tag:blogger.com,1999:blog-1519969502186924526.post1875449122687724727..comments2023-10-24T08:00:53.865-05:00Comments on Federal Tax Crimes: IRS Promotes the Success of OVDI and Related Items (9/16/11)Jack Townsendhttp://www.blogger.com/profile/14469823736335455874noreply@blogger.comBlogger73125tag:blogger.com,1999:blog-1519969502186924526.post-78476272937698045232014-08-13T00:45:31.071-05:002014-08-13T00:45:31.071-05:00thank you banking information and loan function or...thank you banking information and loan function or credit cart used loan submitsbuymotivesmakeupnoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-18429003212311441632011-10-06T16:00:38.197-05:002011-10-06T16:00:38.197-05:00ij,
I think you might not understand all the imp...ij, <br /><br />I think you might not understand all the implications of FATCA. You would not be alone in this, so I am not trying to be critical. It does have impacts on you, you just don't know enough about it yet, to understand why. <br /><br />I would encourage you to read this article at Risk Net. You will have to temporarily subscribe to a one month free trial to access it all, but I think there are systemic risks inherent in this program will have some serious consequences in the US of A.<br /><br />I would post it all here, but it would take a couple postings... and I won't hog all the space... <br /><br />http://www.risk.net/operational-risk-and-regulation/feature/2109648/banks-fear-fatca-raises-operational-systemic-risksJust Menoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-52139610410810256262011-10-06T13:01:57.426-05:002011-10-06T13:01:57.426-05:00Just me,
It has been a fashion for rich Chinese...Just me,<br /><br /> It has been a fashion for rich Chinese to have a foreign passport (US, Canada and other developed countries). It is not they want to live in foreign countries, rather it is a symbol of prestige. China is where they can make a lot money. Also it is a plan B to exit if things really go wrong in China. <br /><br /> Given the US global taxation policy, plus FBAR etc, it seems too much to take for being a US expat. <br /><br /> FATCA has no impact on me, as all my offshore (non-RRSP) are gone already (spending on child support/education and transaction to US). So the motive to join OVDI is more on the doing the right (guilty on small amount tax due), and wishfully expecting fairness from IRS (such as on RRSP).<br /><br /> While I have no moral ground to protest for my own case, exposing what is like inside OVDI is a message to all -- if the squirrel should be honest to tell the bear for stealing food in the first place -:)ijhttp://ij.orgnoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-33580562765365799402011-10-06T11:37:24.519-05:002011-10-06T11:37:24.519-05:00Well, ij...
It is true, that maybe immigrants in...Well, ij... <br /><br />It is true, that maybe immigrants in the US will have a harder time getting sympathy, but that still doesn't mean that penalties are not too disproportionate for the “so called” crime. You still were not the VD target of the effort!! The IRS could have done a much better outreach to new Immigrants to help them know about the strange FBAR requirements, rather than just using a gotcha form to level heavy penalties now. It is just not good governance, and it is just wrong. <br /><br />Where I live, when the time came that I had to start reporting my foreign earnings, ie those earnings back in America, I received a nice letter from the Tax Department informing me of my responsibility. What a novel idea!! Advance communication. (No special form to file to some obscure office either) Did you ever receive anything like that from the US government, new as you were to America, and having natural language issues understand the strange IRS rule requirments? You are tri-lingual, and I am uni-lingual, and I still had trouble. The US needs to do a better job of “outreach”, but that word is not in their lexicon, or if it is, it must be synonymous with “Criminal Prosecution”. I think you have reason to be outraged that you are treated so abhorrently. I do note you friend back in China thinking Australia is a better place to immigrate to. He would be right in his analysis. He will still have to report on foreign earnings back in China, but there is no FBAR gotcha!! <br /><br />btw just saw this... Reuters has now picked up the FATCA story... 2 hours ago... This is probably coming from the Press Release mill, but some coverage is better than none!