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I believe 2008 saw the start of mass enforcement of FBAR/FACTA, stricter requirements on foreign banks to report American accounts, etc. Things got much worse w
by nvarsj 7y ago
I believe 2008 saw the start of mass enforcement of FBAR/FACTA, stricter requirements on foreign banks to report American accounts, etc. Things got much worse with Trump and the Republican congress - with sections 962/965 (transition tax/GILTI tax), and 5471 complexity going through the roof. Anyone with a small business, or any sort of ownership stake, was hit hard by these terribly written laws and their onerous filing requirements. Being an American expat is a giant liability these days, which is sad, because I enjoy being American. Expats will unfortunately never have much of a voice, and I don't expect things to ever improve, only get worse.