Record number of Americans abroad giving up citizenship

Record Number Give Up U.S. Citizenship - Total Return


A record 1,335 Americans living overseas renounced their citizenship in the first three months of 2015, according to the Internal Revenue Service.
That number is 18 percent higher than the previous record, according to Bloomberg. In all of 2014, 3,415 individuals gave up their U.S. citizenship, the second straight year when renouncements hit a new record high.

Record number of Americans abroad giving up citizenship


Record Number Give Up U.S. Citizenship - Total Return

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The number of people giving up their U.S. citizenship continues to grow.
DAVID GOLDMAN/ASSOCIATED PRESS
A record 1,335 people renounced their U.S. citizenship or long-term residency during the first quarter of 2015, according to a list released by the Treasury Department on Thursday.
The total is the highest quarterly number of expatriates since a law requiring the publication of their names was enacted in the 1990s, according to Andrew Mitchel, a lawyer in Centerbrook, Conn., who tallies the lists of names. The previous quarterly record was 1,130 for the second quarter of 2013, he says.
The new figure puts 2015 on pace to exceed the total of  3,415 renunciations in 2014, which was itself a record. That was up 14% from 2,999 individuals in 2013, the previous record.
Experts link the growing number of renunciations by citizens and permanent residents to a tax enforcement campaign against U.S. taxpayers with undeclared offshore accounts.  The campaign began after Swiss banking giant UBS UBSN.EB +1.79% admitted in 2009 that it had encouraged U.S. taxpayers to hide assets in secret Swiss accounts.
But the campaign has made the financial lives of more than seven million Americans living abroad more difficult, because the U.S. taxes nonresident citizens on income earned anywhere in the world, and U.S. tax liabilities can apply to the children born to Americans abroad. In many cases, there are only partial offsets available for double taxation.
For decades, these laws were rarely enforced, but scrutiny of Americans abroad is intensifying because of the Foreign Account Tax Compliance Act, or Fatca, which Congress passed in 2010. The law’s main provisions, which took effect in July, require foreign financial institutions to report income of their U.S. customers to the Internal Revenue Service. More than 140,000 banks and other firms have signed up to comply with Fatca.
A new survey conducted by a Hong Kong-based company that specializes in tax preparation for American expats found that 27% of the 1,840 Americans who responded were “seriously considering” renouncing their U.S. citizenship. That’s a jump from the 18% who said the same thing in the company’s 2014 survey.
Correction: A record 1,335 people renounced their U.S. citizenship or long-term residency during the first quarter of 2015. An earlier version of this post mistakenly said the figure was for the first quarter of 2014. In addition, lawyer Andrew Mitchel’s name was misspelled as Andrew Mitchell.
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Record 1,337 Americans give up their passports

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Record number of Americans abroad giving up citizenship

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A record 1,335 Americans living overseas renounced their citizenship in the first three months of 2015, according to the Internal Revenue Service.
That number is 18 percent higher than the previous record, according to Bloomberg. In all of 2014, 3,415 individuals gave up their U.S. citizenship, the second straight year when renouncements hit a new record high.
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The data only provided the names of Americans giving up their passports, and not their reasons for doing so. But the spike comes as the U.S. government is getting more 
aggressive
 about ensuring that Americans living abroad are unable to hide funds that should be taxed back home.
The 2010 Foreign Account Tax and Compliance Act (FATCA) required foreign banks to report on accounts held by U.S. citizens. Roughly 110 countries and 160,000 financial institutions have agreed to comply with the law, even as the U.S. stands apart from most other nations by taxing income its citizens make while living anywhere in the world.
The Obama administration touts FATCA as the “global standard” in battling tax evasion, but it has come under criticism from some, including many Americans living abroad who argue it is too burdensome.
Furthermore, the U.S. government has reached a number of high-profile settlements with foreign banks, particularly in Switzerland, over their efforts to help Americans hide income in foreign accounts.

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2,761,0372,761,0372015-05-06Chechen Boss Backs Shooting Russian Troops | Texas incident fuels

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fbi and russian fifth column cartoons «Бессмертный полк» прошел по Нью-Йорку American Islamism Rears its Ugly Head  __________________________________________ «Бессмертный полк» прошел по Нью-Йорку  05.05.15 // ...
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Mike Nova's Shared NewsLinks Review   From The Major News Sources » «Бессмертный полк» прошел по Нью-Йорку 07/05/15 00:55 from Mike Nova's Shared Newslinks mikenova shared this story from Russkie.org. В Нью-Йорке сост...
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Second Person Arrested in Connection to Military Attack Plot
KXXV News Channel 25
John Booker Jr ., who was the first person arrested, is accused of planning the suicide car bomb attack in Fort Riley in support of ISIS. He is charged with attempted use of a weapon of mass destruction, attempt to provide material support to ISIS, and ...

