SOURCELive Trading News
By Paul Ebeling Prominent US Lawmakers Urge President Trump to Repeal FATCA Rep. Mark Meadows and Sen. Rand Paul have sent a letter to Treasury Secretary Steven Mnuchin and OMB Director Mick Mulvaney urging President Trump take action to “mitigate the...
SOURCECBC News
By Elizabeth Thompson An agreement that has resulted in hundreds of thousands of Canadian banking records being sent to the U.S. Internal Revenue Service could violate the U.S. constitution, a congressional subcommittee heard Wednesday. Testifying before a subcommittee of the House Committee...
SOURCEAmericans for Tax Reform
After more than 30 years, comprehensive, pro-growth tax reform may finally be signed into law in 2017. This is an opportunity to cut taxes for American families and businesses across the board, enact an internationally competitive system for businesses,...
SOURCENewsmax
By Mark Cohen On April 26, the House Ways and Means Committee will hold a hearing on legislation to repeal FATCA. While not widely known in the United States, this legislation places an unprecedented burden on Americans living abroad by...
SOURCEiExpats
By Lisa Smith The Foreign Account Tax Compliance Act (FATCA) is a failure and has not generated enough cash to run the government for more than 30 minutes, campaigners against the tax have claimed. Instead of boosting treasury revenues by the...
SOURCENewsmax
More than 1.5 million U.S. citizens living in East Asia are now facing a “gut-wrenching decision” of renouncing their U.S. citizenship due to the Foreign Account Tax Compliance Act (FATCA), America’s highly controversial global tax law, a new survey...
SOURCECompetitive Enterprise Institute
America is the only major country in the world to have an extraterritorial tax system, demanding its expatriate citizens pay tax on their foreign earnings. For many years this rule was obeyed more in the breach than the observance, but...
SOURCEThe Heartland Institute
By Jeff Reynolds A bill before Congress would roll back regulations requiring banks in other countries to report to the Internal Revenue Service on U.S. citizens’ assets held abroad. A bill before Congress would roll back regulations requiring banks in other...
SOURCENewsmax
By F Mcguire Rep. Mark Meadows and Sen. Rand Paul have sent a letter to Treasury Secretary Steven Mnuchin and OMB Director Mick Mulvaney urging President Trump take action to “mitigate the ongoing damage” caused by the Foreign Account Tax Compliance...
The Foreign Account Tax Compliance Act (FATCA) imposed a worldwide financial disclosure information regime on every financial institution in the world, it is an international nightmare. There are several major problems with FATCA which are widely discussed and debated. FATCA was...

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