As you know, Maple Sandbox is a gathering place for us to come together to share, learn, explore and grow together.
To stand up to IRS bullies, we need information as quickly as it becomes 
available. We need to learn from each other around the world.
I hope What’s New will be a building block for sharing those stories from the media or your own experiences.
What’s New will allow you to post articles under one central thread, rather than spreading them out through many different threads. It also will give you the opportunity to share any other information you have with others.
Of course, some news and information will have still have threads of their own.
Please share your news, scoops and ideas.
What's New?
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679 responses to “What's New?”
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Here is an excellent post from renounceuscitizenship on The Two Faces of FATCA (Public for Banks, Private for Americans Abroad.)
He links to several articles and other sites. My favourite is Mountains of Paperwork for IRS and how wasteful the whole process is. Check out the photo for the paperwork for filing a “simple” return.LikeLike
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FATCA Perspective From Russia
#FATCA perspective from Russia: Tool for building Pax Americana
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As we end one more year with FATCA hanging over our heads, here are a few articles.
The Incredibly Shrinking American…Abroad by Norman Solomon.
New US Tax Regime Is Devastating by Alex Newman. He also calls FATCA “draconian…byzantine…controversial…and complex.”
The above two authors get the impact of FATCA on Americans abroad, but did not mention former Americans, accidental Americans, or naturalized Americans or Green card holders who return to their homelands.
It was disappointing Steven Mopsick’s blog on FATCA (One Good Reason To Do Something About Your Foreign Account) did not differentiate between tax evaders in US with money stashed offshore and those of us with legal bank accounts in the countries where we live, earn an income, save, invest and pay taxes.LikeLike
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Too bad the New American is a right wing rag “friendly” with the John Birch Soc. Means that very few will take it seriously.
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Happy New Year 2014!!
For all the Wonderful People at Maple Sandbox!LikeLike
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To all defined “US Persons” (past, present, accidental, “green carders”, permanent residents of, spouses, business partners, signatories) who wish for common sense to someday prevail: BEST IN THE NEW YEAR.
Continue to speak up for what you know is right!! You have my respect.
Best to You and Your Families.LikeLike
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KalC is so right about this article being perceived as John Bircher. I was dissed on a liberal democratic blog for putting up. My post had 1 rec, about 6 replies but it did have 450 views last night. I was so offended to be called a bircher but can laugh today. My anger has disappeared and I have a hope that there were some of the viewers benefited reading the article. It was a very good one in my opinion.
Happy new year, Everyone. May we get our wish for FATCA to be stopped.LikeLike
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This isn’t actually new. It’s two years old. Thanks Noble Dreamer for tweeting The FATCA Menace in The Atlantic January 2, 2012.
Unfortunately, not much has changed in two years. Honest people are still being terrorized by FATCA while political staffers dismiss its impact.LikeLike
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FATCA: The Single Worst Tax Law on the Books?
https://taxconnections.com/taxblog/fatca-the-single-worst-tax-law-on-the-books/#.Uss1WO08hFZ.twitter
The only problem I see with the article is the question mark in the headline. I would say it is definitely the worst tax law on the books.LikeLike
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At first it seems this article about an aboriginal mother’s fight for care for her disabled son has nothing to do with us. However, reading it is very alarming. The government has already spent more money fighting her than they would have spent on her son’s care.
The mother, who had a debilitating stroke in 2010 is only asking for the same level of care that a non-aboriginal disabled child receiving services through the province would receive.
The Federal Court ruled in her favor last spring. The federal government is appealing. Even worse, the government is asking that if it wins, Beadle and the Pictou Landing First Nation pay the government’s legal costs.
The federal government is sending a clear message, Beadle’s lawyer said.“It sends a message that you better not think about bringing a case against the federal government or if you do, you better buckle up because it’s going to be a multi-year and very expensive fight,” Champ said.
The article gives other examples of where the government has spent millions fighting human rights and Charter cases in the courts involving First Nations Canadians.
The national chief of the Congress of Aboriginal People said:“Instead of spending all this money … sit down and negotiate. It’s a lot cheaper.”
Unfortunately, this government does not seem to be in a mood to negotiate–except when they are negotiating our rights with a foreign government.
