# Fatca



## diamonddee (Dec 20, 2012)

*We Petition the Obama Administration to:
Change US tax law from citizenship based law to residence based law.*
The requirement for all US persons permanently residing outside the US to lodge annual tax returns and other financial reports is an onerous requirement that, and due to international tax treaties, results in minimal tax revenue for the cost to process reports.
Onerous annual reporting requirements are being made even more so by the lack of properly educated and trained local tax preparers. US based tax preparers are not fully versed in all of the various tax laws particular to every country and contacting the IRS or the Department of the Treasury often results in contradictory advice.
Tax revenue would be better maximised by focusing on the over 300,000,000 residents in the US including those with offshore accounts instead of those residing permanently outside the US.

*Dual US/CDN citizens
*US citizens 
*Green Card Holders
*"Accidental Americans"
*snowbirds remaining in the US for 183 days or more* 
All of whom are required to file tax returns (even if no tax is owed) as well as numerous information returns (FBAR, 3520 for TFSA's, RDSP's and RESP's;*8891 for RRSP's, etc). 
*This would NOT be the case if the US would change their tax law to a residence-based system, like the majority of countries in the world. With the impending implementation of FATCA 
(Foreign Account Tax Compliance Act) 
and/or an 
IGA (Intergovernmental Agreement), 
both of which violate the Canadian Charter of Rights and Freedoms 
as well as 
PIPEDA 
(Personal Information Protection and Electronic Documents Act),*
action is needed IMMEDIATELY ! 
Please register at the site and sign this petition!
All that is needed is an email address, a first name, and a last name (Name can be a psuedonym). Postal code is optional. 
We need 25,000 signatures by January 28 in order to require*the Obama Administration to respond.
You may copy & paste the link below. 
Petition at Whitehouse.gov


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## diamonddee (Dec 20, 2012)

This petition is from Americans Abroad, Google them and the website will give you all the information.


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