March 20 Roundup: News and Commentary on the Approaching FATCA ‘Train Wreck’

This bulletin rounds up some important news and commentary from around the world on the looming July 1, 2014, “train wreck” of the “Foreign Account Tax Compliance Act” (FATCA). The headlines: Even Tax Compliance Experts Decry Looming “Train Wreck,” Impossibility of Meeting IRS’s Requirements. Treasury (Inadvertently) Admits FATCA is a “Fishing Expedition.” Lack of “Reciprocity” Fatally Undermines Both FATCA and OECD “Information Exchange.” Rob Portman (Ohio): Big Pickup ...


- 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