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To Win the Oil Contest, Saudis Must First Win in Yemen and Syria

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King Salman is putting all his aspiration to stay on top of the world’s oil market in the Syrian and Yemeni war baskets.

Saudi Arabia and Turkey in league to topple Assad

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US sources report that Saudi Arabia and Turkey are collaborating in a bid to overthrow Syrian ruler Bashar Assad. Officials in both capitals disclosed they had concluded a pact for this purpose, with the Turks giving Syrian rebels intelligence and the Saudis funds for arms. Theyjoined forces, they said, after the US backed out of the campaign to oust Assad because of its rapprochement with Tehran. US sources fear the Saudis and Turks are giving weapons to Al Qaeda’s Syrian arm the Nusra Front. However, DEBKAfile revealed on May 4, that the US, Israel, Turkey, Jordan, Saudi Arabia, Qatar and the UAE had all jumped into bed with al Qaeda to overthrow Assad.

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Page 5

US Senate backs bill giving Congress review of Iran nuclear deal

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The US Senate Thursday night voted 98-1 for a bipartisan bill that would let Congress review any final deal the six world powers approve with Tehran. Under this deal, Iran would be required to roll back its nuclear program in exchange for relief from the sanctions clamped down on its economy. DEBKAfile: The measure, to be voted on in the House next week, is a watered down version of the original bipartisan bill, which would have subjected the accord to congressional approval.

Senior UN official warns of 'widespread and systematic' sexual violence in Syria, Iraq

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Sexual violence is being committed strategically, in a widespread and systematic manner, and with a high-degree of sophistication by most parties to the conflict in Syria and Iraq, the Special Representative of the United Nations Secretary-General on Sexual Violence in Conflict, Zainab Bangura, said today as she briefed journalists on her "scoping mission" to the region in April.

Queens family charged for international cocaine trafficking ...

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A married Malba couple and their son from Woodside were formally booked Wednesday in a federal indictment for operating an international cocaine smuggling ring out of a Corona restaurant and export company. Gregorio and Eleonora ... “ This case is a powerful example of the impact ofinternational cooperation in combatting criminal organizations whose activities transcend national borders,” said Acting U.S. Attorney of the Eastern District of New York Kelly Currie.

Mafia meltdown: FBI busts drug-trafficking mobsters operating out of ... 

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The suspects – members of the notorious 'Ndrangheta mafia group, based in Calabria, Italy – were operating a drug smuggling operation between New York, Italy, and Central America, AP reported on Thursday. It was run from Cucino a ... Previous investigations had established the supremacy of 'Ndrangheta in the international drugs trade. It comes just one month after ... RT.com © Autonomous Nonprofit Organization “TV-Novosti”, 2005–2015. All rights reserved.

Bird Flu Has Already Killed More Than 20 MILLION Turkeys And Chickens In The United States 

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Are you prepared to go without turkey this Thanksgiving?

LAPD Officer Indicted In Federal Court For Trying To Smuggle Mexican Citizen Into U.S. 

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Cop and girlfriend face 10 years in prison and $250,000 fine.
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Page 6

More Evidence Turkey Supports Al Qaeda 

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Turkey funding, arming ISIS in proxy war with Syria.

US-Mexico border braces for summer migrant surge as children risk lives alone 

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Officials say US is better prepared after last year, when 67,339 unaccompanied minors arrived – but ‘every day we’re getting more than the day before’

France Surrenders All To Spy State 

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Government's failure results in citizens loss of liberties.

Defense Secretary Denies Internet Rumors: No Texas Takeover Planned 

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Ash Carter responds to questions on special forces drill.

Obama Is More Hostile Towards The Press Than Any President In History 

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Obama HATES the press.

SurveyMonkey CEO David Goldberg's autopsy results suggest different picture

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Autopsy results offer a different picture about how SurveyMonkey CEO David Goldberg died.
The husband of Facebook Chief Operating Officer Sheryl Sandberg died while on a family vacation in Mexico. Local investigators say it was the result of head trauma after he apparently fell off a treadmill. But CBS News has learned that autopsy results suggest Goldberg had a heart arrhythmia that may have contributed to his death, reports CBSN's Elaine Quijano.
At a private memorial service to honor her husband, David Goldberg, Sandberg told mourners: "Today we will put the love of my life to rest, but only his body...His spirit and soul are still with us."
SurveyMonkey, Goldberg's online survey service, was valued at $2 billion. Together he and Sandberg made up one of Silicon Valley's highest-profile couples.
Hundreds of people gathered at Stanford University to pay their respects Tuesday, including Facebook boss Mark Zuckerberg, former Treasury Secretary Tim Geithner, actor Ben Affleck and director George Lucas.
Singer Bono began the memorial with a rendition of U2's hit song "One."
"Dave Goldberg represented the best of the heart and soul of who we are as an industry," family friend and <a href="http://Salesforce.com" rel="nofollow">Salesforce.com</a> CEO Marc Benioff said.
"Dave was a huge part of everybody's success. And you just have to look at him as an example of an incredibly loving father, an incredibly loyal husband, and he was always there for everybody," he added.
Benioff said this was a "huge loss" for Silicon Valley, and "by far the biggest loss since Steve Jobs."
For Sandberg, it's a loss that is deeply personal.
''Dave was my rock," she said at his memorial. "When I got upset, he stayed calm. When I was worried, he said, 'We'll be OK.'...I sure could use him right about now."
Sandberg also said that as heartbroken as she is, she's grateful for every minute they had. And if someone told her that this day would come just 11 years after they married, she still would have walked down that aisle.
© 2015 CBS Interactive Inc. All Rights Reserved.
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Doctors seen as "complicit" in abuse of military benefits

