tag:blogger.com,1999:blog-2424131704277823220.post3227899017463577320..comments2023-09-23T11:16:00.352+02:00Comments on The Franco-American Flophouse has moved: The Empire Speaks, The Myth Replies: The Communication GapVictoria FERAUGEhttp://www.blogger.com/profile/16319699673885400472noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-2424131704277823220.post-34045449380059943942013-10-02T09:01:02.014+02:002013-10-02T09:01:02.014+02:00@Tim, I'm looking into it because I don't...@Tim, I'm looking into it because I don't get it either. What is stopping them from communicating more widely about this? I'll post about what I find out. Some clue to how the IRS views this can be found in their 2014 budget proposal. http://www.treasury.gov/irsob/reports/2013/IRSOB~FY14%20IRS%20Budget%20Report~052413.pdf<br /><br />If you and Marvin could read this and let me know what YOU think, I'd really appreciate it.<br /><br />@Janet and Greg, Thank you both for your notes. Some email exchanges from folks in Mexico reveals exactly the same situation. Vast majority of Americans abroad simply don't know about this even today. And when they find out and go looking for information, they get even more confused. It's a MESS!<br /><br />I think waiting around for IRS or State to have a worldwide information campaign is futile. I think what we need to do is start our own. I'm deadly serious about this. I think we need a FATCA/citizenship-based taxation fact sheet that can be sent to every blog and to every local paper.<br /><br />Folks at the Isaac Brock Society have already come up with a FATCA fact sheet that they will be using at their demonstration in Toronto in October 16. <br /><br />And that really, Greg, is the one place right now where there is action to go along with the words. Not everyone likes their take on things but they are the only site that seems to have the capacity to empower people and organize them. They just passed 4 MILLION hits. If you want to get involved that's a good place to go.<br /><br />One thing we could do is to spread around the existing FATCA fact sheet which is here:<br /><br />http://isaacbrocksociety.ca/what-is-fatca-draft/<br /><br />Right now I'm translating the above in French and am working on another fact sheet with a person in the UK which is about how FATCA/CBT impacts immigrants.<br /><br />Between the two, we would probably come up with a Fact Sheet that explains the situation in clear language: a combination of facts about FATCA/CBT with all the relevant links. Target audience would be Americans abroad. <br /><br />If anyone wants to work on that with me, just send me a note (v_ferauge@yahoo.com). We could take it to Brock or do it via email. <br /><br />Once we have that I would push it to every blog, every forum where US expats hang out, and to the local media. <br /><br />We could call it:<br />"What Every American Expat Needs to Know about the U.S. FATCA and Citizenship-based Taxation."<br /><br />Victoria FERAUGEhttps://www.blogger.com/profile/16319699673885400472noreply@blogger.comtag:blogger.com,1999:blog-2424131704277823220.post-30184222666216169372013-10-01T16:24:11.451+02:002013-10-01T16:24:11.451+02:00This article is spot on, and exactly what I see wi...This article is spot on, and exactly what I see with expats in Thailand. When I talk with expats, many who have lived overseas for decades, about their IRS tax filing obligation and FATCA, they have no idea what I am talking about. Many think I am just exaggerating about their obligations to the IRS, and think by living their life in some remote Thai town in the hills it will allow them to just ignore this. Someday, however, they may want to travel back to their homeland and will find a major problem from their non-compliance. Or maybe their Thai bank will ask them to close their accounts. <br />And for sure <b>new expats</b> here have never heard of FATCA. It is not something the US news bothers with very much, except perhaps as a cursory notice how the Uncle Sam is going after tax cheats living overseas.<br />Resistance to FATCA and even resistance to citizenship based taxation needs to be organized --- both within and outside of US borders. We need more attention given to this issue in the establishment media in the US and we need to develop FATCA Resistance people in Congress. Your efforts, Victoria, have been in the a very good start. Thank you.Greghttp://americanexpatchiangmai.comnoreply@blogger.comtag:blogger.com,1999:blog-2424131704277823220.post-21661191543413330122013-10-01T07:20:29.280+02:002013-10-01T07:20:29.280+02:00I just have to say, that we have plenty of evidenc...I just have to say, that we have plenty of evidence that Compliance is NOT the goal. Revenue collection via FBAR and FATCA penalties is. It is a fund raiser for them. Hate to be so cynical, but whether by conscious design or misguided application they are like the State Troopers in that