Washington has imposed “extraordinary burdens” on U.S. citizens abroad, says James Bopp Jr., an attorney at The Bopp Law Firm representing plaintiffs in a case against the U.S. government with regards to FATCA.
Watch video at CNBC.
‘According to a recent petition, the Israeli government has taken the wrong side in a world war that the US is waging over taxes of its overseas dual citizens.’
Continue reading at the Jerusalem Post.
‘Today the Treasury Department published the names of individuals who renounced their U.S. citizenship or terminated their long-term U.S. residency (“expatriated”) during the fourth quarter of 2015.
The number of published expatriates for the quarter was 1,058, bringing the total number of published expatriates in 2015 to 4,279.’
Continue reading at the International Tax Blog.
‘How does it feel to give up your nationality, to renounce the country you were born in, potentially forfeiting the chance to ever return?
“It’s not going to be easy at all. It’s the last thing I ever thought of doing,” Jane tells me when I meet her in a Paris cafe.’
Continue reading at BBC.com.
“The 2016 Model is the result of a concerted effort by the Treasury Department to further our policy commitment to provide relief from double taxation and ensure certainty and stability in the tax treatment of treaty residents,” said Deputy Assistant Secretary for International Tax Affairs Robert B. Stack. “The 2016 Model includes a number of provisions intended to eliminate double taxation without creating opportunities for non-taxation or reduced taxation through tax evasion or avoidance,” he added.
Continue reading at Taxpol.BlogSpot.HK.
WASHINGTON – Today, the Treasury Department issued a newly revised U.S. Model Income Tax Convention (the “2016 Model”), which is the baseline text the Treasury Department uses when it negotiates tax treaties. The U.S. Model Income Tax Convention was last updated in 2006.
Read the complete press release at the US Department of the Treasury.
‘I recently received a copy of a letter to First Lady Michelle Obama from a formerly dual U.S. and Canadian citizen, who chose to give up his U.S. citizenship. It speaks to some of the reasons that record numbers are renouncing their U.S. citizenship. The letter is reminiscent of Dear Mr. President, Why I’m Leaving America. The author noted that the letter to Mrs. Obama was a response to a political missive in which Mrs. Obama sought support for the Democratic Party in the upcoming Presidential election.’
Continue reading at Forbes.
‘Ironically, America is collecting millions of dollars from the record numbers of Americans renouncing citizenship. It is odd that the U.S. is making millions from Americans tossing their passports. The government has collected about $12.6 million in fees just since the fall of 2014, after hiking its fee to renounce citizenship by 422%, according to CNNMoney.’
Continue reading at Forbes