<br /><br /><br />Private bank clients urged to avoid U.S. securities<br /><br />http://www.reuters.com/article/2011/10/06/us-wealth-summit-fatca-idUSTRE7943GX20111006<br /><br />and when I see these stories, they get forwarded to every reporter and news source email I have gathered. I must have sent out 35 last night. <br /><br />FACTA is not the FBAR issue, but the legislation did arise in 2010 after the so called success of the OVDP program and UBS efforts. Congress wanted to extend the reach for tax evaders and crack down. There is a narrative that ties the two together, so I keep hammering the FATCA issue, as when you back up to ask, how did we get to this obnoxious piece of Imperial legislation(?), it leads straight to UBS prosecution and the 2009 OVDP.Just Menoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-57524667249400852102011-10-06T09:49:20.477-05:002011-10-06T09:49:20.477-05:00Just me, ij et all
I agree that we need to speak u...Just me, ij et all<br />I agree that we need to speak up and show our displeasure on how this OVDI is affecting expats<br />and immigrants (long time and recent)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-40862505729908037922011-10-06T08:39:56.361-05:002011-10-06T08:39:56.361-05:00Just me,
Expat US citizens have a moral ground ...Just me,<br /><br /> Expat US citizens have a moral ground to protest this excessive FBAR penalty. It is a just cause. I strongly support this effort.<br /><br /> It is totally a different picture for immigrants (particularly long time US residents), and I don't any public sympathy.ijhttp://ij.orgnoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-52869766360123528572011-10-06T08:22:33.805-05:002011-10-06T08:22:33.805-05:00And there are a few more. Maybe the news will be ...And there are a few more. Maybe the news will be picked up in the US press some day...<br />Email them around. Pick out a reporter you know from what every media you follow and send these these. Instead of nightly prayers, this is what I do... LOL<br /><br />U.S. tax crackdown has Canadian financial firms on edge.<br /><br />http://www.ctv.ca/generic/generated/static/business/article2192258.html#ixzz1ZymmvGYS<br /><br />U.S. tax grab called extreme<br /><br />http://www.montrealgazette.com/news/grab+called+extreme/5508668/story.html<br /><br />and this... in the FATCA unintended Consequence category... from India Financial Times..<br /><br /><br />Private bank clients urged to avoid U.S. securities<br /><br />http://economictimes.indiatimes.com/news/international-business/private-bank-clients-urged-to-avoid-u-s-securities/articleshow/10247625.cmsJust Menoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-69448909771006007542011-10-06T00:14:40.463-05:002011-10-06T00:14:40.463-05:00And yet another one tonight...
Is the IRS going t...And yet another one tonight...<br /><br />Is the IRS going to War with Canada...<br /><br />http://goingconcern.com/2011/10/is-the-irs-going-to-war-with-canada/Just Menoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-21481303971185001362011-10-05T23:30:16.446-05:002011-10-05T23:30:16.446-05:00New story out tonight on Reuters that Finance Mini...New story out tonight on Reuters that Finance Minister of Canada, Flaherty has spoken to Geithner about tax issues..<br /><br />Good luck getting him to listen..<br /><br />http://www.reuters.com/article/2011/10/05/canada-usa-taxes-idUSN1E7941R120111005Just Menoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-10281145562255106202011-10-05T12:27:22.677-05:002011-10-05T12:27:22.677-05:00Annon October 4, 2011 12:36 AM
You are absolutel...Annon October 4, 2011 12:36 AM<br /><br />You are absolutely right in the need for some action by the victims of the OVDI. Although, most are fearful of retribution, and too busy trying to get their submissions done or assess their risks in an Opt Out. <br /><br />There still needs to some activism, and a little less passive victimhood, however, I do understand why the OVDIs are keeping their heads down. For every post here, would encourage you to at least send one email or make one contact with the press about problems of the VD programs and disproportionate penalties for Minnows that were not the Target of all these programs to begin with. Start by sending emails and encouraging those reporters that do write the stories in Canada to keep it up. Eventually, the reporters in the US will begin to notice. For instance, finally, a story came out on Global Post yesterday who is a partner to PBS News Hour. That doesn't mean they will do anything with it, but it does mean the profile has been raised and someone on the News Hour team has at least noted it. <br /><br />http://www.globalpost.com/dispatch/news/regions/americas/canada/111003/american-canadians-wanted-by-irs-taxes%20<br /><br />You all know reporters names in the media you probably follow or read, so