quintessential Southern State country town. They don't want you to comply with their speed limit, they want to ticket you! Just Menoreply@blogger.comtag:blogger.com,1999:blog-2424131704277823220.post-37186681171243752942013-09-30T18:11:39.470+02:002013-09-30T18:11:39.470+02:00Fact not myth: The Treasury Department assumes eve...Fact not myth: The Treasury Department assumes every "US person" knows that the US tax system is a citizenship-based tax system and that every "US person" is aware of FBAR and FATCA. The consequence of this assumption is that any "US person" who does not file a US tax return and FBAR and FATCA forms when necessary is a tax evader because they are "willfully" not filing. Willful non-filing justifies the leveling of fines by the IRS.<br /><br />In the past year, I have spoken to many,many Americans who live abroad. The vast majority of these Americans have no inkling that the US tax system is a CBT system and have never heard of FBAR or FATCA. A few weren't even aware that they are Americans.<br /><br />If compliance is the goal, it is essential that the IRS launch a <br />worldwide information campaign and provide a penalty free path to compliance. Currently it seems the real goal is to collect as much money as possible by leveling<br />draconian fines.<br />Janetnoreply@blogger.comtag:blogger.com,1999:blog-2424131704277823220.post-43341253686854012362013-09-30T18:08:32.484+02:002013-09-30T18:08:32.484+02:00Fact not myth: The Treasury Department assumes eve...Fact not myth: The Treasury Department assumes every "US person" knows that the US tax system is a citizenship-based tax system and that every "US person" is aware of FBAR and FATCA. The consequence of this assumption is that any "US person" who does not file a US tax return and FBAR and FATCA forms when necessary is a tax evader because they are "willfully" not filing. Willful non-filing justifies the leveling of fines by the IRS.<br /><br />In the past year, I have spoken to many,many Americans who live abroad. The vast majority of these Americans have no inkling that the US tax system is a CBT system and have never heard of FBAR or FATCA. A few weren't even aware that they are Americans.<br /><br />If compliance is the goal, it is essential that the IRS launch a <br />worldwide information campaign and provide a penalty free path to compliance. Currently it seems the real goal is to collect as much money as possible by leveling<br />draconian fines.<br />Janetnoreply@blogger.comtag:blogger.com,1999:blog-2424131704277823220.post-62206621821578916302013-09-30T16:27:21.796+02:002013-09-30T16:27:21.796+02:00Victoria,
You are quite correct in the fact there...Victoria,<br /><br />You are quite correct in the fact there is no desire on the part of anyone in the US government for any type of education or outreach. In terms of why that is your guess is as good as mine. I do think the most recent Richard Harvey article is probably as good of an insight into the current thinking in the IRS on this issue as any.<br /><br /><br />Timhttps://www.blogger.com/profile/03894651289037073128noreply@blogger.comtag:blogger.com,1999:blog-2424131704277823220.post-23644567178391159652013-09-30T14:55:21.751+02:002013-09-30T14:55:21.751+02:00And to add to your fine post Victoria;
The educati...And to add to your fine post Victoria;<br />The education of those actually living in the US, and those who immigrated there is still sorely lacking. The US does nothing to proactively prevent new immigrants from falling into the FBAR and FATCA trap through ignorance about how this particular unique characteristic of US tax laws work - as applies to the assets they held in their home country before they got to the US, and of which many CANNOT be dissolved prematurely (ex. retirement and pension accounts, insurance, etc.).<br /><br />I saw this today on a British Expat site, and it was the same story we are so familiar with - even US residents do not know or understand FBAR and FATCA and 'foreign trusts' etc.<br /><br />..."What on earth do I do regarding this facta/fbar. I am very scared and actually was sick tonight reading about it.<br /><br />My husband is a US citizen and we've never heard of this before now..."<br /><br />Much as those of us outside the US have suffered over this, those inside the US, new immigrants, and even just ordinary US residents, don't have a clue either. The IRS and Treasury have not done a good job to educate homelanders, would be homelanders, or those abroad. Basically they would rather characterize their threats and enforcement as 'education' - by beating us bloody after the fact.<br /><br />Again I question whether they actually really want 'compliance'? Because all signs point to them wanting only punitive and penalizable enforcement after the fact instead.<br /><br />My US resident family had never heard of any of this either.<br /><br />badger<br />Anonymousnoreply@blogger.com