On Thursday, November 8, 2012 we posted U.S. Engaging with More than 50 Jurisdictions to Curtail Offshore Tax Evasion.
Yesterday November 14, 2012, Treasury published the Model Intergovernmental Agreement for Cooperation to Facilitate the Implementation of FATCA (Model 2 Agreement to Implement FATCA).
The Treasury Department and the IRS will finalize the regulations implementing
FATCA in the near term.
FATCA Problems??? Have a Foreign Bank Account???
Contact the Tax Lawyers at Marini& Associates, P.A. for a FREE Tax Consultation at: www.TaxAid.us orwww.TaxLaw.msor Toll Free at 888-8TaxAid (888 882-9243).
FATCA Problems??? Have a Foreign Bank Account???
Contact the Tax Lawyers at Marini& Associates, P.A. for a FREE Tax Consultation at: www.TaxAid.us orwww.TaxLaw.msor Toll Free at 888-8TaxAid (888 882-9243).
• Group: FATCA Foreign Account Tax Compliance Act
ReplyDelete• Discussion: U.S. Treasury Release Second Model Intergovernmental Agreement
So, basically, this is the other “take it or leave it” model of IGA surrender of a countries sovereignty to the will of the International Revenue Service and their Congressional enablers
.
Trust you saw this on the Canadian News Wire.
http://www.digitaljournal.com/pr/928803
When are some FFIs and governments going to stop the capitulation to this fiasco. We don’t need a world wide Tax Data exchange, to deal with offshore tax evasion. FATCA is all about GATCA, and make no mistake about it.
Someone else is beginning to understand the BIGGER GATCA story…
http://www.iexpats.com/2012/11/fatca-digging-out-facts-about-the-global-tax-network/
Also, I took the opportunity of Robert Woods Post on IGAs to paint the FATCA-DATCA-GATCA story in comments.
http://www.forbes.com/sites/robertwood/2012/11/13/u-s-is-doing-fatca-deals-with-50-countries/
Wake up guys, and show some back bone. Maybe everyone here thinks it is a GREAT idea, but what is really sad, is how something this massive with world wide impacts and consequences is happening off the radar of journalist around the world.
There isn't 1 in a 1000 in America who have ever heard of FATCA as this freight train rumbles along.
The IRS is really working hard to make FATCA seem inevitable, and cement it into place before the masses of the world, and poor unsuspecting US Persons living around the globe figure out they have become collateral damage of a world wide carpet bombing campaign. Got to hand it to the FATCANATICs. Hope this isn't an aircraft carrier 'W' "Mission Accomplished" moment!
Posted by Marvin Van Horn