Get ready everyone. We could be in for a long, messy and expensive fight if we have to challenge FATCA. (which I still hope we won’t).LikeLike
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I’d like to make it more clear that the province isn’t discriminating between aboriginal and non-aboriginal children. His mother is asking for the same level of care that any disabled child, non-aboriginal or aboriginal-living-off-reserve, would receive from the province. According to the CBC article:
“His mother, Maurina Beadle, who suffered a debilitating stroke in 2010, is seeking the same level of care that the province would provide to an aboriginal child off reserve.”
I think the boy is receiving federal services because he’s living on a reserve, but if he lived off reserve he would be receiving provincial services instead; and she’s referring to that if he lived off reserve, he would receive from the province the same level of care as a non-aboriginal child, so the feds should match that.
At any rate, I completely agree the feds should be providing equal to what the province would. And I also think it augurs badly that the feds are willing to spend so much on litigating an injustice.LikeLike
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IRS top cop says the agency is too hard on offshore tax dodgers
http://finance.fortune.cnn.com/2014/01/09/irs-offshore-accounts/LikeLike
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Good find, SwissPinoy. While the article, again, focuses on a rich tax evader,at least the final paragraph has a good quote from Nina Olson.
‘While Olson’s report does not mention the Warner case, it criticizes what it calls the IRS’s harsh treatment. “The penalties,” she writes, “are often Draconian and may deter other taxpayers from coming into compliance.”‘LikeLike
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This is very new!
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, investment funds and other financial institutions to disclose annually to the U.S. Internal Revenue Service (IRS) information on accounts held by American citizens, including dual citizens in Canada. Concerns have been raised that such a system could potentially violate existing Canadian privacy laws.
“Canada cannot accept an agreement that violates Canadians’ rights,” said Rankin. “I am asking that the government acknowledge the very legitimate public concerns about the FATCA, bring transparency to this process and inform Parliamentarians on the state of negotiations as soon as possible.”
Rankin sent a letter to Flaherty outlining several concerns about FATCA and demanding urgent action.
For more information, please contact:
Kiavash Najafi, Press Secretary, 613-852-6186 or kiavash.najafi@parl.gc.caLikeLike
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Catch Rick Mercer’s recent rant – ON FATCA!!!
http://www.cbc.ca/mercerreport/videos/clips/foreign-accounts-tax-compliance-act
Thanks goes to several people at IBS who saw this on CBC on Tuesday and wrote about it, plus whoever found the link today.LikeLike
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Whew. It’s been a busy day. I’ve posted a few articles in various threads, other articles and the “response” from the Canadian government in their own thread and there are even more.
I will post these then I’m logging out. I’m FATCAed out for the day.
Allison Christians says Citizenship-Based Taxation and Taxpayer Rights Don’t Mix.
Patric Cain of Global News wonders Is Ottawa Stalling Because U.S. Is Not Ready for FATCA.
Samuel Clemmons on Legal U.S. Immigrants Next In Line for Their FATCA Whoopin’ From the IRS
All of these would have been worthy of a thread on their own, but I’m just overwhelmed for today. Good night everyone!LikeLike
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FATCA Fighter Nigel Green continues to speak out against FATCA. The DeVere CEO Backs FATCA Repeal.
Mr.Green says:Fatca relies on a ‘dragnet approach,’ requiring the private financial information of millions of ordinary Americans, of whom the vast majority are not suspected of wrongdoing. Most don’t owe any tax, but information must be reported on the off chance some hidden offshore assets are found along the way. It’s a highly ineffective and extremely costly approach.
He also speaks of the many FATCA problems for individuals and banks and of the increasing number of renunciations.
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I don’t have author privileges at Maple Sandbox. However, I have just posted John Richardson’s New Zealand submission at Isaac Brock. I hope someone, perhaps IRSCompliantForever?, will post it here:
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Steven Mopsick has come out in our corner on his blog.
The headline in his post FATCA: There’s No Point In Complaining. It’s Here To Stay seems like he will tell us to stop whining.
Turns out that was a quote from a linkedin comment.
Steven concluded:The outrage expressed by Canadians, accidental Americans, Americans abroad, and others from countries with a tradition of democratic rights and institutions is very real and cannot be dismissed lightly…We as tax professionals have a duty to learn the new rules and advise our clients what they are at risk for, but there is no sugar coating the message that personal privacy and the sanctity of the individual in society have been eroded beyond recognition by FATCA and its “one world” agenda.
