Tag Archives: Wary Swiss Banks Shun Yanks

Homelanders and #Americansabroad debate the status of US citizens abroad in a FATCA world

Wary Swiss Banks Shun Yanks

is an article that appeared in the Wall Street Journal on October 19, 2012. The article was reported at the Isaac Brock Society. The article is fairly good. But, what is really interesting are comments. The comments reveal that “Homelanders” and US citizens abroad life in “different worlds”. If you have the time, I suggest reading all the comments. But, since you don’t I have tweeted some of the more interesting ones.

To me, the comments confirm that one can understand the problems of life as a US citizen abroad if you have actually lived the life of one. I find the comments very discouraging. It seems to me that there are now two kinds of US citizens abroad:

1. Those who are not tax compliant and will keep their heads buried in the sand. This group is just hiding.

2. Those who are tax compliant and cannot live with the expense and time that continued US tax compliance requires. This group is renouncing their citizenship.

Either way, unless you live in the Homeland, US citizenship is a difficult cross to bear. Continue reading