Go Back  British Expats > Living & Moving Abroad > Rest of the World
Reload this Page >

FATCA - The end of everything

FATCA - The end of everything

Old Oct 15th 2013, 12:59 pm
  #1  
Just Joined
Thread Starter
 
Joined: Oct 2013
Posts: 1
Josht is an unknown quantity at this point
Default FATCA - The end of everything

It seems American authorities decided everything and FATCA will get all US citizens under or even everyone. I'm American but the last five years I live in Europe and I have my own business here. I have to mention that I underpaid US taxes because it's very hard to pay here and there. But with FATCA it will be impossible to avoid paying taxes for gluttonous American economy. I would like to renounce American citizenship but it's not easy because in previous times you can simply throw away your passport and now Washington won't let you go because it needs our money. Big shots from the White House want to rob American expats so they can get $100 billions which we, as they say, concealed. The only person who can renounce US citizenship is that one who is absolutely clean and American government has no interest in that person. The rest businessmen just like me have no chances because we earn much money outside US and American authorities targeted to turn us into cash cows. Even more, American authorities want us to pay every cent they didn't get from us for all these years. Maybe before FACTA being an American citizen was an honorary right but now this is a burden and everyone now can become victim of US illusory legislative system.
Josht is offline  
Old Oct 15th 2013, 1:15 pm
  #2  
BE Forum Addict
 
Joined: Aug 2013
Location: Rochester, New York
Posts: 1,125
hoffage123 has a reputation beyond reputehoffage123 has a reputation beyond reputehoffage123 has a reputation beyond reputehoffage123 has a reputation beyond reputehoffage123 has a reputation beyond reputehoffage123 has a reputation beyond reputehoffage123 has a reputation beyond reputehoffage123 has a reputation beyond reputehoffage123 has a reputation beyond reputehoffage123 has a reputation beyond reputehoffage123 has a reputation beyond repute
Default Re: FATCA - The end of everything

Originally Posted by Josht
It seems American authorities decided everything and FATCA will get all US citizens under or even everyone. I'm American but the last five years I live in Europe and I have my own business here. I have to mention that I underpaid US taxes because it's very hard to pay here and there. But with FATCA it will be impossible to avoid paying taxes for gluttonous American economy. I would like to renounce American citizenship but it's not easy because in previous times you can simply throw away your passport and now Washington won't let you go because it needs our money. Big shots from the White House want to rob American expats so they can get $100 billions which we, as they say, concealed. The only person who can renounce US citizenship is that one who is absolutely clean and American government has no interest in that person. The rest businessmen just like me have no chances because we earn much money outside US and American authorities targeted to turn us into cash cows. Even more, American authorities want us to pay every cent they didn't get from us for all these years. Maybe before FACTA being an American citizen was an honorary right but now this is a burden and everyone now can become victim of US illusory legislative system.
Seriously? You admit that you have avoided paying US taxes because "it is too hard" and you want the rest of us who do meet our filing requirements to have sympathy for you, who earns "lots of money"?

Here is some advice - get your financial house in order, then renounce - then you can complain about it. The system does draw from too wide a net, but that doesn't mean you abdicate your responsibilities. See someone experienced for tax advice if it is too complicated for you to do yourself.
hoffage123 is offline  
Old Mar 17th 2014, 7:14 pm
  #3  
Grumpy Know-it-all
 
Steve_'s Avatar
 
Joined: Jul 2010
Location: Calgary, Alberta
Posts: 8,928
Steve_ has a reputation beyond reputeSteve_ has a reputation beyond reputeSteve_ has a reputation beyond reputeSteve_ has a reputation beyond reputeSteve_ has a reputation beyond reputeSteve_ has a reputation beyond reputeSteve_ has a reputation beyond reputeSteve_ has a reputation beyond reputeSteve_ has a reputation beyond reputeSteve_ has a reputation beyond reputeSteve_ has a reputation beyond repute
Default Re: FATCA - The end of everything

Doesn't sound to me as though you've ever attempted to comply with US reporting obligations because it's not that difficult really. Most people have no tax to pay or only a small sum.
Steve_ is offline  
Old Mar 21st 2014, 2:28 pm
  #4  
Ping-ponger
 
dunroving's Avatar
 
Joined: Jul 2002
Location: Dreich Alba
Posts: 12,001
dunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond reputedunroving has a reputation beyond repute
Default Re: FATCA - The end of everything

Must be some sort of wind-up, surely?
dunroving is offline  
Old Mar 22nd 2014, 12:59 am
  #5  
Senior Moment
 
Mitzyboy's Avatar
 
Joined: Jan 2006
Location: On the edge
Posts: 20,460
Mitzyboy has a reputation beyond reputeMitzyboy has a reputation beyond reputeMitzyboy has a reputation beyond reputeMitzyboy has a reputation beyond reputeMitzyboy has a reputation beyond reputeMitzyboy has a reputation beyond reputeMitzyboy has a reputation beyond reputeMitzyboy has a reputation beyond reputeMitzyboy has a reputation beyond reputeMitzyboy has a reputation beyond reputeMitzyboy has a reputation beyond repute
Default Re: FATCA - The end of everything

Err, the thread is 5 months old from a one off poster
Mitzyboy is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is Off
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service -

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.