How Dodd-Frank and FATCA Impact Global Investment Choices
Foreign banks, brokers, and trust companies are falling head over heels in their rush to get rid of as many U.S. clients as possible.
The NSA Has Nothing on These Guys…
Thanks to secret documents released by NSA whistleblower Edward Snowden, we know that the U.S. government routinely monitors email messages, chat sessions, voice sessions, what sites we visit, what we buy and on and on... But when it comes to personal privacy, there's another group out there that makes the NSA look like simpletons.
If they try to sell you this, run, don’t walk…
Don't get me wrong – I hate government interference in my daily life. I hate how the state slithers into every aspect of our lives, takes our production in the form of taxes and generally bullies us around however they like. No doubt you do too.
Expatriation Statistics: A Look Behind the Curtain
As you may know, the latest quarterly statistics on "expatriation"—i.e., renunciation of U.S. citizenship—were published just a few days ago. A total of 1,130 names appeared in the latest list, which happens to be many more than any previous quarterly total, and more than the total number of expatriations reported in all of 2012.
How Your Boss’ Prying Eyes Could Land You a Visit from the Feds
By some estimates, more than two-thirds of company-provided computers in the U.S. are monitored by employers. If you work for such a firm, every email you send, every cute and crazy cat video you watch on YouTube, and every Google search you make is tracked, catalogued, and archived somewhere in the system.
Congress Wants the IRS to Cancel Your Passport
If you think your U.S. citizenship gives you the right to a U.S. passport, think again. The government has several ways to cancel or refuse to renew your passport.
Unforeseen Consequences of Expatriation: A Personal Account
Acquiring a passport in another country and then expatriating—giving up your U.S. citizenship and passport—is a very serious decision. If you change your mind and want to return "home" to the United States, you might not be able to.
Tax Records: No Fifth Amendment Protection
It can... at least when it wants to ensure you're paying your taxes. Even though it goes against one of the hallmarks of the Bill of Rights, which reads:
From Bank Bail-Ins to Civil Forfeiture: How to Protect Your Cash
If you don't trust U.S. banks to protect the monies you've deposited with them, you're hardly alone.
The Ex-Patriot Act: Proposed 2012 United States Federal Law
The United States is one of only two countries (the other is Eritrea, a military dictatorship) that taxes its citizens and long-term residents, no matter where they live. Even Americans who haven't lived in the United States in decades must pay tax on their worldwide income as if you never left. What's more, they must comply with complex reporting obligations, with violations subject to draconian civil and criminal penalties.
When You Need to Disappear
Whistleblower Edward Snowden needs to disappear if he is to avoid kidnapping, assassination, extradition, or deportation to the United States. If you're ever faced by a situation in which you need to disappear, right away, what would you do?
How the USA Captures Whistleblowers and Other Political Enemies
Sitting in a restaurant in Belize City last week, I was mesmerized by television reports describing NSA whistleblower Edward Snowden. Most of the press coverage of Snowden's leaks has dealt with the breathtaking scope of the U.S. government surveillance he revealed. But, I've been thinking about the reprisals that he's likely to face—and what options the United States has to force his return.
Nevis LLC: State of the Art Asset Protection
Do you have business or investment assets you're looking to protect from frivolous litigation? If you do, a Nevis limited liability company (NLLC) could be one if the most effective and least expensive ways to protect it.
No Statute of Limitations for Failing to File U.S. Tax Returns
It's not something you want to think about, but old taxes can come back to haunt you. This is especially true of returns you've never filed. The statute of limitations—that legal egg timer, normally set to three years—never starts to run on unreported activities. And there are cases now of the IRS going back decades, collecting big money—plus penalties and interest—on form-filing failures, accounting errors, and innocent mistakes by unwary people.
Inconsistencies in the IRS Expatriation Statistics
Official IRS statistics published in the Federal Register show that the number of U.S. citizens or long-term residents losing U.S. citizenship increased from 45 in the last quarter of 2012 to 679 in the first quarter of 2013. In 2012, according to IRS expatriation statistics, 932 Americans officially expatriated.
The Best Quality of Life in the World— Why and How to Become A Resident or Citizen of Austria
Why would someone want to become a resident or a citizen of Austria?
U.S. Government Watchdog Agency Urges IRS to Intensify Efforts to Identify Offshore Tax Cheats
While you’d never know it reading recent headlines describing IRS targeting of conservative “Tea Party†type groups, a much larger IRS effort is underway to identify U.S. persons who have failed to disclose reportable and possibly taxable non-U.S. investments.
Fractional Reserve Banking: It’s Not Your Money…You Only Think It Is!
In the aftermath of the forced confiscation of bank accounts in Cyprus, the question that clients ask me most is, “could it happen here?†“Here†is wherever the client lives or invests, and could be the United States, Canada, Australia, New Zealand, Switzerland, or any other country. The answer is yes. This result stems from the nature of our modern financial system, built as it is on the flawed foundation of a poorly-understood concept called “fractional reserve banking.â€
Government Against the People: It Gets Worse In the Late Stages
(Mark here. I've known Paul Rosenberg, the CEO of virtual private network provider Cryptohippie, for many years. Paul recently re-launched his very informative "Freeman's Perspective" service, and I agreed to publish one of his articles. I hope you enjoy his writing.)
Tax Obligations And Tax Breaks For U.S. Citizens & Residents Living Abroad
Now that the U.S. tax season is well under way, tax preparers all over the country are doling out appointments to those that live within our borders. But just what are the tax obligations and tax breaks, for U.S. citizens or green card holders living abroad?
Are You a Good Candidate for Expatriation?
Over the last few years, I’ve helped dozens of U.S. citizens and permanent residents (“green card†holders) give up their U.S. nationality or residence status. This is called Expatriation.
Cell Tracking for Dummies
No, I’m not saying that you’re a dummy. What I am saying is that it’s easy for someone to monitor your cell phone activity. Almost any dummy can figure it out, hence the title "Cell Tracking For Dummies".
A Fast Way to Obtain Permanent Australian Residency
Australian residency is an often overlooked option for individuals seeking permanent residence in a first-world, English-speaking country.
FATCA: Blowback is a Bitch
Blowback- an unforeseen and unwanted effect, result, or set of repercussions
Yes, You ARE a Criminal…You Just Don’t Know it Yet
How many felonies have you committed today? If you're like most Americans, you probably violate federal or state law several times each day, without even knowing it.
New Options for Fast-Track EU Citizenship
Two weeks ago, I returned to the United States after more than three weeks abroad, first in the Caribbean, then in Europe. I've come back with new options for Fast-Track EU Citizenship.
Beep for the U.S. Citizen!
I arrived here in the Commonwealth of Dominica earlier this week. It's always a pleasure to come here; I go through the "residents" line at passport control and the official stamps my Dominica passport with the notation "RR" for returning resident.
Feds Delay 30% Withholding on Outbound Capital Transfers—Again
(This is an important update to a posting originally published Nov. 9, 2012).
Ruth Shipley: Pioneer of Passport Denials
In between eggnog, opening gifts, along with a bout of flu, last week I reviewed a fascinating article dealing with the near century-long tradition of passport denials by U.S. officials.
Hotel Guest Profiling: Suspicious Behaviors Exposed
Do you routinely put the "do not disturb" sign on your hotel room door? If you do, you may fit the profile of a suspected terrorist, and the FBI and Homeland Security Administration want to know about it.
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