Just Me copied the following to me:
FBAR_Compliant Just Me
JAMES FALLOWS continues on FATCA Menace with balance attempt from dissenting opinions. Fair enough. The Fatca Menace!
This is a followup to his New Years post, Fatca, the Menace you will hear about in 2012
So, the conversation and education of the “normal” Americans, on the Progressive side of the equation, has started! Let the merits of the opinions and comments be given full voice. We need the debate. I think it Continue reading
The argument in favour of the US’s citizenship based tax system has long been that citizens benefit from having an American passport, even if they don’t live in the United States. But for many expats, FATCA is tipping the balance and the US passport has become a liability. Expats living in Europe are finding it increasingly difficult to open bank accounts – a necessity of daily life. But European banks are simply protecting themselves from the exorbitant costs of FATCA compliance and risk of harsh penalties.
James Fallows has written an article in the Atlantic about FATCA. He has indicated he will write more about its unintended consequences on US citizens abroad in the future, based on the hundreds of links he’s gotten from people in Asia, Latin America, the Middle East, and Europe.
The link is: Fatca – The Menace You’ll Hear About in 2012
I noticed he didn’t mention Canada, so I have just written him to make sure he knows about the huge effect and consequences FATCA is having here.
Here is what I wrote: Continue reading
Just Me was successful in promoting our cause with James Fallow at Atlantic. We are all in debt to Just Me’s tireless efforts in this regard. I wrote this yesterday at the expat forum:
One of the reasons for the recent media attention to our issues is that people like “Just Me” and CAFREEB have tirelessly contacted the media whenever they can to congratulated them when they write an article on a subject, then in their communicaton to the author, they will add a perspective or two. (Win them over with honey not vinegar–something I have to learn how to do). Continue reading
Just Me sent me this:
At last a well known author and blogger, James Fallows of the Atlantic, with lots of cred in the progressive community, is writing about FATCA.
This hopefully will get attention in a more bipartisan way, as it is now not just a conservative or libertarian issue. It is an issue that can and will affect all Americans not just those of a particular political persuasion.
Not surprisingly, I saw this article this morning: here. The US has put banking sanctions on Iran, except those transactions within the scope of the energy market. When are people going to figure it out? Sanctions and prohibition just don’t work. All it does is push banned activities onto the black market, which usually end up hurting the lowest classes the most. Continue reading
2012 tax topics
24-Jan-12: US and Canadian tax compliance update
14-Feb-12 US immigration and citizenship planning for high net worth clients
INCLUDES “SURPRISE! Your Client May Be an American Citizen and Not Know It” AND “Terminating American Citizenship”
AND Difficult cases – children, young adults or diminished mental capacity
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This post is also on the RenounceUScitizenship site.
Yesterday I wrote a post describing why FBAR and FATCA will make U.S. born children unadoptable. After all, they carry with them U.S. tax filing and reporting obligations. The general toxicity of U.S. citizenship is such that non-U.S. citizens will NOT wish to risk financial involvement with U.S. citizens. Here is another example.
Just Me sent me the following OVDI story from Jack Townsend’s blog:
Anonymous said…
I moved outside the US as a poor student, never having had enough money necessitating acquaintance with Schedule B.
Continue reading
YET ANOTHER TWIST: It is requested by this BC adoption agency that word be spread to any Canadians who have adopted a child from the US: http://www.sunriseadoption.com/node/938
All children born in the USA and adopted by Canadians over the past number of years (of which there are several hundred) are US citizens. This, of course, brings a number of rights and responsibilities. For example, they would be subject to a military draft.
The USA is the only country in the world that requires its citizens to report on their world-wide income, file a tax return, and pay US taxes, no matter where they live and irrespective of what other citizenship they hold. Continue reading
