Liberty and justice for all United States persons abroad

The Isaac Brock Society

Media and Blog Articles Open for Comments – Part 4 of 11 (Year 2017)

You can access all years at this link: Media and Blog Articles – Links for All Years

 If clicking on a comment link brings you to the wrong comment, click here  to get on the most recent page of comments.(alternatively, to reach the most recent comment page, go to  the url in the bar at the top of your browser and delete everything after http://isaacbrocksociety.ca/media-and-blog-articles-open-for-comments-part-4-of-4)

Media and Blog Articles

EmBee suggested that it would be good if there was a thread for new articles, so that people would be aware of where to comment.   So, I created this permanent page.   I’ll make a permanent list of links posted here and keep adding to it,  but not deleting, so we’ll end up having sort of a  “bibliography” of FATCA/CBT articles.  [Note:  Some articles are not open for comments]

For more articles on FATCA, enter FATCA into Google then click on the link “more news for fatca” just below the most recent featured article.

Notes:

From JC:   To see #FATCA on Twitter for latest breaking news.  JC finds that is quite a good source and there even are some international articles that one may read using Google Translate.   Others may help certain tweets and articles remain in elevated position by retweeting them.

From Badger:   On an important archival note, please use the Internet Archive Wayback machine https://archive.org/web/ (see bottom right ‘Save Page Now’ box to enter URLs of webpages you want saved for posterity, and try to save backup copies of articles and other items of interest in some other form – such as a datastick or external drive. Some important and very significant webpages and the fulltexts of articles are no longer available (although some can be retrieved if someone using the Wayback machine saved them).

Be sure to read the comment stream for this thread — there are usually very recent articles mentioned there that aren’t on this list yet.

2017.12.28
It’s time to address the double standard about tax havens, Angela Wrights, Macleans, Canada.
The US Is Becoming the World’s New Tax Haven, The Editors, Bloomberg View, US.
2017.12.21
Rep. Dina Titus Supports Americans Abroad Tax Reform, Democrats Abroad, US. 
Now That The GOP Tax Bill Is Approved, The IRS Gets Busy, Brian Naylor, NPR, US.
2017.12.20
Taxpayers will have to wait to find out how they fare under new legislation , Renae Merle and Aaron Gregg, Denver Post (reprint from Washington Post), US.
U.S. Shareholders –Take Action by December 31, KPMG.
2017.12.18
Have You Ever Felt Sorry for the I.R.S? Now Might Be the Time, Patricia Cohen, New York Times, US.
2017.12.12
EU finance ministers issue warning to Trump over tax reforms, RTÉ, Ireland.
2017.12.11
Banque: les consequences étonnantes de l’accord FATCA, Edouard Lederer, Les Echos, France.
2017.12.10
As Australia ousts MPs with dual citizenship, Canada’s Parliament embraces many in its ranks, Kathleen Harris, Canada. (mentions MP who “assumed his U.S. citizenship was automatically rescinded because he did not meet several requirements for continued citizenship. [But when travelling to Washington] was told he was ineligible to enter the U.S. on a Canadian passport because he was a U.S. citizen. He was . . . allowed in on a one-time basis . . . it cost him $3,000 to later sort out the administrative requirements.”)
2017.12.09
The American Diaspora: Outreach and Organization, Victoria Ferauge, The Franco-American Flophouse, Japan.
2017.12.08
Foreign-owned banks to be hit by US tax rules, Financial Times, UK.
Trump Tax Plan Worries Europe, Christian Reiermann, Der Spiegel, Germany.

For articles earlier in 2017, click here.

1,720 thoughts on “Media and Blog Articles Open for Comments – Part 4 of 11 (Year 2017)”

  1. Someone, not necessarily me, submitted a correction form suggesting that there was an opportunity for Newsweek to make up for its faux pas and actually cover the real story by talking to ordinary folk of modest means who are struggling with banking access and considering renunciation.

