FATCA: The 2010 'tax evasion law' that's 'now an extra-territorial money-sucking machine'

Over the last few weeks and months, more media attention than usual has been paid to the 2010 Obama law known as the Foreign Account Tax Compliance Act (FATCA). And invariably, we have been noticing, journalists from respected media organizations like The Guardian and Financial Times newspapers in London keep referring to it as a “tax evasion law,” no doubt because that was its original purpose.

That may well have been true in 2010, says Toronto-based expat lawyer and expat rights campaigner John Richardson...

‘Tax Fairness for Americans Abroad’ discussion set for May 8 in Athens

Republicans Overseas vice chairman and chief executive Solomon Yue and Toronto-based lawyer and citizenship expert John Richardson will bring their ‘Tax Fairness for Americans Abroad’ roadshow to Athens next week, as part of ongoing efforts aimed at boosting awareness and support among American expats in Greece for proposed legislation bearing that name.

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Some tax quotations the IRS missed...

The IRS's collection of 15 tax quotations, wonderful as it is – as we noted yesterday – does miss a few classics that rank highly in our own collection.

There's Benjamin Franklin’s quote, for one thing, which is probably among the world's best-known tax quotations of all: “In this world nothing can be said to be certain, except death and taxes.” 

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Long-awaited Canada FATCA trial kicks off on Monday, with 'live webcast'

A trial in which a group of Canadian/American citizens are seeking to challenge the constitutionality of the Canadian government's enforcement of America’s FATCA legislation is set to begin on Monday in a federal courthouse in Vancouver, British Columbia, and will be broadcast live via a "webcast", according to sources involved in the lawsuit.

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Frustration across Expatland as ‘final Transition Tax’ regs published

American owners of small businesses who are resident outside of the U.S. are reacting with frustration, and in some cases dismay, to the news that the U.S. government has published its final draft of the so-called Transition Tax element of Donald Trump’s Tax Cuts and Jobs Act without taking into account concerns about what the legislation would do to them.

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Expat tax experts Richardson, La Torre Jeker go looking for ‘Mr FBAR’

Looking for Mr Goodbar was a 1975 book, made into a film two years later, about a New York City schoolteacher who ended up being murdered by a young man she’d just met. 

“Mr FBAR,” on the other hand – and of rather more relevance here – is an Expatland nickname for a document that U.S. expats around the world have been required to file annually with the IRS since 1970, if their total offshore bank and financial account holdings total US$10,000 or more at any time during the tax year.

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A reader asks about ‘navigating the shoals between U.S. and French citizenship’; Greenback Tax’s David McKeegan replies

A reader asks about ‘navigating the shoals between U.S. and French citizenship’; Greenback Tax’s David McKeegan replies

A reader asks: ‘How do I navigate the shoals of being between U.S. and French citizenship, without having to put all my assets into cash and sticking them under my...