send them an email, and do it regularly. Watch and listen to where they get their news tips and narratives from and work up the news food chain. They may not respond, but it does begin to put the issue into their consciousness. <br /><br />Since I am done with the OVDP, I have been sending out Emails and comments nightly and getting some nibbles of interest. I keep trying different strategies to attack attention, and they may or may not work. The chances are admittedly slim, and might have to go to NY and sit with the "Occupy Wallstreet" crowd to get a reporters attention! LOL<br /><br />Thanks for taking the effort to post those contacts and phone numbers.Just Menoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-25757556033947472272011-10-04T00:36:19.288-05:002011-10-04T00:36:19.288-05:00"I think the Canadian panic is way overblown...."I think the Canadian panic is way overblown. A cross border CPA said he had filed 1000 late FBARs and taxes for US expats in Canada over the last few months and had seen no problems."<br /><br />Your CPA source likely needs to wait a while longer before the trouble starts. As we know, the IRS moves slowly. The more pressure we can apply now by way of letters, emails, telephone calls, faxes, etc. will help shed light on the situation as it truly is and hopefully create some sympathy for all minnows, not just the Canadians. <br /><br />Try contacting the Internal Revenue Service Advisory Council (IRSAC) which conveys the public's perception of IRS' activities. Contact Ms. Lorenza Wilds at 202-622-6440 or by fax at 202-927-5253. <br /><br />Also try the Taxpayer Advocacy Panel (TAP) at 1-888-912-1227. <br /><br />Also try the IRS Oversight Board at tel. 202-622-2581, fax: 202-622-7944, & email: irsob@do.treas.gov<br /><br />Also try the Senate subcommittee on Taxation & IRS Oversight at 202-224-4515 or fax 202-228-0554.<br /><br />Finally, has anyone started an “2011 OVDI" Facebook page of some kind? <br /><br />Whether or not you’re in the 2009 OVDP or 2011 OVDI, contacting these people and politely expressing your displeasure will help us all!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-86483010533153500192011-10-03T20:26:46.004-05:002011-10-03T20:26:46.004-05:00join the honor list, here is Premier David Alward ...join the honor list, here is Premier David Alward of New Brunswick, who is also in our OVDI 2011<br /><br />http://telegraphjournal.canadaeast.com/news/article/1444557<br /><br />As I always think no expat US citizen should pay FBAR penalty. My def offshore is always relative the the taxpayer's residency.ijhttp://ij.orgnoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-19886701470966573362011-09-29T17:06:40.517-05:002011-09-29T17:06:40.517-05:00Poser and anon......
It is amazing. I just shake ...Poser and anon......<br /><br />It is amazing. I just shake my head in wonder. I will be writing the Congressman tonight. I will remind of the FATCA law that came out of the Congress he belongs in, and maybe point out the ridiculous way the IRS is administering these OVDI programs...<br /><br />And thnx for the link to the Cato piece. That has inspired 3 emails already, and one back to the author to encourage him to do more. He should add OVDI and FATCO to his You tube videos as other examples of other IRS actions run amuck.Just Menoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-5528246356743090322011-09-29T12:56:48.285-05:002011-09-29T12:56:48.285-05:00Just Me:
As far as I know, the IRS hasn't the...Just Me:<br /><br />As far as I know, the IRS hasn't the right to force such a regulation on US banks and this shows the utterly rogue nature of the IRS; they do not have the law on their side; this would be an usurpation of the legislative branch. But also, the current situation shows the hypocrisy of Congress, to impose one thing on foreign banks, and require the opposite from US banks. FATCA does not require reciprocity.<br /><br />http://www.cato-at-liberty.org/reckless-irs-regulation-would-put-foreign-tax-law-over-american-tax-law-and-drive-investment-out-of-the-united-states/Posernoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-11926199107630228542011-09-29T11:27:37.310-05:002011-09-29T11:27:37.310-05:00So "...imposing unnecessary burdens on U.S. b...So "...imposing unnecessary burdens on U.S. banks is the wrong way to address the problem”. But imposing the exact same unnecessary burdens on non-US banks via FATCA is? You really have to wonder sometimes what planet these idiots live on.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-21129033322097974132011-09-29T10:18:03.290-05:002011-09-29T10:18:03.290-05:00To all Immigrants or Nonresident aliens.
