The argument in favour of the US’s citizenship based tax system has long been that citizens benefit from having an American passport, even if they don’t live in the United States. But for many expats, FATCA is tipping the balance … Continue reading
I wrote the other day about an article in the New York Times that was critical of FATCA. One reader let me know that the article may have hinted at more going on…
While author Richard Rahn is making this a partisan issue by placing the blame squarely on Democrat shoulders and calling it an effort in “wealth redistribution,” he does write a refreshingly raw piece that does a good job of expressing … Continue reading
In interacting with US expats around the world, the single greatest complaint I hear coming from the UK is that their government is doing little to support them.
If you follow the comments on this site, you may be familiar with Cafreeb. Like many US citizens living in Canada, she is very concerned about FATCA and the privacy concerns of FBAR, and she has created a BlogTalk show … Continue reading
Barrie McKenna has an article up that provides a good overview of the FATCA situation and some of its unintended consequences.
I wrote yesterday about banks starting to pull their investments out of US markets in response to FATCA. Many banks are already refusing to deal with Americans entirely.