Bits of Knowledge from FATCA Facts

And the “Top 10” list includes …

IRS vs expats

Here’s ten terse comments from various sources on the internet that boil down to……well, you draw your own conclusion. I purposefully do not reference them or reveal the sources. So you can take them, as one should with anything on the internet, with a grain of salt. But just maybe they are really true.

1. It’s not about people not wanting to pay their taxes—it’s about the infuriating difficulty of paying your taxes

2. The additional compliance costs for companies to ensure that Americans they hire are filing the correct U.S. tax returns and asset-declaration forms are $7,000 per person. For individuals, additional accounting costs are about $4,000 per year.

3. The July 1 implementation of FATCA is a reflection of the misunderstanding in Washington what it means to be an average American living and working overseas.

4. Expats giving up their nationality climbed to 1,001 in the three months…

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