I have a...To all Immigrants or Nonresident aliens.<br /><br />I have a bit of irony to share, that I just discovered.<br /><br />The IRS is about to impose on US banks the new requirement to report interest paid on funds deposited by nonresident aliens back to their home country!!<br /><br />I suppose they are doing this, because they are trying, via FATCA, to get all world wide financial institutions to be IRS tax collectors, and maybe they are wanting to set a good example, or something. IE, What is good for the goose, is good for the gander.<br />This unilateral action might help stem complaints by banks around the world about the cost and problems they will have implementing FATCA.<br /><br />Anyway, encourage you to read this article...<br /><br />One Congressman is trying to stop this effort. <br /><br />http://www.accountingtoday.com/news/Congressman-Tells-IRS-Back-off-Bank-Disclosures-60322-1.html<br /><br />and then download and read this letter by Congressman Charles Boustany, Jr., MD<br />Chairman, Subcommittee on Oversight, sent September 27, to Timothy Geithner. <br /><br />http://waysandmeans.house.gov/UploadedFiles/Letter_on_NRA_taxation_final.pdf<br /><br />Here are just two paragraphs to tweak your interest, and I reproduce below...<br /><br />"As the Chairman of the Ways and Means Subcommittee on Oversight, I am writing regarding the Internal Revenue Service’s (“IRS”) efforts to require banks to disclose interest paid to nonresident aliens, IRS Notice of Proposed Rulemaking REG-146097-09 (“proposed regulation”). If the regulation were to take effect, it would not only run counter to the will of the Congress, but would potentially drive foreign investments out of our economy, hurting individuals and small businesses by reducing access to capital. I write to request that IRS suspend the proposed regulation.<br /><br />The proposed regulation requires U.S. banks to collect and report information on interest paid to nonresident aliens who deposit funds in U.S. financial institutions. As the Internal Revenue Code imposes no taxation or reporting requirements on this deposit interest, the proposed regulation serves no compelling tax collection purpose. Instead, it is my understanding that the IRS seeks this new authority to help foreign governments collect their own taxes abroad. While the United States continues to be a leader in efforts to fight international tax evasion, imposing unnecessary burdens on U.S. banks is the wrong way to address the problem.”<br /><br />If I were you, I would be writing this Congressman's office. There may be an ally there that is sympathetic to some of your plights, or some who would be willing to push back on FATCA which imposes these extreme requirements on all banks in the world! <br /><br />Anyway, the letter amused me, and it is very strange what I find amusing these days... I would bet that he has some Bank Lobbyist supporting his efforts!Just Menoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-74984288838903910862011-09-28T20:14:40.158-05:002011-09-28T20:14:40.158-05:00Follow up "Just Me" and Poser
A bit o...Follow up "Just Me" and Poser <br /><br /> A bit off the topic, but related to tax issue, I hope Jack won’t mind of this posting. <br /><br />By Chinese law, one loses his/her Chinese citizenship automatically as soon as he/she becomes a citizen of another country. A Chinese citizen does not need do anything for giving up citizenship.<br /><br />When Chinese go to their embassy or consulate (where passport can be renewed), they have to show the Chinese official that they have not yet naturalized to become US/Canadian citizen. This is easy here in US, as a resident alien always has a status (such as green card or H/J/F/B visa), as long as these status are still valid, the passport can be renewed. Once a Chinese becomes US citizen, the green card will be taken back by Immigration, so there is no more paper to prove his/her immigration status, so the embassy won’t renew the passport.<br /><br />It was a bit different in Canada back over 10 years ago; a resident alien has a piece of paper indicating his/her status, but this paper (such as landed immigrant status) won’t be taken back by Canadian Immigration even if the Chinese has become Canadian citizen. To prevent some Chinese take advantage of using Chinese passport while being a Canadian citizen, the embassy demands all Chinese citizen with landed immigrant status to prove that they have not become Canadian citizen. So each time a Chinese wants to renew passport, he/she needs Canadian Immigration to issue a letter to prove non-Canadian citizenship. <br /><br />Chinese government does not recognize a new born (born in US) US citizenship if both of his/her parents are visa residents in US (that means parents are not green card holders or US citizen). So the parents want to take the baby back to China, they can not apply for a visa for the baby to enter China by using US passport, instead, the baby will be given an entry permit. Once in China, the Chinese government will only recognize this baby as Chinese citizen.<br /><br />Here is the tax issue. When the baby grows up, he becomes super rich. US government still considers him/her a US citizen, so under US taxation. I do not know if there is a tax treaty between China and US. Assuming there is a treaty and Chinese government is supposed to enforce US tax law to US citizens living in China. What is going to happen to this US born (Chinese citizen only by Chinese government) taxpayer?<br /><br />I think the Chinese citizenship law will prevent Chinese tax authority to enforce US tax law on this person.ijhttp://ij.orgnoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-77976284842731685992011-09-26T19:08:52.249-05:002011-09-26T19:08:52.249-05:00To Poser...
