And it just gets better. This is so funny that I just had to share it with you.
I discovered that one of “my” senators is up for re-election in 2012. So I went to her opponents website to learn a little more about him and read up on his platform. I really liked what I saw so I did what I do normally and sent a campaign contribution.
For those of you novice Minnows, like me, who want an insight into how those ‘Super Persons” Corporations play the Audit lottery, I highly recommend to you Jack Townsend’s recent post called Thoughts on the the Corporate Audit Lottery (2/11/12). Fair warning, this blog post may add to your cynical view of how the Tax game is played by those like GE who have the Tax Attorney resources to assure they have the lowest effective rate they can, like zero last year. In summary Jack says….. Continue reading
I thought I would link to an article I saw today mentioning that Alberta is launching a new recruitment drive to get skilled US workers to move to Canada. At a purely economic level it makes a lot of sense for Alberta is they have an unemployment rate that is starting to drift toward 4% at which point labor shortages start to occur. However, I can’t help but notice no mention is being made by the Alberta government of the US tax and filing requirements that these prospective US Citizen migrants to Canada are subject to.
Phil Hodgen is an International Tax Attorney who has been mentioned occasionally by me and others. He has a blog that I always read, if and when he is posting. He has in the past offered OVDP/OVDI information and/or advice with a twist of sardonic humor which I enjoy. One thing Phil does occasionally, when he is traveling, is sends out an email called a Jell-o Shot. Continue reading
This was harder to find than I thought it would be. I can’t see any potential complications for my kids. When my wife applies, she’ll just say my non-US nationality. Notice the 3-4th to the last question from the bottom. Sigh.
There are two recent articles that are calling attention to the need for tax code “rebuilding” or “trimming” or “pruning” or “you pick a term”. One in the Financial Times and one at the Wallstreet Journal. Is this the beginning of a chorus for real tax code change that could include a move to a Territorial system?… dah, I don’t think so either, but something to keep ones eye on.
I have tweeted references to them here…
Sorry I don’t have time to comment on this one, so for those of you at Isaac who understand French, you might want to read:
This post from Andy Sundberg is on: THE EVOLUTION OF U.S. CITIZENSHIP LEGISLATION SINCE THE FIRST CONGRESS IN 1789
This is the 5th in a series of posts from Andy Sundberg, Fellow and Secretary of the Overseas American Academy, where he discusses US citizenship taxation and related matters.
Hi, I found an interesting report from the 1990s the US Treasury did that deal with many of the issues being discussed here. For everyone’s reading pleasure I posted a link below.
http://www.treasury.gov/press-center/press-releases/Documents/tax598.pdf
Additional 1993 Report
http://archive.gao.gov/t2pbat6/149177.pdf
What is interesting is neither of these reports mention FBAR
Blimey! IRS Computers Dun British Lord for $13 Million
The IRS are even after British Lords. But it looks like the IRS will just have to throw its moneyed, titled catch (and his millions) back. Russell states in a lawsuit filed last month in the U.S. Tax Court that he “is not and never has been a U.S. citizen or resident alien subject to U.S. income tax.”
Lucky Lord Russell–He can afford a lawsuit. I don’t know if his American wife is compliant.
(Someone else posted this Forbes article elsewhere, but I thought this deserved its own thread.)
