Learn About FATCA … The IRS Goes Global

FATCA: Most Important Law (You’ve Never Heard Of)

 

 

 

” FATCA is a crazy law that the United States Congress has decided to impose on the entire world. It comes into force in 2014. Basically we’re building a worldwide empire subject to the Internal Revenue Service (IRS). This video cuts through the BS and explains the law in the simplest terms possible.

  200 years from now, when people look back and wonder how the US shifted from being a source of hope to being one of history’s shitty little empires, the implementation of this law may be one of the things they point to… just watch the video to learn the truth.”

 

This is a great post from The Hammer Of Truth . Visit them .

 

 

 

 

 

 

 

 

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Why Are Americans Giving Up Their Citizenship?

Goodbye, US Passport

 

 

 

” That’s not a concept that Americans contemplate lightly. But it’s one that many of them seem to be considering – and acting on.

The number of expatriates renouncing their US citizenship surged in the second quarter of 2013, compared with the same period the year before – 1,131 cases to 189 in 2012. It’s still a small proportion of the estimated six million Americans abroad, but it’s a significant rise.

The list is compiled by the Federal Register and while no reasons are given, the big looming factor seems to be tax.

A new law called the Foreign Accounts Tax Compliance Act (Fatca) will, from 1 July next year, require all financial institutions around the world to report directly to the US Internal Revenue Service (IRS) all the assets and incomes of any US citizens with $50,000 (£31,000) on their books. The US could withhold 30% of dividends and interest payments due to the banks that don’t comply.

It’s an attempt by the US authorities to recover an estimated $100bn a year in unpaid taxes on US citizens’ assets overseas. Unlike other countries, Americans are taxed not only as residents of the US but also as citizens, wherever they live.”

 

 

 

 

 

 

 

 

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