ACA: “FATCA is bad law on all fronts and should be repealed.” In an April 4, 2012, submission to the leadership of the International Tax Reform Working Group and the Financial Services Tax Reform Working Group of the Committee on...
No April Foolin’! Writing today in the American Banker, e-money researcher and crypto economist Jon Matonis gets dead right what a lot of the conventional “wisdom” gets wrong: FATCA (the “Foreign Account Tax Compliance Act”), is far from a “done...
FATCA “compliance for U.S. credit unions is also not likely to be easy or inexpensive” In an important development in Washington, today Michael S. Edwards, Vice President and Chief Counsel, World Council of Credit Unions, called for repeal of the...
More Trouble for FATCA in China, Hong Kong – and what amounts to a declaration of war from Moscow! Recently the politics of the United States and of the Republican Party got a badly needed shake-up by an old-fashioned filibuster...
FATCA: the “Fear And Total Confusion Act” As noted earlier, FATCA (the Foreign Account Tax Compliance Act) is unenforceable and unviable unless virtually all countries in the world – or at least all the major financial centers – sign on....
Today the U.S. Treasury Department announced it had signed an “intergovernmental agreement” (IGA) for the enforcement of the “U.S. Foreign Account Tax Compliance Act” (FATCA) in Switzerland. The announcement apparently breaks a dry spell for Treasury in its continuing...
If anyone had any guess China would go along with FATCA, forget it. As noted in Risk.net, China has little incentive to comply with FATCA (the Foreign Account Tax Compliance Act) or to sign an intergovernmental agreement (IGA) with the...
I wrote recently about the need to draw a line in the sand on FATCA. Long story short, if current efforts to form an international tax cartel are not halted immediately, we can look forward to a future with...
New videos have been posted of the GMU seminar on FATCA with Jesse Eggert and Jim Jatras. First panel discussion at the George Mason Journal of International Commercial Law's Fall 2012 Symposium on the Foreign Account Tax Compliance Act discussing...
U.S. Treasury official concedes promise of “reciprocity” falls short ‘IGAs’ no protection for firms, subject to cancellation by U.S. at will ABA: “no indication or evidence suggesting that the Treasury conducted the required due diligence for entering into...

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