Cross posted from RenounceUScitizenship

The IRS has proudly trumpeted OVDP and OVDI as successes. Both programs were understood to be attempts to go after “big time tax evaders”, “whales”, U.S. residents who were using “offshore bank accounts” and entities to hide income from the U.S. Treasury. That has been the conventional wisdom up until now. Of course, these programs also have had “well known” and “well documented” side effects. Specifically the “collateral damage” suffered by U.S. Green Card holders and U.S. citizens living abroad. But, of course as good Americans, we understand that this “collateral damage” is  understandable, completely appropriate, and a necessary incident of good citizenship. To put it simply: A good American citizen or Proud U.S. Green Card Holder, should be prepared to suffer this “collateral damage”. Your “collateral damage” is your “Contribution to America”. Continue reading →

“Just because Canadians have money in a foreign bank doesn’t mean they aren’t paying taxes on it.”

Come to think of it, just because U.S. citizens living abroad have foreign bank accounts, it doesn’t mean they are avoiding the payment of taxes!

You will have to click on the link to see the video:

http://www.ctv.ca/CTVNews/TopStories/20120325/canadians-taxes-liechenstein-120325

Again, for those francophones amoung our readership, here is an interesting article.   http://www.lematin.ch/suisse/Des-Suisses-de-l-etranger-sont-discrimines-par-les-banques/story/12732075 

Translation of the byline:  The Council of Swiss Citizens Abroad is preparing a resolution to denounce certain Swiss banking practices.  The text, which shall be submitted this Saturday to a vote of the Council’s 140 delegates, asks that Swiss Citizens domiciled outside of Switzerland (approximately 700,000 people) are treated in the same way as other Swiss persons by Swiss bank establishements.

The Q&A goes on to discuss Swiss banks who have refused to open accounts for, or closed the accounts of, persons living in the US, and mentions that there is cross-contamination of the problem to Swiss living in non-US jurisdictions.

“Le Conseil des Suisses de l’étranger prépare une résolution pour dénoncer certaines pratiques bancaires helvétiques. Le texte, qui sera soumis ce samedi au vote des 140 délégués, demande que les citoyens établis hors de nos frontières (quelque 700000 personnes) bénéficient du même traitement que les autres Suisses dans les établissements du pays.”

A lot of people here in Canada have lately not viewed the UK favorably on many of the issues we discussed here. However, I wanted to post an article that recently went up the Independent’s website about some UK politicans complaining about the US trying it impose its infamous no-fly list on British Airways flights between the UK and Canada including flights from London to Calgary and Edmonton that don’t even touch or get near US airspace. The US is also insisting on seeing all the passenger details of UK flights to the Carribean and Cuba. I am somewhat familiar with past issues regarding Canada and the no-fly list so I welcome any comments.

http://www.independent.co.uk/travel/news-and-advice/planning-a-trip-to-canada-or-the-caribbean-us-immigration-may-have-other-ideas-7584912.html

Ottawa MP Paul Dewar (NDP Foreign Affairs Critic) is hosting a FATCA information session at Tom Brown Arena, 141 Bayview, Ottawa, Monday, 26 March, 7 pm.  Other speakers include the NDP National Revenue Critic, the NDP Finance Critic, an accountant, and a lawyer. Full details on Mr. Dewar’s website.  Thanks to Schubert for bringing this to our attention.

https://twitter.com/#!/renounceus/status/184055970375286784

I believe this is the worst story I have heard yet. Unbelievable. I don’t know if this person will be available for contact but I am replying with our website in case he/she would like to talk with all of us.

Courtesy of Phil Hodgen site:

http://hodgen.com/irs-chases-another-person-out-of-the-usa/

Continue reading →