript, along with my own comments. Be forewarned: you will probably find the level and tone of discussion in this video to be rather disappointing.