CHANGE: New Law Assumes Americans Abroad Are Tax Criminals, Imposes Billions in Compliance Costs on Foreign Banks. “The IRS, under pressure from angry and confused financial officials abroad, has extended the deadline for registration until June 30, 2013, and is struggling to provide more detailed guidance by the end of this year. But beginning in 2012, many American expatriates — already the only developed-nation citizens subject to double taxation from their home government — must furnish the I.R.S. with detailed personal information on their overseas assets.”
Perhaps we need to harmonize our customs with other nations’. Isn’t it “arrogant” and “inconsiderate” for us to be so far “outside the mainstream” of civilized practice? Or does that only apply to things like capital punishment?