Category Archives: FATCASpeak

@Mopsicktaxlaw talks The #FATCA of the matter, but note “Final FATCA Fact”

As always, interesting commentary from Mr. Mopsick of Mopsick tax law.

Note his concluding paragraph:

FINAL FATCA FACT: With Americans abroad facing signs that read “NO AMERICAN CUSTOMERS PLEASE!” on an increasing basis, practitioners who care about this issue will continue to fight for tax justice for Americans abroad on whatever front is necessary and available. Sadly, we are seeing nothing whatsoever from the IRS that they “get it” and plan to issue even the simplest directives which show that they have no intention of surrounding Canadian nursing homes with armed special agents or more importantly that the Streamlined Program will be expanded so that it actually applies to someone, or that front line OVDP troops are permitted to actually exercise some discretion in excluding certain assets from the confiscatory FBAR penalty base.

What is clear is that FATCA has already spawned multiple years of litigation between innocent taxpayers and the IRS which will start to reach the courts in a year or two.  It is not easy to pick a fight with the federal government, but given the seemingly chaotic roll of events during the last four years since FATCA was enacted, those of us who are ready to roll up our sleeves are all saying “bring it on!”

I am sure that all Americans abroad would agree with Mr. Mopsick on this. Thanks to Mr. Mopsick for taking a clear position on this!


@PMHarper: If you won’t stand up for Canada, give other MPs a chance to vote against #FATCA

Dear Prime Minister Harper:

The above tweet references a speech made by Stephen Harper before he himself had to make the difficult decisions. The time was June 1997 when he was Vice-President of the National Citizens Coalition. The place was Montreal and the audience was a group of Americans – specifically the “U.S. Council for National Policy”

Stephen Harper by his words in 1997 :


Ladies and gentlemen, let me begin by giving you a big welcome to Canada. Let’s start up with a compliment. You’re here from the second greatest nation on earth. But seriously, your country, and particularly your conservative movement, is a light and an inspiration to people in this country and across the world.

Now, having given you a compliment, let me also give you an insult. I was asked to speak about Canadian politics. It may not be true, but it’s legendary that if you’re like all Americans, you know almost nothing except for your own country. Which makes you probably knowledgeable about one more country than most Canadians.

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“To be clear” (as he would say): @BarackObama is responsible for #Americansabroad renouncing

To be clear: A video is worth a thousand words! More videos are worth more than a thousand words.

I have taken a “comment exchange” between an Obama supporter and @Just Me and turned it into a post. Just Me lays out the chronology of Obama, the Democrats and FATCA.

Comment from Obama supporter:

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It’s FATCASpeak really, “Double Plus Good Thought” #FATCA Comrades

We hold these truths to be self-evident, that all men are created equal, that they are endowed by their creator with certain inalienable rights, that among these are life, liberty, and the pursuit of happiness. That to secure these rights, Governments are instituted among men, deriving their powers from the consent of the governed. That whenever any form of Government becomes destructive of those ends, it is the right of the People to alter or abolish it, and to institute new Government…

It would have been quite impossible to render this into FATCASpeak while keeping to the sense of the original. The nearest one could come to doing so would be to swallow the whole passage up in the single word crimethink. A full translation could only be an ideological translation, whereby Jefferson’s words would be changed into a panegyric on absolute government.

A good deal of the literature of the past was, indeed, already being transformed in this way. Considerations of prestige made it desirable to preserve the memory of certain historical figures, while at the same time bringing their achievements into line with the philosophy of Amtot. Various writers, such as EricOrwellJust MeEmBadgerCalgaryPlatoPetrosDeckardJoe SmithSwissPinoyJefferson TomasBlazeOutraged CanadianRogerNobledreamerTim, VictoriaBubblebustinRecalcitrant,  MarkpinetreePacifica777, usxcanada, RenounceUScitizenship and some others were therefore in process of translation: when the task had been completed, their original writings, with all else that survived of the literature of the past, would be destroyed.

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A German Bank explains #FATCA to its customers who are #Americansabroad – It’s #FATCASpeak really

FATCA – “The New Tax Law For Americans Abroad” is an interesting video.

The title: FATCA: “The New Law FOR U.S. Citizens Abroad” almost makes it seem like a benefit/gift for U.S. citizens abroad.

Put it this way:

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