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CBS News investigates role of doctors in peddling of dubious pain relief and scar creams to veterans

​Justice Department to investigate Baltimore police force

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Probe follows unrest in Baltimore after the death of Freddie Gray, a 25-year-old man who was severely injured in police custody

Iran releases Marshall Islands-flagged cargo ship

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Iran has released a Marshall Islands-flagged cargo ship recently impounded in the Persian Gulf by Iranian forces, Press TV reports.

Finland to Join 100 Plane NATO Exercises in Northern Scandinavia

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Sixteen Finnish fighter jets are set to participate in exercises in northern Scandinavia later this month, Finnish media reported Wednesday.

Russian arms exporter offers its combat systems to Turkish Navy

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Russia's arms exporter Rosoboronexport has offered combat systems of Russian manufacture to the Turkish Navy, the company's chief delegate at the IDEF-2015 weapons show Anatoly Aksyonov has said.

Russian arms exporter reaches several agreements with Turkey at IDEF-2015 arms fair

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Russia's arms exporter Rosoboronexport has reached a number of agreements with the Turkish colleagues at the International Defense Industry Fair IDEF-2015 in Turkey. The work on the agreements will be started in May, the company's delegation head Anatoly Aksyonov told journalists on Thursday.
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Page 8

Obama seeks to halt House bill proposing to split Iraq: Report

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The Obama administration has launched a campaign on Capitol Hill aimed at scrapping a controversial bill that proposes to split Iraq into three separate states, according to a report.

Department of Defense Press Briefing by Secretary Ash Carter and General Martin E. Dempsey in the Pentagon Briefing Room

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Presenters: Secretary of Defense Ash Carter, Joint Chiefs of Staff Chairman General Martin E. Dempsey

Senate Votes for Congressional Iran Review

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The US Senate on Thursday approved a measure that would establish a framework for Congress to examine and potentially vote on any agreement with Iran over its nuclear program.
       

US Military Worries Key Iraqi Refinery Could Fall to Islamic State - Wall Street Journal

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Wall Street Journal

US Military Worries Key Iraqi Refinery Could Fall to Islamic State
Wall Street Journal
Pentagon officials said they are worried that a key Iraqi oil refinery held by Iraqi commandos could fall to Islamic State control in the coming days. For weeks, U.S. military officials have said that control of the refinery outside the northern city ...

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Conspiracy theories flourish over military exercise in Texas - USA TODAY

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TIME

Conspiracy theories flourish over military exercise in Texas
USA TODAY
AUSTIN – To U.S. military officials, the upcoming seven-state military exercise known as Jade Helm 15 is a way to sharpen troops' skills in urban combat and terrorist control. To skeptics in Texas, however, it's a veiled attempt by the government to ... 
Don't Worry, Texas, the Federal Government Isn't Planning a MilitaryTakeoverTIME
Chuck Norris Warns Special Forces Exercise Is a Threat to TexansMilitary.com
Abbott defends keeping eye on Jade Helm military exercisesDallas Morning News
Fox News-ABC Online-Slate Magazine
all 133 news articles »

China's Exports Unexpectedly Fall 6 Percent - New York Times

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Bloomberg

China's Exports Unexpectedly Fall 6 Percent
New York Times
BEIJING — China's exports unexpectedly fell 6.4 percent in April from a year earlier, while imports tumbled by a deeper-than-forecast 16.2 percent, fueling expectations that Beijing will quickly roll out more stimulus to avert a sharper economic slowdown.
China Exports Drop in April, Compounding Pressure on EconomyBloomberg
China's Imports Plunge in New Sign of Economic WeaknessABC News
China exports unexpectedly fall in AprilMarketWatch
Reuters
all 44 news articles »
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Page 9

Listen: David Cameron's Acceptance Speech in Oxfordshire

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by Andre Walker7 May 20157
David Cameron made an acceptance speech at his count in Oxford in which he said he hoped he would continue as Prime Minister. The Tory leader is now believed to be flying to London ahead of the final result.
It is unclear whether he will govern alone or have to form a coalition, but it is now all but certain he will remain in the top job.

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L. TODD WOOD: Let's talk about Russia and its role in World War II - Washington Times


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