Forcing #Americansabroad to renounce US citizenship is like #Civilforfeiture – Now “ain’t that America”

Introduction – The general principles of Civil Forfeiture Reexamined   Civil forfeiture is becoming increasingly prevalent in the United States and in Western democracies. In it’s simplest form, Civil Forfeiture is a process where governments seize your property without going through the judicial process. Governments love it. It’s efficient, profitable and risk free.  It’s on […]

Why improving relations with #Americansabroad is difficult for the #IRS and USG

Why there is nothing the IRS can do regain the trust of #Americansabroad too bad – new #RRSP rules are well intended — U.S. Citizen Abroad (@USCitizenAbroad) October 8, 2014 This is a comment on a post at the Isaac Brock Society. @Badger Here is a post that I did in February 2012 titled: […]

U.S. dollar FX Rates give and take – falling Canadian dollar a benefit for #Americansabroad renouncing

Video: The Canadian dollar could tumble to 83 cents next year – good for #Americansabroad renouncing US citizenship — U.S. Citizen Abroad (@USCitizenAbroad) October 6, 2014 Almost two years ago to the day, I wrote a post explaining how: How Fluctuating FX Foreign Exchange Rates Generate Capital Gains on the Sale of Property and […]

The IRS and OVDI: Unintentional manslaughter or intentional murder?

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 […]

No U.S. Tax Compliance, No U.S. Passport = Increased demand for a second passport

Citizenship renunciations are  soaring under the Obama administration. In a move that is sure to accelerate this trend, as part of Tax Amendments to Senate-Passed Highway Trust Fund Bill (S. 1813), the ability to get a U.S. passport is now tied to U.S. tax compliance. The provisions are detailed. But, the bottom line is that […]

Collective psychotherapy – U.S. citizens outside U.S. – Not what they take from you, it’s what they leave you with

The Wisdom of Moe Levine Moe Levine (not that I ever met him) was considered to be one of America’s greatest trial lawyers. Although he died in 1974, his wisdom lives on his book (appropriate called) “Moe Levine on Trial Advocacy“. He (legend has it) was a master at delivering the closing statement in his […]

IRS reopens the Offshore Voluntary Disclosure Program and promises new procedures for U.S. citizens living outside the United States

I can’t believe it. On January 5, 2012 I wrote a post about OVDI called: The Taxpayer, the IRS and the Cross Border professionals – where to go from here. Six hours ago I finished a lengthy post about OVDI called: Taxpayer Advocate vs. The IRS – It’s a question of trust.  I thought I […]

U.S. citizen employees and FBAR requirements

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.

FATCA and FBAR make U.S. born children virtually unadoptable for non-U.S parents

I’ll have to admit I had not thought of this. Although it is clear that FATCA and FBAR have combined to make non-U.S. citizens reluctant to have any kind of financial relationship  with a U.S. citizen,  a new problem has surfaced. In hindsight this is perfectly obvious. A British Columbia adoption agency  is disseminating information […]

Tax compliance for U.S. citizens living outside the United States

The United States of America – A Nation of Forms As it stands, there are a number of normal investments  prohibited to U.S. citizens living abroad. U.S.  citizens living abroad will likely find it much more  difficult to find an accountant or tax prep person to help them  with their taxes. There are at least […]