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Blaze..
Do you have a link to your list of published Op-eds, and alternately, do you know a link to the Obama video talking about FATCA in the early days as a simple 1099 process? I am sure you mentioned it in one of your articles I can not find right now. Thnx
I think I found the reference.. but NOT the link to the You tube video
http://thehill.com/blogs/congress-blog/foreign-policy/313775-fatca-simple-premise-gone-terribly-wrongLikeLike
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Never mind, I found the video…
We should keep it linked or displayed prominently, as here is where the FATCA ball started rolling…
2009LikeLike
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US diplomat says: “And you know, fuck the EU”. See youtube at 03:01
http://www.handelszeitung.ch/politik/us-diplomatin-scheiss-auf-die-eu-563715
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This says it all:
United States shares an interesting commonality with Eritrea and North Korea – it levies taxes on a citizenship basis.
http://www.pennstatelawreview.org/the-forum/a-quick-glance-at-fatca-and-the-tragedy-of-double-taxation/
Then, there’s this no-brainer sentence from another articleMany Canadians don’t exactly consider Canada offshore.
wallstwatcher.com/canada-signs-u-s-fatca-deal-irs-to-get-data/
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Just received an email with this link (thanks Mike!):
http://www.forbes.com/sites/robertwood/2014/02/06/americans-renouncing-citizenship-up-221-all-aboard-the-fatca-express/
“Americans Renouncing Citizenship Up 221%, All Aboard The FATCA Express”LikeLike
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Here’s an interesting twist on all of this. In the article Help, I want to expatriate, but they won’t let me, we learn children of sperm and ova donors who are US citizens will become US citizens.
http://blogs.angloinfo.com/us-tax/2014/02/10/help-i-want-to-expatriate-but-they-wont-let-me/The US Department of State applies a basic rule for recognizing US citizenship of children born abroad. Under this rule, what counts is the actual blood relationship and nothing else. In other words, if the donor is a US citizen, the donated ova or sperm can transmit the donor’s US citizenship to the future child…“US citizenship is not automatically conferred by an American surrogate mother or a same-sex American partner. This situation can cause delight or anguish, depending on the circumstances, especially if the parent(s) were unclear about the legal situation beforehand.” So, before accepting that donated egg or sperm you had better check whether the child will be carrying the desirable? undesirable? US citizenship trait as well other traits!
How much more bizarre will this whole thing become?!? They are totally loony down there–but it’s our dollar that’s called a loonie!
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NBC reported on the record number of renunciations. They speak about the compliance burdens, but only skimmed over FATCA.
http://www.cnbc.com/id/101406922
Global New’s Patick Cain has written about how the US list of ex-citizens is full of errors and omissions.
http://globalnews.ca/news/1142010/did-exactly-3000-lose-u-s-citizenship-in-2013-maybe-but-data-is-suspect/LikeLike
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Push back to FATCA from Israel. Thanks to Saddened for sending this to me.
http://www.jpost.com/Opinion/Columnists/Pushing-back-against-the-worst-law-you-never-hear-of-341247“FATCA is fine example of legislation at its worst”
The author writes about Flaherty’s outrage. We know how that worked our.
We need to keep up the fightThe multinational grass-roots effort by ordinary Americans living abroad to repeal FATCA is gaining traction. If successful, it will be an impressive victory for citizen activism and for common sense.
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I am asking for clarification of who can and who must not be allowed to purchase Canadian registered savings account investments: http://isaacbrocksociety.ca/2014/02/15/my-plea-for-clarification-on-the-rdsp-and-other-canadian-registered-savings-plans-are-these-now-for-purchse-only-to-canadians-who-are-not-us-defined-us-persons-in-canada/
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Anyone looking for a job? RBC is offering Career Opportunities: Team Manager FATCA Customer Support Functions.
RBC seeks someone to “deliver superior client experience” I’m not sure how that’s possible with FATCA,
Another responsibility will be to lead efforts to assess and address client escalations. (I think that means dealing with irate customers. I think there will be more than a few of those.
