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Republican Party to vote for repeal of U.S. anti-tax dodging law

Posted on by Posted in Issues regarding US persons abroad 38 Comments

Republican Party to vote for repeal of U.S. anti-tax dodging law

Tue, Jan 21 2014

By Patrick Temple-West

WASHINGTON (Reuters) – The Republican Party is expected to approve a resolution this week, calling for repeal of an Obama administration law that is designed to crack down on offshore tax dodging.

http://www.reuters.com/article/2014/01/21/us-usa-tax-fatca-idUSBREA0K1VS20140121

38 thoughts on “Republican Party to vote for repeal of U.S. anti-tax dodging law”

  1. Deckard, “oridinary people just like you”? The reason these people are so livid is because, in all likelihood, they are on the dole of the US Federal government. Thus, they cannot see past the rabid hatred of anyone who would stand in their way of taxing the world.

    That said, a brilliant comment on your part.

  2. @Vote in 2014 U.S. PRIMARY Elections

    Thank you for the synopsis of the regulatory changes that have contributed to the boa constrictor affect of CBT. Will FATCA take our last breath?

    “(I am having to have to do an article on this to justify the time I am spending on it)”. Are you an investigative journalist?

  3. @calgary411
    Thats not just absurd. Thats obscene. It makes no sense whatsoever. I cannot imagine that argument of the IRS going through with a court and judge either. Either you have a legal guardian or you don`t. It is just ridiculous- and it is like the poster child for the insanity of all of it.

  4. Cynthia Dillon ‏@DillonCynthia 30m
    Resolution to repeal FATCA (out of 11other R’s), passed by RNC at General Session #FATCA

    Cythia Dillon is Republicans Abroad Radio host

  5. @Petros

    Ok, perhaps I should have left off the “just like you”, but I was trying to appeal to whatever sense of empathy these misguided homelanders might have left.

    Once again, the law of unintended consequences is at play. I believe that the struggle to educate homelanders about FATCA, CBT and RBT has been inadvertently reset by the Republican initiative, so I’m afraid we’ll have to start all over again with large swaths of the American public – especially with the liberal/Democrat/left faction. We’ll need the patience of Job to get through it, but we really have no choice. Now the goal should be continued INCLUSIVENESS in the discussion to really get people to understand that this is not a left/right, Democrat/Republican issue, but one which affects literally the entire human race – that is how audacious FATCA aspires to be and that is the message we must continually hammer home.

  6. @Wondering,
    I just emailed Charles a long email, outlining in detail all the problems I face personally (a cut and paste of the same email I sent Amber Hildebrandt from CBC who then did a phone interview with me and included it in the article about Calgary), along with links to six recent Canadian media reports, and yesterday’s press release by the NDP. I hope I peek his interest.

  8. CF&P Applauds RNC Resolution Calling For FATCA Repeal

    (Washington, D.C., Friday, January 24, 2014) The Center for Freedom and Prosperity applauds the decision of the Republican National Committee to adopt FATCA repeal as part of its official platform. Since its passage in 2010, the Foreign Account Tax Compliance Act has proven a disaster for Americans living, working and investing overseas, and is a fundamentally wrongheaded approach to tax enforcement.

    Burdens imposed by FATCA have sparked significant opposition throughout world, as foreign institutions are expected to bear the costly burdens of implementing a law that is expected to raise very little revenue – a mere $800 million per year according to the Joint Committee on Taxation’s estimates. Many institutions have responded by dropping American clients, and investment is expected to flee the U.S. in response to FATCA’s stiff withholding penalties.

  9. That’s why I spoke out, Polly, for my son and for many, many, many others.

    From earlier information here:

    I was further advised from the Washington, DC immigration / nationality lawyer that I engaged regarding my son’ status:
    DOS persons he talked with have “sympathy” for such cases. However, the developmentally disabled person will have to have FULL understanding of what he’s doing; if any question of lack of comprehension and grasping meaning and importance of ramifications, they could NOT approve such a case. From DOS point of view, US citizenship is precious and they have therefore established fundamental requirements for “compelling reason”. Even though there is the risk that a person’s financial resources could run out before his/her life was over, they will never approve a renunciation for financial / economic reasons. DOS has NEVER had such a renunciation case approved due to “compelling circumstances”. Bottom line: “compelling reason” in their regulations is not helpful to my son’s case. I could sue – persons he talked with at DOS are SURE no one would ever win such a case as the courts view the discretionary action that DOS has would take precedence.

  10. Republican National Committee takes on FATCA rules

    On January 24, the Republican National Committee (RNC) approved a resolution that would call for the repeal of FATCA. Adoption of the resolution by the RNC gives symbolic comfort to those advocating FATCA repeal, but House Republicans have not indicated they are contemplating considering such legislation – FATCA repeal was not included on the list of near-term legislative priorities that House Majority Leader Eric Cantor, R-Va., circulated to GOP House members earlier this month – and the issue is not expected to be taken up in the Democratic-controlled Senate.

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