March 15, 2011 - Phil Hodgen

Second- and third-order consequences of the IRS crusade

From a correspondent (thanks D) comes a link to an article in about U.S. citizens, banking difficulties, and the increasing popularity of expatriation.

The article recites anecdotal evidence of increasing difficulties faced by U.S. citizens attempting to open bank accounts abroad. (Hey! Let’s push people out of the banking system and into the cash economy!)

The article also notes the delays in obtaining appointments at the U.S. Embassy in Berne for expatriation–as long as 15 months. (Hint: use the U.S. Consulate in Frankfurt, people!)

This article reports events that mirror the experiences of our clients–banking is getting more difficult for Americans abroad, and U.S. citizenship is increasingly disposable.

I have talked to many people living in the United States about the IRS, the Voluntary Disclosure Program, and people who turn in their passports. I report these facts. They stare at me as if I am a talking fish on wheels.

Americans Living Abroad Expatriation