FATCA Reality Check

Victoria Ferauge and Lynne Swanson have another article published in Tax-News.
This is a global tax publication based in the UK.  We wrote FATCA: Reality Check in response to U.S. Treasury’s Myths vs FATCA.

5 thoughts on “FATCA Reality Check

  1. Wow, Ladies, another impressive article. Very, very clear. Anyone who reads this and still doesn’t understand the negative impact of FATCA is willfully closing their eyes to reality. Great work!

  2. Thanks once again, Victoria and Lynne.
    I sent this to Contact Tax-News.com:
    I cannot find any way to add comments, but I can’t let go by my responsibility to thank you for publishing: FATCA Reality Check, contributed by Lynne Swanson and Victoria Ferauge, October 09, 2013.
    This is such an important issue. There needs to be a voice for the approximately 7 million US Persons Abroad as they do not have the numbers, the organization or the money behind them that the FATCA compliance industry does, ramped up to help steamroll people who are absolutely not criminals in its quest to find US tax evaders.
    None of us (most of whom are regular middle-class residents and citizens of other countries and who pay our full taxes to the countries that give us our benefits – with Residence-Based Taxation) are against the purpose of FATCA. We are appalled that the US hangs onto Citizenship-Based Taxation, their cash cow reaping reward with outrageous penalties, not actual taxes owed to the US. That the US will not change to Residence-Based Taxation as that of the rest of the world (save Eritrea and the US) tells the US immoral story of FATCA. The tax evaders the US is looking for actually reside within the borders of the US and send their untaxed funds offshore. It is not rocket science to understand this.
    Thank you for publishing “FATCA Reality Check” by Lynne Swanson and Victoria Ferauge and providing their voice for US Persons Abroad, many of whom do not yet know how they will be affected; i.e. “It can’t possibly affect me; I am not a tax evader.” Education and advocacy for these people is so needed. Thank you for doing your part.
    Calgary, Alberta, Canada

  3. Many thanks Lynne and Victoria. Your efforts are shining much needed light on US CBT and FATCA that the US would prefer remained out of the sight of the ordinary Canadian voter, taxpayer, citizens and residents. The more attention drawn to the wrongs of a FATCA IGA and US extraterritorial tax aggression, the better. It also will comfort those who feel that they have had no voice and no effect on the steamroller that is bearing down towards them.

  4. I have been away for a few days and missed this…Excellent article I put it on my Facebook page. It is well written and I only hope that many will see and pass it on.
    There is a protest against FATCA in Ottawa tomorrow in front of Parliament I won’t be able to attend but hope that others can.
    We must not be silent on this…Let us speak up and unite against this extortion.

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