Sunday, October 20, 2013

Overtaxed and over there

Overtaxed and over there - The Economist (JEH: Due to the Foreign Account Tax Compliance Act (FATCA) of 2010, which becomes fully effective in 2014, many expatriates -- American citizens living abroad -- are renouncing their US citizenship because complying with FATCA and related laws/regulations has become more burdensome and often expensive, even though they owe no US taxes due to treaties and the higher tax burdens of the countries where they reside.)