http://thinkprogress.org/economy/2014/01/22/3191631/fatca-tax-evasion-repeal-rnc/
Lets pound this bastard into sand.
NDP Press Release: Canadians Deserve Answers on FATCA
Thanks, Badger, for posting the NDP press release issued today.
FOR IMMEDIATE RELEASE
January 22, 2013
CANADIANS DESERVE ANSWERS ON FATCA
OTTAWA – Conservative Finance Minister Jim Flaherty must address growing public anxiety about the U.S. Foreign Account Tax Compliance Act (FATCA), and secret negotiations over an Intergovernmental Agreement (IGA) for the implementation of FATCA in Canada.
“A complete lack of transparency, communication and consultation on the part of the Conservatives has exacerbated fears among those who have serious concerns about FATCA,” said NDP pensions critic Murray Rankin (Victoria). “Negotiations are being held behind closed doors while Canadians remain in the dark as to the integrity of their personal banking information.”
Reports suggest that if implemented, an IGA may require Canadian banks, Continue reading
Rick Mercer Report: Foreign Accounts Tax Compliance Act
Have you or anyone in your family ever been an American?
It’s time to double check.
Welcome to the Party Pal: Top IRS FATCAFanatic Jesse Eggert moves to France
http://www.linkedin.com/pub/jesse-eggert/40/b93/133
I don’t have any more details about Mr. Eggert but he appears to have left the employ of Treasury/IRS and is now living in Paris working the OECD.
For this not familiar with Mr. Eggert here is a video of him sparing with friend of the site James Jatras at George Mason University:
Possible relinquishment route for CLN for some duals-at-birth in Canada
Some persons born dual US-Canadian citizens at birth, particularly those born of even one Canadian parent on US soil and with no adult connections to or claims on US citizenship, may have a viable relinquishment option (as distinct from a renunciation option, open to almost everyone) for getting a Certificate of Loss of Nationality of the United States (CLN). Please see other threads of this and our partner website for a discussion of the difference between relinquishment and renunciation and why it might matter to you.
I learned yesterday by private email something I had suspected but had not been confirmed. Some duals-at-birth have, ideally after the age of 18, applied for an received a Canadian Citizenship Card from Citizenship and Immigration Canada at some point in their past. To get such a card, one has to provide evidence (in these cases) that at least one parent was a Canadian citizen at the time you were born, and you also must swear and sign an oath of allegiance to the Queen of Canada.
Globe and Mail Suggests that Canadian/US Relationship Heading for More Friction
Interesting commentary piece in today’s Globe and Mail suggests that Harper and Obama have run out of patience with each other, and we should expect this situation to get worse not better.
The usual suspects of disagreement are trotted out from the stalled Keystone XL pipeline to the recent posturing on Israel that Harper is milking for all that it is worth.
However, the author makes no mention of the FATCA IGA that no one outside the sitting government seems to have any firm details on, nor does it mention the coming panic in Canada when more and more Canadian citizens fall victim to the blatant financial data grab that FATCA really is.
There were about 90 comments. I didn’t note any FATCA related ones but perhaps those Brockers who comment at G&M might have the time to add FATCA to the list of irritating issues between Canada and the US.
“January 2014 FBAR/FACTA (sic) Tax Update for DA Members”
Democrats Abroad has just released a new report from its FBAR/FATCA Taskforce. Overall, it looks like most of its policy ideas have been cribbed from ACA without any attribution. Most unfortunately, the report’s authors can’t resist turning a disaster which cuts across party lines for all U.S. Persons abroad into just another excuse to take cheap partisan pot-shots as it concludes:
Republicans Abroad has been conspicuous by their absence in lobbying for reforms to FATCA. Political operatives at the RNC have woken up to the issue and have formed a new entity called Republicans Overseas to make political capital out of a FATCA repeal effort. They hope the movement will stir sentiment and drive overseas votes to Republican candidates and raise money. Their plan is at best quixotic and at worst a blatant political ploy – in either case it is likely to fail given the commitment that regulators have demonstrated to implementing the law and the recognition in the US and globally that tax dodging must be stopped.
Here, then, is the text of this new missive:
Democrats Abroad marks the start of tax season (woo hoo) with a new report, copied below, from the Democrats Abroad FBAR/FATCA Taskforce. This Task Force examines financial reporting requirements affecting Americans with accounts in foreign financial institutions and works to lessen their unintended adverse impacts on overseas Americans. We hope this report is helpful. Democrats Abroad supports government efforts to block and catch Americans avoiding tax through illegal means. We also urge the government to recognize that most overseas Americans are honest citizens, not tax cheats or money launderers.
Important: Please be reminded that we do not provide personal advice on US tax issues and obligations.
Please also go to the Task Force webpage on www.democratsabroad.org for more information on the Task Force and an archive of past communications about their work. This is the link: https://www.democratsabroad.org/group/da-international/fbarfatca-task-force-page-updated.
If you log in to www.democratsabroad.org you can join the FBAR/FATCA Task Force Group (See Email Notification Settings in the right hand column and click on “Notify me of postings of this group”) to post comments. We welcome your comments on the website.
Katie Solon
International Chair
Democrats Abroad
Could it be? Another #FATCA delay? Perhaps FATCA is nothing but a myth!
Rumor Has It – Another FATCA Delay? | Let’s Talk About: US Tax http://t.co/2cQEaAWz2K
— V. La Torre Jeker JD (@VLJeker) January 20, 2014
Interesting “hot off the press” post from Virginia La Torre Jeker, coming on the heels of this Eileen O’Connor Forbes article describing the difficulties of the FATCA rollout.
New U.S. Tax Regime (#FATCA)Trampling Rights in New Zealand and Beyond
February 3, 2014 UPDATE: Urgent:
Public submissions can be made from anywhere in the world. All that is required is a name, email address and phone number. But you will have to be quick as the link will be closed at midnight on Wed 5th Feb New Zealand time. I hope you will find time to express your opinion to them. The link is here:
http://www.parliament.nz/en-nz/pb/sc/make-submission/50SCFE_SCF_00DBHOH_BILL12926_1/taxation-annual-rates-employee-allowances-and-remedial (scroll down to “make an online submission”)
Osgood’s excellent recent analysis of FATCA IGA ‘enabling’ legislation in New Zealand has inspired another article at The New American.
Under the pretext of extracting more wealth and personal information from Americans living abroad by smashing all remaining vestiges of privacy, the Obama administration’s Treasury Department is bullying authorities around the world into signing unconstitutional pseudo-treaties with drastic implications for individual rights. Developments in New Zealand, where officials are already jumping onboard the deeply controversial U.S. Foreign Account Tax Compliance Act (FATCA) bandwagon, illustrate the problems well.
Alex hits a home run again. I understand that this plus other the articles on FATCA here, here and here will be in their print version too. Every new article helps, so keep chipping away at it Brockers! Reach out to every journalist you can!
@BarackObama view of equal treatment under the law – #Americansabroad should have a Geithner
The IRS Penalty waiver rule for Sec of Treasury Geithner should apply to Expats & immigrants caught in #OVDI net http://t.co/zl9zDdV3#FATCA
— Marvin Van Horn (@FATCA_Fallout) June 1, 2012
As I watch this video, I am reminded of the horrible horrible IRS abuse of Americans abroad. Also reminds of Badger’s suggestion for Americans Abroad.
Really, they should all just “have a Geithner”.