Interesting story about the "Cer...To Poser...<br /><br />Interesting story about the "Certificate". Thanks for some of those details.<br /><br />Kinda reminds of my concern that I needed an official "Zarpa" from Mexico, when I departed there in my sail boat headed for Galapagos. This was my first real off shore passage where I wasn’t just cruising along a coast line. <br /><br />The Zarpa, is an official certificate for port to port clearing. It was supposed to show that you have properly cleared out of one countries port, and can now be allowed into another country. Novice that I was then, I was really concerned, that if I did not have it to present in Port Ayora upon my arrival, they wouldn't let me in. <br /><br />Consequently, I went though a lot of hassle, and some expense in Acapulco to obtain one before I set sail. Mexican check out procedures for a small sail boat were almost as bad as for a Cruise ship, at least back then.<br /><br />Well, guess where that important Zarpa is now? Yup, still in my cruising paper work files, pristine and ready for framing!<br /><br />When I tried to show it at the next port, there was the puzzled look like "what the hell is this for?" LOL<br /><br />Never again bothered trying to get one again for my many offshore passages. <br /><br />Sorry, just couldn’t help reminiscing some, about the importance we place on official "certificates." <br /><br />BTW, and just an aside, back in the late 80s, there was one form that was ubiquitous in all ports everywhere in the Pacific Ocean. It was called the Coast Guard form, or other unfavorable terms by the French who at the time, refused to comply with the US government requirement to fill it out. Every government port was supposed to complete it and fax it to Hawaii. The US, exercising its dominion over the entire Pacific, was trying to track all small vessel activity everywhere, including my sailboat. I guess that was the Marine FBAR equivalent of the time. It really bugged me then, that even 1000s of miles from land and America, and upon entering or leaving any foreign port, the US government was trying to keep track my comings and goings. At least, during my stay in French Polynesia, they have some blanks in their record. God bless the French! LOLJust Menoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-2856688660060719632011-09-26T12:19:43.337-05:002011-09-26T12:19:43.337-05:00"Poser: Did you get a Certificate of Loss of ..."Poser: Did you get a Certificate of Loss of Nationality? I thought they don't issue it until you make peace with the IRS."<br /><br />Actually, no not yet. I did go into the US consulate and let them know that I committed an expatriating act with the intent of losing my US citizenship. The State Department issues the CLN, not the IRS. The CLN is the necessary document to prove to the IRS that you've expatriated, and they require it before one files the 8854 (or whatever the expatriating form is). The only catch is that the State Department may (1) deny me expatriation, which would be a violation of my international and US rights; (2) charge me $450 for the CLN when it is finally issued (it's now been about 5 months--but I understand it can take 6 months or more--because it is the government we are dealing with after all)--I won't pay that under any circumstances. It is not clear, therefore, whether the $450 covers the oath of renunciation (which I didn't do because I committed another act whcih causes the relinquishment of the US citizenship--oath of citizenship, taking on foreign citizenship with the intent of relinquishing US citizenship). I think ever consulate has its own rules about the $450 fee; the one here didn't charge it to inform them that I had committed a relinquishing act. But I may find out that they want $450 when the consulate calls me to obtain the CLN.<br /><br />As for the expatriating forms, I don't see how the IRS can enforce it if your assets are not in the US. What liens or other punishments can they do against me? The Revenue Canada has already said they won't help the US for failure to file and not paying the expatriation tax or filling out the expatriating forms is not covered under the extradition treaty between the US and Canada. Furthermore, as far as I am aware, the failure to file the forms is not normally a criminal act (i.e., criminal failure to file requires a reasonable cause, and what would they base that on? I've not had that much income). So even if I went to the US to visit my family (believe me, I'm not going to the US for any other reason--used to spend $2,000 per year going to academic conference, trips to Hawaii, etc.), I probably won't have any issues at the border.Posernoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-72226588909578106752011-09-26T00:37:24.893-05:002011-09-26T00:37:24.893-05:00The Globe and Mail in Canada is sure being persist...The Globe and Mail in Canada is sure being persistent in their coverage and uncovering the false narrative of the so called IRS “Success”, They are certainly right on target related to Expats...