Interesting New York Times article by Brian Knowlton which includes the following quote:
The growing pressures on American expatriates stem largely from two events: the Sept. 11 terrorist attacks, which led to new United States Treasury Department regulations aimed at cracking down on money laundering and on the use of the international banking system by terrorist groups; and the financial crisis of recent years, which similarly brought a crackdown on Americans exploiting banking secrecy in countries like Switzerland to avoid paying taxes.
But as a result, and with the Internal Revenue Service devoting substantially more resources to its overseas operations than before, many ordinary expatriates say tax filing has become onerous and many banks are wary of doing business with them.
Presidential Commission Sought on U.S. Expatriates nyti.ms/ODgMj5 – Thanks Brian Knowlton – #FATCA #FBAR #OFFSHORE #americansabroad
— U.S. Citizen Abroad (@USCitizenAbroad) July 31, 2012