We certainly probably have the FATCA knowledge. Strangely, that is not a job requirement. I wonder if the candidates will have any idea what they are getting into.
You must be bilingual. Perhaps Victoria is looking for a job closer to her daughters in Montreal?LikeLike
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Just a note for anyone checking here at Maple Sandbox — Isaac Brock is experiencing “Resource Limit Is Reached” errors / problems — too much traffic, which is impacting how the spam filter is working.
Don’t worry — none of anyone’s comments are being deleted or spammed, but some are “awaiting a spam check”. Petros is working on this and also the possibility of moving Isaac Brock to a dedicated server.
Hang in there with us.LikeLike
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A couple of good articles today.
The International Business Times says Political Backlash Over Privacy Could Come As Tax Evasion (FATCA) Reform Heats Up.
http://www.ibtimes.com/political-backlash-over-privacy-could-come-tax-evasion-reform-fatca-speeds-1557585
The headline again makes it sound like FATCA is about tax evasion, which we all know it isn’t. But, it gets some things right.
Allison Christians calls it right. “It’s about financial surveillance.”
Allison Christians says if the US tries to provide reciprocity the political firestorm would be enormous” in Congress.
A private investigator who used to work for the IRS says FATCA will not stop Americans from being able to hide money offshore. He suggests ways the real tax evaders will find other ways to continue to dodge taxes. He thinks reciprocity will cause FATCA to have a “natural death.” I would like to see murder of FATCA way before that happens!
Solomon Yue of Republicans Overseas calls FATCA “a dragnet approach just to capture a few people.””
Then, of course, there are the FATCA cheerleaders, including one in the Cayman Islands.LikeLike
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Oops. I neglected to post the second article that i mentioned.
torontoobserver.ca/2014/02/24/canadian-warns-u-s-citizens-aboard-of-new-tax-collector/
In the Toronto Observer, Peter Dunn of Isaac Brock tells people to ask themselves an important question: Am I really an American citizen?
He feels betrayed by the IGA: “I’m scandalized by the fact that the Canadian government signed the IGA,” he said, “and basically, in writing, accepted that the U.S. has the right to assert their sovereignty over Canadian citizens… The Isaac Brock Society is doing what the government won’t do—and that is protect people living in Canada.”
Emily Gilbert, a cross-border specialist at the University of Toronto says “There’s a danger about the precedent it sets around the kinds of information we share with foreign bodies.”
And John Richardson pointed out when Canada changes its laws at the request of another country, there’s a problem.LikeLike
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Senator John McCain SUPPORTS FATCA and strongly denounces Republicans Overseas
Read the report by John McCain and Carl Levin: OFFSHORE TAX EVASION: The Effort to Collect Unpaid Taxes on Billions in Hidden Offshore AccountsClick to access REPORT-OFFSHORE-TAX-EVASION-Feb-26-2014.pdf
Notable excerpt:
“Improve Prosecution of Tax Haven Banks and Hidden Offshore
Account Holders. To ensure accountability, deter misconduct, and collect tax revenues, the Department of Justice should use available U.S. legal means, including enforcing grand jury subpoenas and John Doe summons in U.S. courts, to obtain the names of U.S. taxpayers with undeclared accounts at tax haven banks.”LikeLike
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Here’s what’s new: Thank you all!!!
Thank you; Thank you; Thank you — everyone, especially Blaze (and tiger and somerfugal) for their initial meetings on possibility of this, IRSCompliantForever, GwEvil, Trish — for making it all happen.
THIS good news is good for our souls!!!LikeLike
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FATCA Puts Canada and Costa Rica in IRS Pockets.
http://news.co.cr/fatca-puts-canada-and-costa-rica-in-the-irs-pockets/33627/LikeLike
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Here is a post I just put on Isaac Brock re Calgary information session:
Alberta: CALGARY Information Session on ‘Solving the Problem of US Citizenship’ – CONFIRMED
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IRS doesn’t have enough money to use FATCA information
http://www.bloomberg.com/news/2014-03-24/irs-budget-crunch-limiting-use-of-foreign-government-data.htmlLikeLike
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This website has learned the nasty habit of going to the earliest of a series of comments rather than the last. Endless scrolling ensues. Is it fixable?
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@Hazy: Thanks! I think that needs a thread of its own. I will start one.
