American Expats' Tax Nightmare: Applied to Americans living abroad, Fatca rules r absurd. http://t.co/QaqH8thPd3 via @WSJ by @Thunfinancial
— John Richardson – lawyer for "U.S. persons" abroad (@ExpatriationLaw) July 10, 2014
The above tweet references an Op-Ed by Thun Financial’s David Kuenzi which recently appeared in the Wall Street Journal. This is a nicely done article which adds reinforcement to the excellent journalism by the Wall Street Journal’s Laura Saunders and Liam Pleven which appeared in the Wall Street Journal on June 18, 2014 and (discussing the new IRS Streamlined procedures) on June 19, 2014.
(The new Streamline Procedures were discussed by various “stakeholders” extensively:
The OVDP and Streamlined Historians – Perspectives of various Americans Abroad:
– at the Isaac Brock Society here and here
– by American Citizens abroad here
The second citizenship advocates:
– by Mark Nestmann here
The accounting firms:
– from Frank Hirth (U.K. based) here
The “What is non-willfull” group here:
– by Stephen Mopsick here and earlier here
– by Patrick Martin here
– more by Patrick Martin here
– by Jack Townsend here
– by Robert Steinberg (particularly good analysis) here
The “Technicians” AKA “who is streamlined intended for” here:
– by Moodys here
– by Virgina La Torre Jeker here
– by Jack Townsend here
– by Robert Steinberg here)
Those who recognize that citizens of certain countries may have a second level of “home country specific issues” (Iran):
– by Virginia La Torre Jeker here
The Logistics – How to manage Streamlined “conFORMity”:
– by Virginia La Torre Jeker here
Interestingly both Mr. Kuenzi (as a presenter) and Ms. Saunders (as a journalist) attended the recent conference on U.S. Citizenship-based taxation conference which was held at the University of Toronto on May 2, 2014. The Toronto citizenship-based taxation Conference was a great success. Those interested can read: Thoughts and reflections on the Toronto Conference on the taxation of Americans abroad in the 21st century.
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