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The Man (Or Woman) Without A Country
Over the last two years, the number of U.S. expatriations has skyrocketed. For 2013 alone, the number of Americans renouncing their citizenship has increased to 221%. As shocking as this statistic might sound, according to those in the “know,” it is grossly understated. This has inspired many to call the trend, “Ellis Island in reverse.” What has caused […]
Is The Justification For The United States’ System Of Worldwide Taxation A Hoax – Part 1
A Foot Massage More Painful Than Acupuncture
A Lowell chiropractor was recently sentenced in federal court in the District of Massachusetts for bribing an IRS agent. Stephen Jacobs, age 56, was sentenced by U.S. District Court Judge William G. Young to nine months in prison and ordered to pay a fine of $ 10,000. In October 2014, Mr. Jacobs pleaded guilty to […]
International Data Exchange Service for FATCA Launched
On January 12, 2015, the IRS announced that it had opened a data exchange service for enrollment by financial institutions and countries to use for complying with a U.S. tax law. The purpose of the data exchange service is to facilitate the exchange of information between foreign financial institutions and host country tax authorities, on the one hand […]
What’s In Your Wallet? Uncle Sam Wants To Know
Folks with Panamanian bank accounts may soon be getting some official-looking envelopes in the mail, as the Justice Department recently served John Doe subpoenas on FedEx, DHL, Western Union and a number of other shipping and wire transfer companies. These summonses require the targets to turn over any documents or material relating to their business […]