So Where were the Journalist on the May 15th FATCA Public Hearing?

Since I did not see much in the way of in depth reporting on the FATCA public hearings of May 15th, I searched out the written testimony and sat down for a read this weekend.  Thought I would share a few observations, (not an exhaustive analysis) and the provide the entire document for your own reading pleasure, so you can draw your own conclusions. Continue reading

Roger Conklin asks, “Is Romney an accidental Mexican Citizen as reported?”

Since Arrow has been having fun at the Vancouver Sun, with his “What if” scenario of Kenya adopting the U.S. citizenship taxation regime, why stop there?  Roger Conklin suggests that maybe we could get Romney’s campaign attention on a similar issue that may relate to him.   Continue reading

Why is the Quiet Disclosure, (QD) so controversial between Practitioners?

I am admittedly way behind in reading the many recent good posts and comments here at Isaac Brock. I also have had a couple subjects I have wanted to weigh in on, and create new posts, but for the past couple weeks my time has been seriously constrained.  However, this morning a previous post by  caught my attention.  It was entitled Steve Mopsick – On the “coming into compliance dilemma”.  I have been thinking about it all day, and why it is that this QD dilemma is so difficult for so many benign Minnows with the conflicting advice being provided by practitioners. Continue reading

ACA has just issued the April 2012 News Update.

For those of you who are not members of ACA, and not on their email list, I wanted to alert you to the April edition of the ACA News Update for some interesting new information.  The top item on the list is this:

ACA Participates in Meeting with Departments of IRS, Treasury,Financial Crimes Enforcement Agency (FINCen) and the Office for Terrorist Financing and Financial Crimes (TFFC) Continue reading

US taxman’s long Arm Threatens Costly Kiwi Headaches

This isn’t much, but it is the first popular media story on FATCA that I have seen in NZ. Unfortunately there doesn’t seem to be any opportunity for Kiwis to provide comment feedback. I have sent an email to the Editor to see if contact with the journalist is possible, and see if additional news reporting is in the offing. They have barely cracked a window open on the story, but as I found out when I did a search for FATCA on the Seattle Times today, there was nothing there either!  So maybe I shouldn’t be so hard on my Kiwi friends. They now know more than Seattlites do!  Thanks to Moby for drawing my attention to it.

Is it really Wealthy Americans who are Queuing to Give Up Passports in the Swiss Capital?

Maybe.  That is what the Bloomberg Business Week Headline says. Since this is a story about Switzerland, it is a good attention catching headline which plays upon a bias that all Americans living in Switzerland must  be wealthy.  Or,  I would bet, it is an editor choosing a title to catch attention.  That is what they do!  I thought I would post it, in case some of you have not yet seen the story. I also wanted to point out that Andy Sundberg has been prominently mentioned at the beginning of the article. Continue reading

Obama Responds to OVDI Concerns, or NOT!

I have been in contact with a victim of the current IRS OVDI who is living in Europe. I have been asked to share some details of this person’s situation plus a copy of a recent letter that has been received from President Obama. This was written in response to a letter sent to the White House petitioning for redress of the current IRS OVDI program for minnows.

As a preface to that letter, what follows is an Executive Summary of the situation I am writing about. I have been asked to share this, while maintaining anoymity which I am respecting.

Continue reading

IRS OVDI: Holding the IRS to Proper Payment Application

To those reading here who are in the OVDI, I draw your attention to this Jack Townsend guest post by Asher Rubinstein, Esq.

It has been said that the 2011 Offshore Voluntary Disclosure Initiative (OVDI) corrected many of the hiccups of the 2009 Offshore Voluntary Disclosure Program (OVDP)…… However, as more OVDI cases now head toward resolution, it appears that the IRS is again wavering in certain policy decisions, again to the detriment of taxpayers.

Why am I not surprised by this?