The Foreign Account Tax Compliance Act, or FATCA, dubbed by its opponents as ‘the worst law most Americans have never heard of’, has again been hitting international headlines, after America’s Internal Revenue Service (IRS) recently announced that it is...
An unexpected development on the FATCA front.  Congressman Bill Posey, a representative from the state of Florida and member of the House of Representatives Financial Services Committee, has sent a letter to the U.S. Treasury about the promises of...
Treasury Department’s promises of ‘equivalent levels of reciprocal automatic exchange’ will not be approved by Congress. Congressional call for “further delay in FATCA enforcement and a moratorium on negotiating and signing additional IGAs,” pending “substantial modification or, more likely,...
The problem of Internal Revenue Service misbehavior is not confined to its actions in the United States, but extends to its dealings with foreign individuals, institutions and countries. All sovereign nations have just as much right to create their...
(Washington, D.C., Thursday, June 6, 2013) The Center for Freedom and Prosperity, joined by 20 of the country’s largest and most influential free-market, taxpayer protection and grassroots organizations, sent a letter to Senate members urging support for legislation introduced...
How nice to see Canada taking a very hard line with the government or Eritrea and its attempts to impose a diaspora tax on Eritrean citizens now living in Canada. This country really does have a backbone when it...
Last month, I warned that the Foreign Account Tax Compliance Act, an attempt by the U.S. to impose reporting burdens on other countries' banks, would produce blowback for domestic financial institutions. Credit unions, at least, are worried. The powerful Credit...
CUNA: U.S. industry threatened by “extraterritorial diktats of a European FATCA and other FATCA-inspired foreign laws” Following yesterday’s introduction of a bill (S. 887) by Senator Rand Paul (Republican, Kentucky) to repeal burdensome mandates and privacy violations under the “Foreign...
Treasury Department’s Promises of U.S. ‘Reciprocity’ Dead In a major game-changer, Senator Rand Paul (Republican of Kentucky) today introduced a bill to repeal mandates of the “Foreign Account Tax Compliance Act” (FATCA) on financial institutions and individual American citizens as...
Guests: 0:00 – Robert Tracinski, returns to talk about Obama’s plan to dip into your retirement, other taxes and capital controls that are eating away at your money, and more. Plus, he and Andrew discuss why skipping college may be...

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