Since no one has posted officially about this milestone, I thought I would pull it out of some threads for wider attention.
The Treasury announcement that the final regulations have been released has lit up the FATCA Compliance Complex (FCC) Linkedin groups and various tax blogs.
It was reported on at Reuters in the Tax dodge language we have come to expect out of them. Treasury tweaks global tax dodge law one last time
It was more extensively described in an Accounting Today Article Treasury and IRS Amend Final FATCA Regulations
Where this interesting comment was made by an “unnamed Treasury official”
Asked about the increase in citizenship renunciations by Accounting Today, he pointed out that there are a number of reasons why a citizen may decide to renounce their citizenship and expatriate, and there is not necessarily a direct correlation between FATCA and the increase in renunciations in recent years. Continue reading