Goodbye Uncle Sam. FATCA Causing Renunciations

Goodbye Uncle Sam in the Houston Law Review is about how FATCA is causing Americans to renounce citizenship in record numbers.

I have not yet read it in detail, but it appears to be a very comprehensive document.

I especially like this statement on page 3:

in order to slow down the rate of Americans renouncing their citizenship as well as to make life better for U.S. persons living abroad, FATCA needs to be repealed or, at a minimum, drastically amended.

Plus, the author also references our lawsuit on page 29, reporting that:

A group of Canadian citizens has sued the Canadian government challenging its FATCA agreement with the United States. The plaintiffs are angered that the deal requires Canadian financial institutions to give the IRS private information regarding the bank accounts of Americans and their family members living in Canada regardless of wether those family members are American or Canadian nationals…

Thanks to Badger for this great find and for pointing out that articles written by Victoria Ferauge and Lynne Swanson are referenced in the article.

3 thoughts on “Goodbye Uncle Sam. FATCA Causing Renunciations

  1. It was great to see Lynne & Victoria acknowledged!
    And in spite of all the negativity that accompanies any possible good developments, I think we have to stay positive. I know it’s been quoted lots and lots of times but this is indeed, a sprint not a marathon. And we are hearing more and more support from places we would never have dreamed of 3 or 4 years ago.

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