  3. The lobbying organization “American Citizens Abroad” is displaying this:

    “Although the IRS has not yet started certifying tax debt to the State Department for the Passport Revocation Provision legislation (certifications to the State Department will begin in January 2018), in recent meeting with the Taxpayer Advocate and other administrative offices, the opinion is that FBAR penalties will not considered as seriously delinquent tax debts and won’t be certified for passport denial or revocation. The IRS’s webpage on passport revocation alludes to this issue indirectly, see: https://www.irs.gov/businesses/small-businesses-self-employed/revocation-or-denial-of-passport-in-case-of-certain-unpaid-taxes. The website makes clear that the only “seriously delinquent tax debt” is eligible for certification to the Department of State and FBAR penalties are not federal tax debt. FBAR penalties are written under Title 31 which is not tax legislation which would be written under Title 26. ”

    https://www.americansabroad.org/news/update-on-passport-revocation-provision/

  5. Nice keeper comment from Jacqueline Bugnion on that Newsweek article.

    The article’s title and premise that Americans abroad are wealthy and that the wealthy are renouncing their citizenship is simply WRONG. Americans abroad are renouncing because their local banks (foreign banks for the US) refuse to deal with them due to FATCA, because FBAR reporting requirements on accounts over which they have just signature authority block them from career opportunities, because the cost of compliance is a multiple of that for US residents due to the complicated international filing, because the tax code leads to double taxation and taxation on phantom capital gains, – in sum because the law is unjust and discriminatory against Americans abroad.

  6. regarding Eric’s earlier comment

    Given the poor quality of journalism that has so far accompanied the latest “Liberty List” of persons who have renounced US citizenship (see the Newsweek article linked above by JC), I thought I would reach out and try to educate this journalist on the real reasons why renunciations are booming. I filled in the form on her website, and received some questions clearly aimed at trying to blame the uptick in renunciations on current US politics. I responded with a 1200 word essay outlining all the ways that US tax law discriminates against expats and explaining the process of renunciation.

    For my trouble, I got a reply asking whether I knew anyone who renounced because of Trump!

  7. @Karen: Sorry to hear that. Thanks for trying anyway. Maybe wait a couple of weeks, see if TTFI makes it into the House bill and survives the Senate; if not, send her the name of someone who is renouncing because “Trump is cutting taxes for corporations and not for individuals”. Perhaps close enough to her preconceived narrative of the situation that she’ll listen.

  9. That Newsweek article sure got the blood boiling but the comments are pure gold, every one! Reading them all was worth the previous spike in blood pressure!

  11. This is what I get when I try to access that Newsweek article:
    Error 503 Backend fetch failed

    Pulled down. So is that a victory? A misleading, non researched article, written to promote a narrative as fake news, now pulled down.

  13. I got “Error 503 Backend fetch failed” too but when I tried again a few minutes later there was no problem.

  14. I decided to printscreen the article/copy & paste the comments.

    I don’t know if it is just me, but the article seems different. Can anybody confirm it is the same or whether parts of it have changed?

  17. Newsweek article still works for me. Probably they have some stupid denial-of-service protection that just hand out 503 errors at random to IP address ranges they don’t like. Archive copies available here:
    https://web.archive.org/web/20171104020603/http://www.newsweek.com/more-rich-americans-are-giving-their-citizenship-avoid-taxes-699247
    https://archive.is/uLTRP

    Also Marketwatch reposted the WSJ article about renunciations. Comments open (Livefyre, which might also randomly block your IP because it doesn’t like furriners)
    https://www.marketwatch.com/story/americans-renounce-citizenship-at-record-pace-2017-11-02

  18. @Eric – I am unable to access the Newsweek site using a VPN (NY IP address) – still got the 503 error. And I had no trouble with the Newsweek site from my Australian IP address 24 hours ago. Not that I really need to get to the site – I was just curious to see whether there were more comments.

  22. Thanks for the laugh and the compliment (though unfortunately undeserved!) on my misrepresented talent. Reading IBS retroactively (retrospectively?) in reverse order of posting has become a natural and usually daily pastime…. I used to start my day with IBS even before coffee or brushing my teeth – much to the dismay of others in my household. I’m not quite as obsessive, but only because of necessity (ex. work).

    : )

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