3 ms·
The additional tax paperwork/filing burden and the fact that very few banks overseas will open a bank account for a US citizen (due to FATCA) are still not wort
by brobinson 10y ago
The additional tax paperwork/filing burden and the fact that very few banks overseas will open a bank account for a US citizen (due to FATCA) are still not worth it for a lot of people.
- danjayh 10y agoHad no idea about FATCA. Absolutely insane government overstep. To impose such a costly burden on financial institutions worldwide, to make Americans a liability to those host countries, and all for such little gain ... it boggles the mind. And the fact that it's been in place for 6 years - the Obama administration must have started planning it almost as soon as they came to power, and they've had so much time to see the inefficiency of it and the negative effects, and still they haven't made a move to reverse it. Totally nuts.
- eru 10y agoPlanning might have started in the previous administration.