<br /><br />Another story tonight..<br /><br />http://www.theglobeandmail.com/report-on-business/irs-tars-law-abiding-expats-with-same-brush-as-tax-cheats/article2179482/<br /><br />Maybe the US media will begin to pay attention.Just Menoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-51220730811518572792011-09-25T21:49:02.780-05:002011-09-25T21:49:02.780-05:00They should make an FBAR-EZ and 8854-EZ, etc. but ...They should make an FBAR-EZ and 8854-EZ, etc. but my tax accounting teacher who's been practicing for 30+ years says that every time they try to make things less complicated they actually make them more complicated, and she wishes to heaven they would let things be as they are.Mnoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-71879619934231884622011-09-25T21:33:42.599-05:002011-09-25T21:33:42.599-05:00To Anon September 25, 2011 5:35 PM
Boy, what can ...To Anon September 25, 2011 5:35 PM<br /><br />Boy, what can one stay to that? Between the two forms, everyone is trapped!! Thanks for the additional clarifications, as depressing as the commentary is to hear.<br /><br />Certainly understand you not wanting to return to the US for any reason. Why would you? America has just lost the plot!<br /><br />and Poser.... I saw your post over at Phil’s blog. Thanks for that Financial Post Link. I have re-posted it here.<br /><br />Here Mr Shulman, does this look like the face of the tax cheats you are after??.<br /><br />http://business.financialpost.com/?p=93636&preview=trueJust Menoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-43753830099104425602011-09-25T21:19:31.643-05:002011-09-25T21:19:31.643-05:00Poser: Did you get a Certificate of Loss of Nation...Poser: Did you get a Certificate of Loss of Nationality? I thought they don't issue it until you make peace with the IRS.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-85810295941555995072011-09-25T17:35:43.780-05:002011-09-25T17:35:43.780-05:00"I think you are talking about the new IRS fo..."I think you are talking about the new IRS form 8938, not 8854 which covers Expatriation Reporting Rules, No?"<br /><br />No, I really mean Form 8854. Because I "expatriated" (not in any way a correct term since I was an LPR and not a US citizen, but the govt apparently makes no distinction) in May 2008 I'm covered by the old pre-"exit tax" rules. As a result I have to file a full US tax return plus a complete report of all of my worldwide assets -- that's form 8854 -- to the IRS every year until 2019.<br /><br />I'm not a US citizen, I don't live in the US, and I don't hold any investments in or have any other connection to the US. Yet am still bureaucratically hassled by the IRS, which sees fit to waste both my time and theirs with this utterly pointless and ridiculous reporting requirement for a decade, demanding information well beyond what ordinary folk would consider invasion of privacy.<br /><br />I'm also unable to visit the US for more than 30 days in any calendar year. And strictly, under the "Reed Amendment" I may actually be inadmissible to the US completely, simply because I had a certain level of assets when I left. Not, of course, that I have the slightest intention of returning to the US for any reason whatsoever in the future...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1519969502186924526.post-54975946004733053292011-09-25T17:33:26.141-05:002011-09-25T17:33:26.141-05:00I've expatriated by committing a expatriating ...I've expatriated by committing a expatriating act with intention of relinquishing my US citizenship. But the idea of filling out 8854 and final 1040NR for the last three years is so daunting I've decided not to do it--it is daunting because it will reveal that I'm not in conformity with FBAR because I've never filled out one of those forms, and the 8854 violates my constitutional right to security of my papers--and I'm not even a covered expatriate. So on Fifth Amendment grounds, I'm not going to fill it out. I figure, for what it is worth, that I'm not a damn American any more so it's none of the IRS' business what my assets are.<br /><br /><br />All my assets are here in Canada, and I'll be damned if I'm going to tell the IRS what I have. So you folks who will pay 5, 15, 20, 25% of your wealth to IRS to make it clean, just realize there are people out there like me, who'd rather lose their citizenship than make clean with that criminal organization called the IRS.Posernoreply@blogger.com