Ex-PATRIOT Act full text released: you too could be a “specified expatriate”
The GPO has just published the full text of Schumer’s proposed Ex-PATRIOT Act (S. 3205). The act creates the new category of “specified expatriates” (a subset of 877A(g)(1)’s “covered expatriates”) and gives rules for determining who is a “specified expatriate”. It then imposes a tax of 30% on U.S. capital gains of “specified expatriates”, and makes them inadmissible to the United States. Continue reading
Guess when a Canadian TFSA is not really tax exempt?
Steve Mopsick – On the “coming into compliance dilemma”
Check this out. My question for all is this:
How on the basis of these facts, specifically not knowing about Mr. FBAR in the past, could this be construed to be “willful non-compliance”? Are you saying that the IRS might just make a decision to treat this as willful.? It doesn’t seem to me that in this letter you have:
“now admitted in writing that you are in willful non-compliance with your federal income tax and FBAR filing obligations for the past six years.”
Isn’t the test for willfulness: “The intentional disregard of a known legal duty?” If you don’t know of the duty, how can the disregard be intentional?
This would seem to me to be a very unlikely response from the IRS. If they do respond this way, the outcome is clear:
The word will get out and nobody will ever attempt to bring themselves into compliance again.
Love you hear all your thoughts on this.
Thank you Mr. Mopsick for a very thought provoking post!
https://twitter.com/#!/MopsickTaxLaw/status/204718333680033792
Did Obama “keep his word” to U.S. citizens living abroad? – keepinghisword.com
Check out the new “Keeping His Word” site from the Obama campaign. During his campaign Senator Obama made certain promises to U.S. citizens abroad.
In a recent comment Roger Conklin wrote: Continue reading
No Civilized Country Would Ever Banish Eduardo Saverin
This article appeared today in the American Thinker: No Civilized Country Would Ever Banish Eduardo Saverin, by Peter W. Dunn
The Ex-Patriot Act introduced by Senators Chuck Schumer and Bob Casey is a bill of attainder which would result in cruel and unusual punishment.
Of Memberships and Groups
I don’t want to belong to any club that will accept people like me as a member — Groucho Marx
Over the last day or so, on the Press Release Thread, we have seen perhaps the most sustained and extensive comment so far on the topic of what Isaac Brock Society is and who might speak as representative.
To start with, somewhere in the neighborhood of 350 different persons have posted to Isaac Brock Society by now. Not sorry to lose you probably does not want to count as a “member,” but so far represents an almost empty set. There are 29 persons currently listed as “authors.” Daily traffic runs in a usual range of 4000 to 5000 hits a day, sometimes taking a run up toward a 6000 ceiling. It could be speculated that for every active ongoing commenter there are 100 lurkers. Most days bring forth a handful of first-timers.
Continue reading
What was Congresswoman Marcy Kaptur (D) doing meeting with renounced US Citizen Kristina Keneally in 2007
A very good question and we have photographic proof. (This piece is very satirical and I am not good at writing satire so I apologize upfront)
To those on Capital Hill who think this site is just extremist they are wrong we just play hardball. In fact this meeting was covered by Toledo Blade and a article was published about it to which I linked to below. The reporter who wrote the piece now works for another newspaper in Connecticut.
So here are some questions I have for Congresswoman Kaptur, Senators Schumer and Casey, and Prof. Ackermann about this meeting:
Huffington Post: Rush Limbaugh and John Boehner / Saverin Legislation Con and Pro
Rush Limbaugh Defends Facebook Co-Founder Eduardo Saverin Over Tax Allegations
Eduardo Saverin Bill Backed By John Boehner
… and, of course, the comments.
Is it not delving into “socialism” to penalize Eduardo Saverin over and above what he is legally paying in exit taxes, so his further wealth gained from capitalism can be used to help pay the debts of the US? Seems he is obeying the law — but, don’t we know, how easily such tax or citizenship in the US be changed to suit the USA.
Laura Saunders weighs in: Should you renounce your U.S. citizenship
If this has already been posted, sorry for the duplication. This whole issue is starting to get traction. More than 200 comments so far. Looks like a good article.
https://twitter.com/#!/renounceus/status/204194743037595649