Archive for the ‘Individuals’ Category
How to get rid of your U.S. citizenship
Global News (4 Apr 2014)
A lengthy account of FATCA, bank reporting on US persons, and terminating US citizenship concludes with four personal Canadian stories.
Americans abroad find citizenship too taxing to keep
USA Today (8 Mar 2014)
Two extraterritorial US persons in Switzerland tell their stories. One has already renounced, and the other is considering that action. US citizenship renunciation totaled 3000 in 2013, a 221% rise from the preceding year. Two tax professionals describe the difficulties and costs of filing. “A poll conducted by the de Vere Group, a financial consultancy, late last year revealed that 68% of American expatriates have considered giving up their U.S. citizenship as a result of FATCA.”
Canadian warns U.S. citizens abroad of new tax collector
Toronto Observer (24 Feb 2014)
Comment from Peter Dunn features prominently in this story on FATCA.
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.
A global social network of outrage and action
Franco-American Flophouse [blog] (13 Sept 2013)
What may be the first-ever public protest against FATCA occasions a useful review of the social networking facilitated by the Isaac Brock Society web site since its inception in December 2011.
U.S. expatriates flee taxman’s reach
Japan Times (20 Aug 2013)
Gulf War veteran Scott Schmith renounced US citizenship after twenty years of residence in Switzerland. Four named academics and professionals comment on the increasing rate of renunciation.
Patrick Cain / Anna Mehler Paperny / Leslie Young
Why are so many American expats giving up citizenship? It’s a taxing issue
Global News (15 Aug 2013)
Ruth Freeborn in Kingston, Ontario is preparing to renounce US citizenship. Comment from Toronto CPA Kevyn Nightingale and McGill tax professor Allison Christians. Calgary tax lawyer Roy Berg says his firm has “as many as 50 U.S. citizenship renunciation files on the go.” Two graphs: FBI vs State Department totals for citizenship renunciation 2006-2013; Quarterly totals of published names of people renouncing U.S. citizenship 2003-2013.