@KalC: The problem of going to an earlier batch of comments is recent. I noticed it too. It is very annoying. I will ask Outraged if she can correct it.LikeLike
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Victoria has some excellent information The Lay of the (Homeland) on her blog about her week in Washington to discuss FATCA with law makers and others.
Will anyone who was at the CCLA conference on privacy be posting anything here–especially on Professor Cockfield’s presenation on FATCA?LikeLike
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Thanks, Blaze, for link to Victoria’s latest on her blog.
(PS: This “What’s New” needs to be fixed as some of the others to get to the latest comment when clicking on the comment link.)LikeLike
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German finance minister has criticized the US with unusual critical words:
Schäuble warnt USA vor Weltmacht-Attitüden
http://www.wiwo.de/politik/ausland/washington-schaeuble-warnt-usa-vor-weltmacht-attitueden/9755176.htmlLikeLike
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Thanks Swiss Pinoy. Are you able to give us a synopsis in English?
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Until, here is a google translate. Good for this Finance Minister!
http://translate.google.com/translate?sl=auto&tl=en&js=y&prev=_t&hl=en&ie=UTF-8&u=http%3A%2F%2Fwww.wiwo.de%2Fpolitik%2Fausland%2Fwashington-schaeuble-warnt-usa-vor-weltmacht-attitueden%2F9755176.html&edit-text=LikeLike
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Here is an excellent letter to the editor from someone in Taiwan. It sounds like Taiwan is seeing the same issues we are seeing in Canada, New Zealand, Switzerland, Sweden, France, UK, etc. etc. etc.
http://www.chinapost.com.tw/commentary/letters/2014/05/03/406741/p1/FATCA-to.htm
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US To Unleash IRS on Russia
http://www.king5.com/news/business/257977331.htmlAs the United States attempts to punish Russia for its actions in Ukraine, the Treasury Department is deploying an economic weapon that could prove more costly than sanctions: the Internal Revenue Service.
That economic weapon, of course, is FATCA. They don’t mention that FATCA is also an economic weapon against every country on the planet. It’s just the US is being more honest about it now with Russia.
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From Steven Mopsick. FATCA Delay good for the banks but nothing for Americans Abroad.
The Notice says absolutely nothing about the heavy burden FATCA places on individual taxpayers. It says nothing about whether 85 year old pensioners are at risk for six and seven figure penalties for willful failure to file FBAR’s for past years, or whether Americans abroad will ever get through to anyone at all in Washington on why one size does not fit all when their neighborhood bank is the Royal Bank of Canada, France’s BNP Paribas or the Bank of India.
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Finally, someone who seems to be in the US gets it. This You Tube narration says it all. “Ramifications massive…OMG…Mind blowin’…worst law America ever wrote”
https://www.youtube.com/watch?v=8hTIoSEnk5Q
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Gotta love this tweet from Belgium!
#FATCA HR2847 the Hire ( Lawyers and Tax accountants ?) Act — American Citizens Abroad (ACA) pic.twitter.com/k1RDVT3iQ5LikeLike
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Is FATCA postponed again? This time to January 1, 2016?
http://dollarvigilante.com/blog/2014/5/14/breaking-fatca-news-a-semi-stay-of-execution-for-americans-a.html
Is this true? Or is this just more media BS?
I like the meaning this link gives to the IRS:
The Illegitimate Revenue Agency.
I like the caricature of Uncle Sam in that link.
“There has never been a better time to renounce US citizenship”
The notice from the IRS states:
“Calendar years 2014 and 2015 will be regarded as a transition period for purposes of IRS enforcement and administration of the due diligence, reporting, and withholding provisions…
With respect to this transition period, the IRS will take into account the extent to which a participating or deemed-compliant FFI, direct reporting NFFE, sponsoring entity, sponsored FFI, sponsored direct reporting NFFE, or withholding agent has made good faith efforts to comply with the requirements of the chapter 4 regulations and the temporary coordination regulations.
For example, the IRS will take into account whether a withholding agent has made reasonable efforts during the transition period to modify its account opening practices and procedures to document the chapter 4 status of payees, apply the standards of knowledge provided in chapter 4, and, in the absence of reliable documentation, apply the presumption rules of §1.1471-3(f).”LikeLike
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