FBAR experts: SCOTUS Bittner decision could see shift towards more ‘willful’ charges, greater 'rule of lenity' awareness

(...or possibly not...)

Regular watchers of the way U.S. officials have been prosecuting American taxpayers whom they deemed to have committed "non-willful" breaches of the government's so-called FBAR regulations didn't have to be asked twice for their thoughts on Tuesday's landmark U.S. Supreme Court decision that – at long last – finally established how penalties for such breaches are to be determined. 

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AXFNJ Podcast: Dubai private asset manager for U.S. expats Vince Truong explains why everyone needs ‘a financial roadmap in place’

Hearing Americans who've been living abroad for 10 or more years, and sometimes for most of their adult lives, describe how they got there is always interesting, I find. Many people's stories, of course, tend to be variations on a couple of predictable themes (work reasons, falling in love with someone from the country in question, etc.).

Vince Truong, however, says he was drawn to Dubai by an article he read...

Canadian court rules against 'Gwen and Kazia' challenge of FATCA information-sharing law's constitutionality

An appeals court in Ottawa has affirmed the constitutionality of the way the Canadian government allows Canadian financial institutions to share the information of their U.S. account-holders with the authorities in the U.S., ending the latest round of a years-long battle by two U.S. born Canadian women who are known informally to their supporters as "Gwen and Kazia." 

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John Richardson: 'The CRS ≠ FATCA'

When the U.S. Foreign Account Tax Compliance Act finally came into force around the world in 2014 –  four years after it was signed into law by President Obama – the Organisation for Economic Co-operation and Development was preparing its own account information reporting regulations package.

The Common Reporting Standard, as it was to be known as, differed from FATCA in that it was intended to be global, and fully reciprocal – meaning that those countries participating in the collecting and forwarding of information about other countries' resident taxpayer's financial accounts would expect to receive the same data about their taxpayers resident in that country... 

IRS quietly removes its tax quotations collection from website

For years, ordinary taxpayers as well as seasoned tax professionals (and even, we can reliably say, certain financial journalists) who've been seeking answers to tax queries on the IRS's website have stumbled across a surprising – and for most, we think – endearing feature: a collection of some 15 tax quotations.

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Ross McGill: ‘FATCA isn’t the problem: CBT is’ 

Ross McGill: ‘FATCA isn’t the problem: CBT is’ 

In the early years of this century, a number of major media exposés reported how Homeland Americans, as well as rich people from other developed and developing countries, were making...