Hooligans Sportsbook

Who is going to be the next President of the United States?

  • Start date •
  • Replies
    3,829 Replies •
  • Views 146,313 Views
Follow
Democrats just lost two votes. My mother just informed me she and my father will be renouncing their US citizenship.
Has nothing to do with Trump but the fact that the US government requires foreign banks to report to them regarding the financial dealings of US citizens abroad.

My mother is irked by the fact that they have to report their Canadian bank balances to the US government and file taxes in the US even though they reside in Canada as Canadian citizens.

Individuals Filing the Report of Foreign Bank and Financial Accounts (FBAR)

bsaefiling.fincen.treas.gov bsaefiling.fincen.treas.gov

"If we don't submit the FBAR form each year, we could be fined between $5,000 and $50,000."

So I suppose the Covid stimulus checks the US govt is sending to citizens will be used to pay the fees to renounce their US citizenship. Apparently the waiting list for appointments at the US consulate in Toronto is 6 months behind.

:usa:
 
tullamore
Land of the free Plommer
Click to expand...
Can you imagine having to report your bank acct balances to the US gov't if living abroad?
The rich have ways of hiding their assets offshore so that Uncle Sammy can't see anything, but the middle class don't have the same options.

My 84yr old dad gets tilted by US Customs/Immigration when he enters the US at Niagara Falls NY and they ask him why he (as a US citizen) lives in Canada.
I know he'd like to tell them to go fuck themselves with the stupid question but he just plays along until they clear the border then rants later.

When I opened my bitcoin exchange accts at Shakepay and Newton I was asked "am I a US person?" as they are obliged to track Americans.
The most recent bank acct I opened asked the same question in a better way - they asked "Am I required to file a tax return in any jurisdiction outside Canada?" Knowing Americans are the only ones required to file worldwide income.
 
You must log in or register to reply here.