FATCA repeal introduced to the house of reps

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paladin
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Re: FATCA repeal introduced to the house of reps

Post by paladin » Sat Feb 11, 2017 10:06 pm

john wrote:
paladin wrote:why would anyone, out of choice, want to be a US citizen ?
To become great again? :)
When was the last time ?

lost gringo
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Re: FATCA repeal introduced to the house of reps

Post by lost gringo » Sun Feb 12, 2017 2:26 pm

john wrote:
paladin wrote:
john wrote:
paladin wrote:why would anyone, out of choice, want to be a US citizen ?
To become great again? :)
When was the last time ?
Prior to November 9, 2016. :)
Exactly one minute before 12:30 p.m. Central Standard Time (18:30 UTC) on Friday, November 22, 1963, in Dealey Plaza, Dallas, Texas.
Sometimes I wonder whether the world is being run by smart people who are putting us on or by imbeciles who really mean it.
allegedly said by Mark Twain

Andres
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Re: FATCA repeal introduced to the house of reps

Post by Andres » Sun Feb 12, 2017 6:28 pm

gregf wrote:Boy i hate paying taxes.

I wish we had a flat tax. I can't stand digging through paper and googling days to try to figure out whats what. The IRS docs are almost always to nonspecific to give me any sort of peace of mind that im reporting correctly and not screwing myself over in some shape.
That is one of MANY reasons I renounced my US citizenship.
I could not get straight, actionable opinions or clauses in IRS texts and laws to be able to comply with both US and Australian tax law. It was risky enough having only 'earned income'.
Adding in Chile and the potential of non-earned income, especially retirement income, made it all-too-hard to handle.
Chile: My expectations are low. Very low.
I accept chaos. I'm not sure whether it accepts me.

Andres
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Re: FATCA repeal introduced to the house of reps

Post by Andres » Sun Feb 12, 2017 6:35 pm

john wrote:
paladin wrote:
john wrote:
paladin wrote:why would anyone, out of choice, want to be a US citizen ?
To become great again? :)
When was the last time ?
Prior to November 9, 2016. :)
Your perception bias is showing again, John.
Exactly one minute before 12:30 p.m. Central Standard Time (18:30 UTC) on Friday, November 22, 1963, in Dealey Plaza, Dallas, Texas.
A much better answer (though perhaps not even accurate).

Another possibility:
America is the first country to have gone from barbarism to decadence without the usual intervening period of civilization
- Oscar Wilde
Chile: My expectations are low. Very low.
I accept chaos. I'm not sure whether it accepts me.

lost gringo
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Re: FATCA repeal introduced to the house of reps

Post by lost gringo » Sun Feb 12, 2017 8:04 pm

Andres wrote: America is the first country to have gone from barbarism to decadence without the usual intervening period of civilization
- Oscar Wilde
Good one :D
Sometimes I wonder whether the world is being run by smart people who are putting us on or by imbeciles who really mean it.
allegedly said by Mark Twain

Andres
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Re: FATCA repeal introduced to the house of reps

Post by Andres » Sun Feb 12, 2017 9:43 pm

Yes, that is another good one from him.
But the word got out and attracted some unwanteds to the 'neighbourhood'.
Chile: My expectations are low. Very low.
I accept chaos. I'm not sure whether it accepts me.

sqcpcg
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Re: FATCA repeal introduced to the house of reps

Post by sqcpcg » Tue Feb 14, 2017 10:04 pm

Andres wrote:
john wrote:
paladin wrote:
john wrote:
paladin wrote:why would anyone, out of choice, want to be a US citizen ?
To become great again? :)
When was the last time ?
Prior to November 9, 2016. :)
Your perception bias is showing again, John.
Exactly one minute before 12:30 p.m. Central Standard Time (18:30 UTC) on Friday, November 22, 1963, in Dealey Plaza, Dallas, Texas.
A much better answer (though perhaps not even accurate).

Another possibility:
America is the first country to have gone from barbarism to decadence without the usual intervening period of civilization
- Oscar Wilde
What makes you so sure that we have actually progressed beyond barbarism?

Andres
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Re: FATCA repeal introduced to the house of reps

Post by Andres » Wed Feb 15, 2017 5:46 am

I never said the USSA did. Oscar Wilde did.
It is probably possible to be barbaric and decadent at the same time.
Chile: My expectations are low. Very low.
I accept chaos. I'm not sure whether it accepts me.

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Re: FATCA repeal introduced to the house of reps

Post by admin » Wed Feb 15, 2017 10:22 am

lost gringo wrote:
Andres wrote: America is the first country to have gone from barbarism to decadence without the usual intervening period of civilization
- Oscar Wilde
Good one :D
"You can always count on Americans to do the right thing - after they've tried everything else." - Winston Churchill
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Re: FATCA repeal introduced to the house of reps

Post by admin » Mon Mar 27, 2017 9:54 pm

Interesting article on what is coming with the fatca repeal and the tax package being put together in the next few weeks. We will see, but there does seem to be movement.

https://www.caymancompass.com/2017/03/1 ... publicans/
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Re: FATCA repeal introduced to the house of reps

Post by admin » Wed Apr 26, 2017 5:33 pm

There was suppose to be a hearing today in congress about the consequences of FACTA on Americans living overseas.

I have not been able to find any solid information on it yet, but there was also passing mention of U.S. companies not paying taxes on their world wide income in the press conference today announcing trumps new tax plan. It seems corporate overseas taxes and private citizens taxes overseas tend to get used interchangeably at times by Washington politicians, so there might be some relief wrapped up in that. There was some vague talk of territorial taxes, as if they were going to make a push for the U.S. to stop taxing companies overseas and perhaps private citizens get to ride that train too.

At least something seems to be happening.
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Re: FATCA repeal introduced to the house of reps

Post by admin » Mon Oct 30, 2017 10:06 am

well, there seems to be a rumor of a rumor, that citizen based taxation might be getting cut in the new tax bill:
https://international-adviser.com/glimm ... -taxation/

After the charges this morning by special prosecutor Muller based on foreign transaction, it might light a fire under the republicans to protect all their friend's shady off-shore accounts.
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