“If you’ve never heard of FATCA, I don’t blame you. Few people have, and even fewer fully grasp what it really means… Now that FATCA has become a fait accompli, the foundation has been laid for GATCA. In the end, this means a permanent record of every penny you have ever earned, saved, borrowed, or spent anywhere in the world will be available in an instant to be analyzed and scrutinized.” – Casey Research, International Man
You must have heard about the recent Panama Paper leaks which by far is the largest leak of its kind, releasing more than 11 million documents containing transactions for the last 40 years. The Panama based company, Mossack Fonseca, helped the global elite in establishing more than 214,000 shell companies (See Figure 1) to evade tax and lauder money. However, this massive leak exposed only a small part of the tax evasion industry (which…
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U.S. Persons Abroad - Members of a Unique Tax, Form and Penalty Club 