Some discussion in a recent thread has caused me to change the tagline of the Isaac Brock Society by removing the words “in Canada and”. I think this gave the wrong impression that, because US persons in Canada started this blog, we see it as a Canada-only fight. But from the beginning we have encouraged our international contingent of writers and participants.
Category Archives: Issues regarding US persons abroad
Keeping Tabs – More Banks "Firing" US Clients
The following item is an excerpt from Rubinstein & Rubinstein, LLP:
January 29, 2012
U.S. Clients Not Welcome at Offshore Banks
We’ve been keeping a tally of foreign banks that no longer welcome U.S. clients. While UBS and Credit Suisse have been closing offshore accounts for U.S. clients and transferring the clients to on-shore, tax-compliant divisions, other offshore banks have been firing U.S. clients outright.
Comment from a 30-year IRS vet
We received the following comment from 30 Year IRS Vet:
This web site is a wonderful opportunity for people to vent about the new IRS initiative to focus on offshore compliance. I would guess that most people fall into one of two categories: those who are “off the grid” and do not file nor do they have any intention of becoming compliant with their US federal tax obligations and those who are sincerely attempting to figure this all out and determine what to do and then make a good faith effort to comply.
DFAIT Info Section on Dual Nationality
I thought it would interesting to post a link to DFAIT (Canada’s ministry of Foreign Affairs) info section on dual nationality.
http://www.voyage.gc.ca/publications/dual-citizenship_double-citoyennete-eng
Some interesting points they make:
You are a dual citizen if you are recognized by more than one country as a citizen. In some cases, you may not be aware that you are a citizen of another country. Dual, or multiple, citizenship may occur by choice or default and result from:
Financial Post: Canada-U.S. trade relationship drifting apart
Eric Lam says that while the Canada and the United States have a committed marriage trading relationship, this doesn’t stop them from committing affairs with others.
Scotia Bank: December 31 Letter to Clients from Scotiabank, for review
Sent to me from a friend:
Letter from Scotia Bank (update, I’ve removed the pdf and have included a link to Scotiabank’s nicely formatted Winter newsletter which contains the same text).
The Great Escape – the Future of the American Diaspora
I found this site the other day and I thought it was very interesting. We know that the American Diaspora stands at about 6 million right now but what will it look like in the future?
This fellow and his organization (Americawave) think it will grow. He’s done some interesting studies with MPI (Migration Policy Institute). Here are some of his results: Relocation Statistics. He also produced this video that he posted on Youtube:
On his site there is also an article he wrote for Barron’s entitled The Great Escape. It’s less about sheer numbers and more about the kind of person who is considering relocating: young, educated, just starting a career, the adventurers and entrepreneurial types.
I had an email exchange with him and asked him about the impact of citizenship-based taxation on this group of potential migrants and he replied that he didn’t think anything was going to stop these young folks from heading out into the world. I think he’s absolutely right. 🙂
Swiss People's Party Editorial on Swiss Gov't Policy, Banking, Sharing of Information
Appreciated Conversation with Honourable Mike Sullivan (NDP), fellow US Person in Canada … Reasonable Cause, Certificates of Loss of Nationality, etc.
Mike Sullivan, MP, York South-Weston, has given his permission to share my email “conversation” with him.
My original email to Honourable Mike Sullivan, MP (NDP):
Freedom of Emigration in East-West Trade, USC Title 19 § 2432
We have seen that the United States condemns Eritrea’s extra-territorial taxation of its citizens abroad. But did you know that according to Federal Law, the United States would not be eligible for normal trade relations with the United States because of its expatriation exit taxes?