UPDATED WED APRIL 26
videos are posted at youtube
ONLY PLACE TO GET AUDIO FEED AT THIS LINK
As Ms. Bean testifies to the insignificance of #Americansabroad, Dani’s uniform and passport are to her right. Yes, those of us abroad, only 4300 renouncing vs 730,000 coming in, simply do not matter. Noticeable large errors regarding foreign countries supposedly taxing their citizens when they leave (that is not what CRS is); not getting it clear that OVDI is the source of the collection, starting in 2009, before FATCA was even signed; US banks do not like FATCA, they don’t want to report like foreign banks required. Maybe someone should explain to Ms. Bean that Hillary was the shield of the other 47,500 that were not turned over.
Before adjourning, Mr. Meadows has asked each witness to come up with 3 ways revisions could be made that would address the issues heard about today. While we all want FATCA repealed, maybe for the sake of compromise, we could at least try the same……………….
Updates April 25, 2017!!
TESTIMONIES OF WITNESSES FOR TOMORROW’S HEARING ARE HERE
REVIEWING THE UNINTENDED CONSEQUENCES OF THE FOREIGN ACCOUNT TAX COMPLIANCE ACT
Subcommittee on Government Operations
SUBCOMMITTEE ON GOVERNMENT OPERATIONS
HEARING DATE: APRIL 26, 2017 2:00 PM 2154 RHOB
To examine the effects of the Foreign Account Tax Compliance Act (FATCA) on the U.S. and international economy, as well as potential legislative remedies.
Signed into law in 2010, FATCA requires non-U.S. financial institutions to report assets and identities of U.S. citizens with non-U.S. financial accounts to the Internal Revenue Service.
As a result, many foreign banks have stopped serving U.S. citizens, and record numbers of Americans have renounced their citizenship.
Senator Rand Paul (R-KY) and five expatriates filed a lawsuit claiming FATCA constitutes an unconstitutional breach of privacy, as well as an illegal treaty
WITNESSES AND TESTIMONIES
Name Title Organization Panel Document
The Honorable Rand PaulU.S. Senator State of Kentucky
Mr. James Bopp, Jr. Attorney The Bopp Law Firm, PC
Mr. Mark Crawford Director AKSIONER International Security Brokerage
Mr. Daniel Kuettel Former U.S. citizen living in Switzerland who renounced his U.S. citizenship due to FATCA
Ms. Elise Bean Washington Co-Director Levin Center at Wayne Law Wayne State University