Fugitive Tax-Slaves

Proposed U.S. law could be a Snowbird tax timebomb

"The good news is that the JOLT Act, (Jobs Originated through Launching Travel), would allow Canadian retirees to spend up to eight months, or 240 days, each year in the U.S. without a visa. That’s almost two months longer than the current 182-day annual limit. The bad news is that snowbirds who spend that long in the U.S. may be required to pay U.S. taxes. 'It looks like a great deal. I can be in Palm Springs for 240 days., but they didn’t tell you that it comes with a very high tax cost,' Roy Berg, international tax lawyer at Moodys Gartner Tax Law in Calgary, said in an interview." Continue reading →

Continue ReadingProposed U.S. law could be a Snowbird tax timebomb

Moral of the Story: Tax Havens Are Okay if You’re a Politically Connected Leftist

"You probably won’t be surprised to learn that Secretary Lew wasn’t the first Democrat to utilize tax havens. Lawmakers such as John Kerry, Bill Clinton, John Edwards, and others on the left also have utilized tax havens to boost their own personal finances. And it appears that Mr. Lew won’t be the last Democrat to be caught with his hands in the cookie jar. Here’s some of what’s being reported by the New York Times with regards to the President’s nominee to be U.S. Trade Representative, Michael Froman." Continue reading →

Continue ReadingMoral of the Story: Tax Havens Are Okay if You’re a Politically Connected Leftist

“Entrapment” by the IRS resulted in “ruinous penalties” for ordinary Americans

"The Geneva-based international group says that the 2009 OVDP in particular was 'extremely prejudicial to Americans living overseas who sought to become compliant with their taxes due to errors or omissions under the OVDP. Believing they could come back into the system by simply filing the appropriate paperwork and paying any outstanding tax burden, these individuals were later told they would be hit with a standard penalty of 20% of the highest value of their bank accounts over a five-year period.'" Continue reading →

Continue Reading“Entrapment” by the IRS resulted in “ruinous penalties” for ordinary Americans

“Entrapment” by the IRS resulted in “ruinous penalties” for ordinary Americans

"The Geneva-based international group says that the 2009 OVDP in particular was 'extremely prejudicial to Americans living overseas who sought to become compliant with their taxes due to errors or omissions under the OVDP. Believing they could come back into the system by simply filing the appropriate paperwork and paying any outstanding tax burden, these individuals were later told they would be hit with a standard penalty of 20% of the highest value of their bank accounts over a five-year period.'" Continue reading →

Continue Reading“Entrapment” by the IRS resulted in “ruinous penalties” for ordinary Americans

“Entrapment” by the IRS resulted in “ruinous penalties” for ordinary Americans

"The Geneva-based international group says that the 2009 OVDP in particular was 'extremely prejudicial to Americans living overseas who sought to become compliant with their taxes due to errors or omissions under the OVDP. Believing they could come back into the system by simply filing the appropriate paperwork and paying any outstanding tax burden, these individuals were later told they would be hit with a standard penalty of 20% of the highest value of their bank accounts over a five-year period.'" Continue reading →

Continue Reading“Entrapment” by the IRS resulted in “ruinous penalties” for ordinary Americans

“Entrapment” by the IRS resulted in “ruinous penalties” for ordinary Americans

"The Geneva-based international group says that the 2009 OVDP in particular was 'extremely prejudicial to Americans living overseas who sought to become compliant with their taxes due to errors or omissions under the OVDP. Believing they could come back into the system by simply filing the appropriate paperwork and paying any outstanding tax burden, these individuals were later told they would be hit with a standard penalty of 20% of the highest value of their bank accounts over a five-year period.'" Continue reading →

Continue Reading“Entrapment” by the IRS resulted in “ruinous penalties” for ordinary Americans

“Entrapment” by the IRS resulted in “ruinous penalties” for ordinary Americans

"The Geneva-based international group says that the 2009 OVDP in particular was 'extremely prejudicial to Americans living overseas who sought to become compliant with their taxes due to errors or omissions under the OVDP. Believing they could come back into the system by simply filing the appropriate paperwork and paying any outstanding tax burden, these individuals were later told they would be hit with a standard penalty of 20% of the highest value of their bank accounts over a five-year period.'" Continue reading →

Continue Reading“Entrapment” by the IRS resulted in “ruinous penalties” for ordinary Americans

“Entrapment” by the IRS resulted in “ruinous penalties” for ordinary Americans

"The Geneva-based international group says that the 2009 OVDP in particular was 'extremely prejudicial to Americans living overseas who sought to become compliant with their taxes due to errors or omissions under the OVDP. Believing they could come back into the system by simply filing the appropriate paperwork and paying any outstanding tax burden, these individuals were later told they would be hit with a standard penalty of 20% of the highest value of their bank accounts over a five-year period.'" Continue reading →

Continue Reading“Entrapment” by the IRS resulted in “ruinous penalties” for ordinary Americans

“Entrapment” by the IRS resulted in “ruinous penalties” for ordinary Americans

"The Geneva-based international group says that the 2009 OVDP in particular was 'extremely prejudicial to Americans living overseas who sought to become compliant with their taxes due to errors or omissions under the OVDP. Believing they could come back into the system by simply filing the appropriate paperwork and paying any outstanding tax burden, these individuals were later told they would be hit with a standard penalty of 20% of the highest value of their bank accounts over a five-year period.'" Continue reading →

Continue Reading“Entrapment” by the IRS resulted in “ruinous penalties” for ordinary Americans

“Entrapment” by the IRS resulted in “ruinous penalties” for ordinary Americans

"The Geneva-based international group says that the 2009 OVDP in particular was 'extremely prejudicial to Americans living overseas who sought to become compliant with their taxes due to errors or omissions under the OVDP. Believing they could come back into the system by simply filing the appropriate paperwork and paying any outstanding tax burden, these individuals were later told they would be hit with a standard penalty of 20% of the highest value of their bank accounts over a five-year period.'" Continue reading →

Continue Reading“Entrapment” by the IRS resulted in “ruinous penalties” for ordinary Americans