U.S. Citizens in Canada InfoShop

Archive for December 2013

2013 Dec 30 – Jeker

Virginia La Torre Jeker
If you go, you can’t come back: the Reed/Schumer follies — past and proposed anti-expat legislation: interview with Bill Yates, former IRS attorney
Angloinfo (30 Dec 2013)


A senior IRS attorney talks about the history of attempts to exclude persons who renounce US citizenship.

Written by usxcanada

30 December 2013 at 6:00 am

2013 Dec 16 – Jeker

Virginia La Torre Jeker
Learn the real facts: unresolved US tax liabilities, re-entry to USA, renewal or revocation of your US passport
AngloInfo (16 Dec 2013)


A specialist offers useful detailed insight into the increasing interactions between tax enforcement and passport control as applied to US citizens.

Written by usxcanada

16 December 2013 at 7:00 am

2013 Dec 16 – Swanson

Lynne Swanson
U.S. citizenship based taxation: unique or outrageous?
Global Tax News (16 Dec 2013)


This article dramatizes the impacts of real and what-if extraterritorial taxation of a selection of US persons.

Written by usxcanada

16 December 2013 at 6:00 am

2013 Dec 15 – Bennett

Alison Bennett
12 agreements signed to help U.S. fight offshore evasion: taxes
Bloomberg (15 Dec 2013)


Intergovernmental agreements needed for the United States to implement FATCA have been completed with 12 countries (not yet including Canada). Negotiations are underway with more than 70 jurisdictions. The current deadline is 1 July 2014.

Written by usxcanada

15 December 2013 at 7:00 am

2013 Dec 15 – Wood

Robert W. Wood
7 sins with bank accounts? FATCA makes them deadly
Forbes (15 Dec 2013)


The itemized “sins”: failure by US persons to report income or assets to the United States; failure to file FBARs; recognition of possible extreme penalties; disregard of current IRS compliance programs; risks of quiet disclosure; failure to respect backfiling requirements; closing accounts in an attempt to conceal present circumstances.

Written by usxcanada

15 December 2013 at 6:00 am

2013 Dec 13 – Williams

Margot Williams
Americans abroad denounce offshore tax law’s unintended consequences
International Consortium of Investigative Journalists (13 Dec 2013)


This follow-up to the preceding week’s report provides substantial extracts of correspondence received from persons suffering from the simple burden of attempting to comply with US extraterritorial tax requirements.

Written by usxcanada

13 December 2013 at 6:00 am

2013 Dec 8 – Christians

Allison Christians
FATCA Q & A – a work in progress
Tax, Society & Culture (8 Dec 2013)


An academic tax law expert summarizes detail on FATCA and its implementation in a succinct question-and-answer format.

Written by usxcanada

8 December 2013 at 6:00 am

Posted in Academic, Uncategorized

2013 Dec 6 – Williams

Margot Williams
The mystery of the fleeing Americans
International Consortium of Investigative Journalists (6 Dec 2013)

<a href="http://www.icij.org/blog/2013/12/mystery-fleeing-americans"http://www.icij.org/blog/2013/12/mystery-fleeing-americans

Increase in US expatriations is viewed as a journalistic mystery. Tax avoidance, criminal evasion, and compliance burden are listed as three possible explanations. Williams provides a link to her spreadsheet of Federal-Register-listed renunciants since Dec 1994.

Written by usxcanada

6 December 2013 at 6:00 am

2013 Dec 5 – IRS Not

IRS not fully ready for law against offshore tax evasion: watchdog
Reuters / Chicago Tribune (5 Dec 2013)


Despite expenditure of $8.6 million on an inadequate system, IRS remains ill-prepared to implement FATCA provisions.

Written by usxcanada

5 December 2013 at 6:00 am