Category Archives: offshore accounts

#FEARBar (“Foreign Email Account Report”) update – All indications lead to reporting

The above tweet references a post written four years ago in June of 2013. The post predicted that at some point the United States would require disclosure (in addition to FATCA (Form 8938) and FBAR (FinCen 114) and other forms) of the email accounts used by Americans abroad.


That post concluded with my prediction:

The purpose of FBAR and FATCA is to …

Provide the U.S. with information that is outside of its jurisdiction. In other words, the U.S. has no legal right to the information. Therefore, by threatening “life altering” penalties, the U.S. forces its citizens to provide this information to the U.S. government.

If the contents of bank accounts is important, then the contents of an email account would be even more valuable.

You heard it here first:

The next information return that the U.S. will require is the:

Foreign Email Account Report” – FEARBar for short!

Congress will (like FATCA) unknowingly pass the general legislation (slipped in as part of a Hiring Act) and authorize the IRS to specify the contents of the return. What an Orwellian World!

FEARBar coming to an information return near you!

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Born abroad to US citizen parents in a #CookvTait world? Are you a US citizen or do have a right to US citizenship?

Introduction:

The above tweet references an earlier comment on this vitally important question.

The purpose of this post is to continue hammering away at this very narrow issue/question.

Does the United States have the right to deem a person born outside the United States to be a U.S. citizen? Can the United States forcibly impose citizenship on a person NOT born in the United States?

To be more specific, I understand that the United States has the right to offer U.S. citizenship to anybody who it wants. The question is whether the United States can force a person (who has not accepted U.S. citizenship) to be a U.S. citizen. Given that the United States is “Hunting For Citizens Abroad”, this is an important question. I have written on this topic before here and here.

This is an attempt to explore the question form from the possible perspectives of: Congress, the State Department, U.S. Courts and legal scholars. I then conclude by asking the questions of whether:

– those unknowingly registered as U.S. citizens by parents should have the right to “reject” U.S. citizenship; and

– whether any forcible imposition of U.S. citizenship on the citizens of other countries could be a violation of international law.

Here we go …
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While some Homelanders have a private tax system – USA imposes FATCA and CookvTait on #Americansabroad

A “bed time story”  explaining why FATCA does not matter in the least for those it was supposedly intended to target!

Once upon a time in America – a FATCA fairy tale …

There were some homelanders who didn’t pay their fair share!

Most of the taxes were paid by higher income earning homelanders!


Unless you were a “super wealthy” homelander in which case you could create your own special tax system and pay the lowest taxes of all!

Which created many revenue shortfalls, so Congress passed “Revenue Offsets” and set the IRS to hunt Americans abroad

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The #FATCA Retirement and other assorted #CookvTait short stories …

Have you either considered stopping working because of U.S. policies toward Americans abroad? Have you stopped working? Have you given up attempting to plan for your retirement?

________________________________________________

FATCARetirement

Updated and continued on January 8, 2015 …

Meanwhile back on the Homeland Front …

As the above tweet confirms:

Yes, it’s true! Americans abroad are damaged by FATCA, FBAR and CBT. Who could have known? Of course the “FATCA Retirement” is only one form of damage. What follows is the message forwarded  from ACA and rerouted to me:

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FATCA – FBAR – OVDP: Comparing inside looking out (Homelanders) to outside looking in

https://twitter.com/USCitizenAbroad/status/647391630773751808

This is really worth  a watch. By the way, the prevailing view is that the Homeland does NOT care about how FATCA affects Americans abroad.

 

 

Free Internet Tax Summit: #FATCA, #FBAR, etc. – Sept. 21/15