A moment ago I posted about the effect of OVDI on U.S. expats. This post will highlight the effect of OVDI on U.S. immigrants. My heart goes out to this person. He thought by immigrating to the U.S. he was coming to the home of the free. He thought he was coming to “that great […]
Cross posted at the Isaac Brock Society https://twitter.com/#!/renounceus/status/200946182908948480 The OVDI Winners and Losers The Winners: OVDI and OVDP have been fantastic deals for: big time tax cheats resident in the United States and the “cross border professionals” who have will continue to profit from them for years to come. The big time tax cheats have […]
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 […]
Now that the September 9, 2011 deadline has passed people actually have the chance to think. It is understood that OVDI was primarily aimed at U.S. taxpayers who were using offshore bank accounts to hide money – and evade U.S. income tax. Even the name “Offshore Voluntary Disclosure Initiative” is telling. Two points:
A new post from Mopsick Tax Law offers interesting insights into the “FATCA Safe Harbour” rules the IRS has offered FFIs during the first two years of FATCA. The post (if I am reading it correctly) strongly suggests that the purpose of the delay is to assist the “foreign banks” (you know, the Bank of Nova […]
Making Choice to Halt at Door of US Citizenship http://t.co/rdiolrkfqu – It's the identity stupid! But, mostly same tax rules apply. — U.S. Citizen Abroad (@USCitizenAbroad) August 26, 2013 The above tweet references an article published on August 25, 2013 at the New York Times. The article is popular and as of now has generated […]
The Renounce U.S. Citizenship blog was started in late October of 2011. This is the archive page. If you scroll down you can see a list of the posts. My original purpose was to write a book documenting the attack by the U.S. government on its citizens abroad – an attack without precedent in the […]
Green card holders, U.S. citizenship and adventures in #FBAR http://t.co/DB58514o — U.S. Citizen Abroad (@USCitizenAbroad) January 29, 2013 Amy Feldman has written a second article: “The Perils of Overseas Tax Disclosure: An Immigrant’s Story” It features more adventures in FBAR. It also raises the issue of the (possible) relationship between FBAR compliance and becoming a […]
Introduction – Introducing FATCA – “I’d like to build the world a home, And furnish it with love” Historians picking over remains of US will identify enforcing #FATCA as big reason for decline of the empire http://t.co/2Mdi4lAD — U.S. Citizen Abroad (@USCitizenAbroad) November 21, 2012 FATCA and Citizenship Based Taxation “I’d like to teach the […]
Is the U.S. a leader in international justice? There was a time … @hrw US undermines justice just by keeping #americansabroad locked in prison of #FATCA and citizenship-based taxation http://t.co/GQnKpPrX — U.S. Citizen Abroad (@USCitizenAbroad) September 4, 2012 “An American President always, always, always stands up for the freedom and justice of all people.” – […]
U.S. Persons Abroad - Members of a Unique Tax, Form and Penalty Club 