Heritage Foundation publishes article in support of repealing FATCA

by Patrick Tyrell, The Daily Signal

October 13, 2017

If you’re an American living overseas, Uncle Sam is making life hard for you—and he’s probably giving your bank a headache, too.

For one, the U.S. government often taxes the earnings you make outside the U.S., meaning you can be double-taxed—both by the U.S. and by your host country. But even if you don’t owe U.S. taxes, reporting your foreign earnings to the IRS can be expensive and complicated.

In addition to that, if you live overseas, your bank is probably quite annoyed at you and has an incentive to stop doing business with you.  Read more here. 

Plaintiffs in FATCA Challenge Seek En Banc Rehearing

Plaintiffs in Crawford, et al. vs. US Department of Treasury, et al. have filed a filed a Petition for En Banc Rehearing in their fight against the Foreign Account Tax Compliance Act (“FATCA”) and related provisions after the Sixth Circuit affirmed the lower district court’s ruling that none of the plaintiffs had standing, i.e., sufficient harm to bring a challenge.

For a complete analysis of the reasoning behind the filing, please read the entire document here.

Memo detailing grounds for challenging 6th Circuit Court’s Opinion

James Bopp, Jr. (lead lawyer for the Plaintiffs) and Richard E. Coleson have drafted a memo to analyze the 6th Circuit Court’s decision could and to highlight where the 6th Circuit Court made mistakes in its decision.

Read the memo here.

Republicans Overseas vows to take FATCA battle ‘to Supreme Court’

By: Helen Burggraf | 22 Aug 2017 | International Investment

‘An anti-FATCA lobbying group led by key US Republican Party members has vowed to take its fight against the Foreign Account Tax Compliance Act to the Supreme Court, in the wake of a US Court of Appeals decision, handed down on Saturday, that affirmed a lower district-court ruling dismissing a legal attempt to derail the legislation. 

In a statement on its website, the Republican Overseas Action group said it intends to continue its campaign against the law, arguing that it is causing “real harm” to overseas Americans – contrary, they say, to what the court said in its ruling.

The Court of Appeals ruling found that the plaintiffs – who included Kentucky Republican senator Rand Paul, who has been campaigning against FATCA almost since it was signed into law in 2010 by President Obama – lacked the standing to sue, and that the harms they claimed to have suffered as a result of the law were not, in fact, directly caused by it.’ ….

Read the rest of the full article here. 

 

RO will appeal 6th Circuit Court opinion to the U.S. Supreme Court

The 6th Circuit Court handed down its ruling on August 19, 2017 and found that the Plaintiffs were not suffering any harm as  a result of FATCA, and were in no threat of prosecution for not filing FBAR and FATCA forms,  and therefore, had no standing to bring the lawsuit.

Republicans Overseas will appeal this decision to the US Supreme Court.

Read the ruling here.

Read the press release here.

James Bopp, Jr. responds to Rep. Meadows’ request for 3 ways to reform FATCA

James Bopp, Jr., lead litigator for Republicans Overseas’ repeal FATCA lawsuit, responded to Representative Mark Meadows’ request for each of the witnesses at the Unintended Consequences of FATCA  Hearing (held April 26, 2017) to provide three ways to reform the existing FATCA law.

Read Mr. Bopp’s response below.

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Watch the FATCA Post-Hearing Press Conference

Credit Unions inside and outside the US are against FATCA

IRS Medic’s interview with Michael Edwards of the World Council of Credit Unions reveals that both international and domestic credit unions want FATCA  repealed.
And at 14:22 we hear more evidence why the Same Country Exception (SCE) is a waste of time. There are already two exemptions which should protect Americans from the disastrous impacts of FATCA. Foreign banks simply ignore them! Why would an OPTIONAL SCE help anyone?

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15 Things FATCA Architect Elise Bean gets wrong about FATCA and Expats

Click here to watch a short video about the 15 things that FATCA Architect Elise Bean gets wrong about FATCA and Expats.

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7 Reasons why Same Country Exception to FATCA is useless

Please watch the following short video for seven reasons why the proposed Same Country Exception to FATCA is useless.

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