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FATCA: We Are Not Myths

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A junior college professor in Israel.

A carpenter in Madagascar.

A nurse in Tanzania.

A taxi driver in Canada.

A journalist in Lebanon.

A U.S. military veteran in Switzerland.

A retired gay couple in Australia.

A bar owner in Thailand.

A stay at home mother in Belgium.

Seniors around the world who have lived for decades or even their entire lives as citizens of other countries.

Millions of others leading honest, productive lives in other countries.

Some "Myths" Are Renouncing US Citizenship

These "myths" were the best international goodwill ambassadors United States could possibly have. Instead, IRS, Treasury and Congress alienated them and turned them into bad-will ambassadors with an increasing number renouncing once-cherished American citizenship.

Some consulates have a year long waiting list. Some are no longer accepting appointments to confirm a long-ago relinquishment or for renunciations.

Why are so many renouncing or trying to renounce?  Because banks are closing legal accounts and treating U.S. Persons as pariahs due to FATCA simply because these "myths" were born in United States. Because these "myths" seek to protect the personal financial privacy of their spouses, partners and children. Because these "myths" need normal financial lives where they live, work and earn an income.

To be very clear Americans abroad are not turning in their passports to evade taxes. They pay taxes in the countries where they live, and where many are citizens.

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Lynne Swanson is a retired human resources manager, writer and blogger. Born and raised in Pennsylvania, she has been a Canadian citizen for 40 years.
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