January 4

FATCA Ends 2012 with a Whimper, Stumbles into 2013

Proponents of the “Foreign Account Tax Compliance Act (FATCA) – a/k/a “the worst law most Americans have never heard of” – fell short at the end of 2012 on two key indices, further puncturing its air of presumptive inevitability: The Treasury Department had predicted that 17 countries (already a shamelessly padded list, with inclusion in that number of three tiny British Crown Dependencies) would finalize intergovernmental agreements (IGAs) with the United States to impose FATCA on themselves...


- Letter to Treasury Secretary Lew from Congressman Bill Posey

- Letter to Treasury Secretary Geithner from Senators Rand Paul, Jim DeMint, Mike Lee, and Saxby Chambliss