Archive for October 2013
What’s FATCA? The IRS peeking into Canadians’ bank accounts
Canadian Business (31 Oct 2013)
Liberal MPs Ted Hsu (Oct 25) and Scott Brison (Oct 28) presented “long lists of questions” about FATCA to Parliament.
U.S. expats cry foul over tax system
CNN Money Hong Kong (30 Oct 2013)
Stories of difficulties faced by four extraterritorial US citizens in Korea, India, China, and Australia.
U.S. tax law has some expatriates waiving the American flag
Los Angeles Times (14 Oct 2013)
Genevieve Besser 52, 25-year resident of Germany, former member of Daughters of the American Revolution, seems likely to abandon her US citizenship. The costs and difficulties of tax reporting and compliance couple with inability to live a normal financial life outside of the United States. Daniel Kuettel 41, software developer in Switzerland, has renounced citizenship already. FATCA implementation promises to worsen the situation. In the first half of 2013, the 1809 renunciations surpassed the total for 2012.
Overtaxed and over there
Economist (12 Oct 2013)
Subtitle: Loopy tax rules spur expats to renounce their American citizenship. Difficulties faced by extraterritorial US persons are illustrated by details on persons from Sweden, Germany, and France.