261–270 of 411 posts
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Not sure if you are aware of this or not but Form 8938 is different from FBAR. FBAR is filed with the department of the treasury and the threshold is only $10,000.
Yes, form 8938 is for FATCA. I'm addressing the parent comment regarding filing for FATCA. I guess the parent had FBAR and FATCA confused.
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When the most recent war broke out in Yemen, the Indian govt managed to evacuate its citizens from Yemen using their navy and if you take into account the size of the Indian diaspora in the Arabian Peninsula including Yemen, it wasn't an easy feat and I can't imagine that the USG wouldn't be capable of carrying out a similar evacuation plan or doing what it could to get their citizens out of harm's way abroad.
I highly doubt there are many Indians in Yemen. It's a poor country and doesn't have many migrant labourers like the UAE or Bahrain do. Also the Americans I knew seemed to expect helicopters to come pick them up and all that. Saying to your citizens they need to get out and we've got a navy ship in port that you can get on if you want isn't really evacuating your citizens.
Also, a naval vessel absolutely qualifies as evacuating your citizens.
I am an American living in Prague and will be among those to give up their citizenship. The new FBAR requirements and the recently pushed through changes that require foreign banks to report are really a huge burden. It is a significant legal risk to be an American overseas. The fines are insane for failiure to report, even if you owe no taxes! You can easilly land yourself with a $20 000 - $80 000 fine for having a…
Army coming to rescue? Nope. Here's a story about the US specifically NOT going to rescue Americans in Yemen: http://www.bloombergview.com/articles/2015-04-22/americans-t... Have a look at this evacuation application: http://www.state.gov/documents/organization/211837.pdf Here's the key wording: "3. I understand that: (a) I will be billed for the cost of my/our transportation no greater than the amount of a full-fare…
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> There are some benefits to being a US citizen, like that the army will rescue you if there is a civil war This is a common myth. If you don't intend to return to the USA there are no benefits to US citizenship, only downsides. The US may or may not rescue you if there's a civil war (see the fate of people in Yemen), but if they do, they will charge you for it at military rates you almost certainly cannot afford: ht…
So, the US spends hundreds of billions of dollars a year on the military, but can't rely on it to protect its citizens to the degree that the Indian military (with a budget less than 1/10 of the US military's) protects its citizens? Sounds about right.
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My dad was evacuated from Yemen by the military when the civil war there broke out. That blue passport was his ticket out of a country that was rapidly disintegrating. He was not charged anything for that. So they don't always charge you (indeed I've never heard of it).
http://www.latimes.com/world/middleeast/la-fg-yemen-us-citiz... http://www.flyertalk.com/forum/16061379-post8.html
I am British, and am married to an american. My wife moved to the UK and has never worked since. I had no idea about her obligation to file anything. She's been here for over a decade. Like a lot of people we use a joint bank account. My salary, and anything else goes in there. A couple of years ago I sold my flat in central London, and had 400K (600K USD) in there at various points. I have no idea how to bring my wi…
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> We're normal people who are being massively screwed by rhetoric in the US. Yup. Same goes for normal people who move the other way. The anti-foreign(er) consensus in the US political system/debate is almost as bad as the "tough on crime" madness. And of course that's reflected in what people think. I remember being in a discussion after an interesting EE380 session (so not exactly bottom of the pile) and one of the…
>I mentioned I was on an H1B and that what he said was illegal The problem is that some companies break the law by playing around with job descriptions and job duties. There are people who aren't against immigration but who are against the H1B visas.
And of course the knee-jerk reaction is to make the laws even more draconian than they already are, when a significant portion of the problems are caused by the very draconian nature of the current laws (and non-enforcement against companies that flout them).
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yes, movies like Tears of the sun. considering the number of US citizens, they are all over planet and it's a rather unreasonable expectation. generally US citizenship meant much more in the past than it means now since there are more interesting places to live (albeit in long term US might still prove as best spot... or not).
When the most recent war broke out in Yemen, the Indian govt managed to evacuate its citizens from Yemen using their navy and if you take into account the size of the Indian diaspora in the Arabian Peninsula including Yemen, it wasn't an easy feat and I can't imagine that the USG wouldn't be capable of carrying out a similar evacuation plan or doing what it could to get their citizens out of harm's way abroad.