U.S. Citizens in Canada InfoShop

Archive for the ‘Journalism’ Category

2014 Jan 10 – Cain

Patrick Cain
More than 3,100 Americans renounced citizenship last year: FBI
Global News (10 Jan 2014)


FBI figures for 2013 renunciations leads into further reporting on the phenomenon of increased renunciation of US citizenship.

Written by usxcanada

10 January 2014 at 6:00 am

2014 Jan 1 – Wood

Robert W. Wood
Americans are unwanted worldwide (at least by banks)
Forbes (1 Jan 2014)


FATCA, FBAR, and OVDI make banking and life abroad difficult for US persons. “The U.S. has data from 40,000 voluntary disclosures, whistleblowers, banks under investigation and cooperative witnesses.”

Written by usxcanada

1 January 2014 at 6:00 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 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