Archive for February 2013
2013 Feb 22 – Collins
Margaret Collins
Cost of dropping citizenship keeps U.S. earners from exit
Bloomberg (22 Feb 2013)
A Miami-based tax attorney reports “about a dozen calls … about exiting the U.S. or moving assets abroad” so far in 2013, a record high volume. “Exit taxes and other costs make it prohibitive for most high-income taxpayers and small-business owners to leave the U.S.”
2013 Feb 21 – Hill
Kashmir Hill
The privacy price to cross the border
Forbes (21 Feb 2013)
http://www.forbes.com/sites/kashmirhill/2013/02/21/the-privacy-price-to-cross-the-border/
In late January 2013 Canadian actor Chad Rook was detained at the U.S.-Canada border for nine hours. Data on his smartphone and iPad was examined. Rook plans to fight his five-year ban on entering the United States. Privacy rights in a border crossing are limited.
2013 Feb 14 – Temple-West
Patrick Temple-West
Switzerland, U.S. sign pact on fighting tax evasion
Reuters U.S. (14 Feb 2013)
http://www.reuters.com/article/2013/02/14/usa-tax-fatca-idUSL1N0BE55820130214
For residents of Canada, the interest of this article lies in the sidelight on negotiation status: “The Treasury is working with more than 50 countries to complete deals, but negotiations have not progressed with key U.S. trading partners Canada and China.”
2013 Feb 9 – Eric
Eric
FBI statistics say three thousand renounced U.S. citizenship in September and October 2012
Isaac Brock Society (9 Feb 2013)
From a key web site, a posting that deserves special mention. Statistics on renunciation of US citizenship are notoriously muddled and spun. This painstaking research opens a window onto disgraceful reporting discrepancy on the part of the United States government.
2013 Feb 4 – Temple-West
Patrick Temple-West
Exclusive: Foreigners’ accounts in U.S. banks eyed in tax crackdown
Reuters U.S. (4 Feb 2013)
http://www.reuters.com/article/2013/02/04/us-usa-tax-fatca-idUSBRE91312W20130204
FATCA implementation has seen “only four bilateral pacts … fully completed, with the United Kingdom, Denmark, Ireland and Mexico.” France, Germany, and China are still unaccounted for. Reciprocal reporting out by the United States is an issue.
2013 Feb 1 – McElroy
Wendy McElroy
2014: Too late to leave the U.S.?
WendyMcElroy.com (1 Feb 2013)
http://www.wendymcelroy.com/plugins/content/content.php?content.296
Five reasons that the EX-PATRIOT Act to tax and bar renouncers of U.S. citizenship seems likely to pass into law in 2013.