Archive for the ‘Academic’ Category
FATCA in Canada: constitutional challenge mounting
Tax, Society & Culture (28 Feb 2014)
Law professor Christians identifies Canada’s core FATCA problem as “serious mismatch between the goals targeted and what will be attained by FATCA when law on the books meets law in practice.”
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.
Is the OVDP a good deal? Assessing the OVDP in terms of FBAR willfulness
Social Science Research Network (26 Nov 2013)
This 65-page academic examination of willfulness as applied to FBAR reporting failure concludes that present tendency toward finding FBAR violation willful may render OVDP participation more desirable than that action would appear.
Kevyn Nightingale / David Turchen
The US implications of a tax free savings account
Wealth Management Times no. 77 (Aug 2013)
31 footnotes. “Most of the larger accounting firms are taking the conservative position that a TFSA is not treaty-protected. … The IRS has not pronounced on this question, and the issue has not yet been litigated.” [This article first appeared in the CCH newsletter Tax Topics No. 2146 (April 25, 2013).]
Renouncing your US citizenship: failed amendment may signal that now is the time to get out!
Moodys Gartner (4 July 2013)
14 footnotes. Recent failed legislative attempt to bar “covered” expatriates from entering the United States indicates that “the issue of renouncing one’s US citizenship is again front and center on Congress’s radar and the only guarantee moving forward is that any potential changes will not make things any easier to get out.”
Michael J. Miller / Ellen S. Brody
Expats live in fear of malevolent time machine
International Tax Journal (March 2013?)
This article reviews how US citizenship may be lost; outlines expatriation rules set out in key legislation of 1966, 1996, 2004, and 2008; and explores implications of a 2003 document issued by Joint Committee on Taxation. In view of the absurdities generated by “a poorly drafted statute,” the authors call on the IRS to issue clarifying written guidance. [23 endnotes]
The end of taxation without end: a new tax regime for U.S. expatriates
Virginia Tax Review 32:1 (1 Oct 2012) 1-76
Among other things, this comprehensive article with 392 footnotes will serve as a bibliography to previous literature on the topic. Schneider concludes that the obvious resolution, cessation of extraterritorial taxation of U.S. person, is not “politically viable,” and then moves to propose an exit tax. Review of the existing situation covers (1) history of citizenship-based taxation (2) numbers of persons affected and tax involved (3) types of expatriates (4) current tax treatment of nonresidents (5) increasing compliance cost of being a U.S. taxpayer abroad (6) arguments for and against worldwide taxation of expatriates (7) compliance and enforcement (8) current exit tax regime.