Tag Archive for FATCA

Part 2: Why Justice Martineau’s Decision Has Handed @ADCSovereignty The Framework For Ultimate Victory – The Importance of “Staying The Course”

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Introduction – what this post is about …

I attended the hearing in Vancouver, B.C. on August 4, 5 2015. At that time I wrote a group of posts (here and here) discussing my perception of the hearing. Those posts included expressions of my opinion that Justice Martineau was highly engaged, was working hard on understanding the issues, and was affording all parties a fair hearing. Although, disappointed with his decision (handed down on September 16, 2015), and not agreeing with his conclusions, I reaffirm my sentiments in the previous posts.

This post is more about the “system” than it is about Justice Martineau specifically. In a judicial system, it is possible for “reasonable people” to have “reasonable Read more

Part 1: Justice Martineau Provides @ADCSovereignty The Only Thing Worse Than A Root Canal

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This post is Part 1 of my thoughts on Justice Martineau’s decision.

I  left my root canal appointment this afternoon to a message announcing that Justice Martineau had rendered his decision. We did not win round 1. Notice that I did NOT say that the Government won round 1.

Here is the decision:

T-1736-14 decision sept-16-2015

Before, I comment specifically on the decision, I want to be clear on the following points: Read more


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You Are Invited To Be Part of Internet History…
Join TaxConnections as we present incredible Tax Experts on Expatriate Day at the Internet Tax Summit on Monday, September 21, 2015 beginning at 7:30AM (PDT).


Listen to stories from Expatriates around the world and learn from these Tax Experts about what to do to stay compliant with U.S. Tax Laws. Learn about FBAR, FATCA, Amnesty or Quiet “Voluntary Disclosure” of Foreign Bank Accounts, Exit Taxes and so much more. Read more

How To Live Outside The United States In An FBAR And FATCA World

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When in Rome, live as a Homelander” does, when elsewhere, live as they live elsewhere.

Americans abroad are constantly told that they should “come clean”. They should file their U.S. taxes. This assumes that they are somehow “unclean” or perhaps “dirty”. The life of an “American abroad” is about three things:

1. “Thinking Clean” – The importance of “thinking clean” while living abroad. Read more

Impossible And Expensive To Be A US Tax Compliant Citizen Abroad

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Exit Tax Operates To Confiscate Assets Of Those Who Moved From The U.S. Years Ago; And On Assets Acquired After Leaving The U.S. (Including Non-U.S. Pensions)


Introducing Tax Expert and TaxConnections Internet Tax Summit Presenter: John Richardson, Citizenship Solutions, Toronto, Canada

Are you a “Covered Expatriate”?  Learn about this term and so much more regarding FATCA, FBAR and Exit Taxes from John Richardson on September 21st.  See his short introductory video below and get your free VIP Ticket to the Internet Tax Summit. Read more

Foreign Earned Income Exclusion – Timing is Everything!

Pallav Acharya

Not many U.S. expatriates realize that the foreign earned income exclusion is an election and is not automatic. In a recent tax court Nancy McDonald learnt this in a painful way when her exclusion was denied. Nancy McDonald V. Commissioner TC Memo 2015-169.

IRC Section 911(a) provides that a qualified individual may elect to exclude from gross income the foreign earned income of such individual. To qualify for the foreign earned income exclusion (FEIE), the taxpayer must satisfy a three-part test:

1. Taxpayer must be a U.S. citizen who is a bona fide resident of a foreign country for an entire taxable year or physically present in a foreign country during at least 330 days out of a 12-month period, sec. 911(d)(1); Read more

The Problem of #Americansabroad And Ownership of Non-U.S. Real Estate

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Prologue:  Tweet by Citizenship Lawyer – @expatriationLaw – Video:  Carrick Talks Money: The tax issues facing Americans who sell Canadian homes – No tax free capital gain

If (U.S. Person) then (Mr. #FBAR Ms. #PFIC and Uncle #FATCA) = Few investment and financial planning opportunities).

Yes, it’s true. There are only three things that Americans abroad can “invest in” that do not Read more

BEPS And Planet Mars

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NASA recently announced that your name can be put on the planet Mars. This is incredibly great news for the people with good fortunes who are thrilled by the opportunity to gain their foothold in the universe and enhance their fame. However, in another space mission, scientists are attempting to find out if any life exists in other planets.

Think about it. If they indeed were able to find the life on Mars and if the inhabitants there happen to be much more advanced than the humans on earth, they are likely to have a tax law that can tax such inbound activities. Beware and think before you make that tempting decision.

Putting your name on a planet may have its other side. If “cross planet” law applies and Read more

‘I Wish I May Never Hear Of The United States Again!’

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In a classic example of “be careful what you wish for,” the fictional Lt. Philip Nolan uttered these famous words during his treason trial as Aaron Burr’s accomplice, in Edward Everett Hale’s 1863 propaganda short story – “The Man Without A Country” (See Video Clip Below). As the narrative progresses, and Lt. Nolan is quite literally adrift on an ocean of uncertainty, he comes to realize the full implications of his bravado. While aboard the USS Levant, he dies alone in a tiny shrine dedicated to his faded memories of the United States.

Whether he knew it or not, Lt. Nolan fit the dictionary definition of “diaspora,” which is a people who have been scattered to multiple countries, but share a common longing for their homeland and an overwhelming urge to return. Jewish people are a classic Read more

Passionate Tax Experts Introduced To Business Leaders And Taxpayers – Through TaxConnections

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“Passion is absolutely necessary to achieve any kind of long-lasting success.” In a minute, I will share with you who that quote belongs to but for this moment  remember that passionate people have very strong beliefs. As I was arranging speakers for the Internet Tax Summit, the passion these tax experts have in protecting taxpayers and businesses was prevalent. You know when you encounter people in life with purpose and passion for what they do; you know they get things done.  You can expect to encounter tax professionals who get things done at TaxConnections Internet Tax Summit. You are  invited to meet and interact with Tax Experts in this historical event where individual taxpayers and business leaders meet tax experts during an online event. It is free so all you need to do is register and we will send you a link to access the Internet Tax Summit. Read more

Fighting FATCA “Tyranny”

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Fighting FATCA “Tyranny” in U.S. Court

Born and raised in Communist China, naturalized American citizen Solomon Yue says he understands why people leave a country because of tyranny.

That’s exactly why Yue “can’t watch people abandoning (U.S.) citizenship because of FATCA tyranny.”

So, the Vice Chairman and CEO of Republicans Overseas Action spearheaded a constitutional challenge to Foreign Account Tax Compliance Act (FATCA), Intergovernmental Agreements (IGAs) and Foreign Bank Account Reports (FBARs). Read more

The Choice: Amnesty Or Quiet Disclosure For Foreign Bank Accounts: Criminal Tax Evasion, Negligence, Or Ignorance?

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Preliminary Introduction For TaxConnections Global Internet Tax Summit, September 21-25, 2015

The most recent IRS push to close “the Gap” between collected U.S. tax revenue and the total tax revenue which should be reported by U.S. citizens and alien residents of the United States has focused on offshore income concealed in foreign or offshore accounts.

U.S. citizens are liable for U.S. taxation on all income realized globally, regardless of the foreign jurisdiction in which their funds are deposited in foreign accounts.  U.S. citizens are not only liable for U.S. tax on such foreign sources of income, they are required to report all funds in excess of $10,000.00 on deposit in foreign accounts over which they have “signature authority” even if they only have a nominal “financial interest” in the Read more