Join us as we discuss the US policy of taxing worldwide income, repatriation of offshore balances, and the Foreign Account Tax Compliance Act (FATCA).
Over lunch (which is included in the ticket price) we will look at how U.S. tax policy affects business activity and planning.We will also look at issues related to repatriation of income earned overseas and the use of overseas accounts to avoid U.S. taxation. Should the U.S. crack down on tax evaders or is the U.S. tax system overreaching?
Part 1 Foreign Account Tax Compliance Act (FATCA)
Pre-reading (appx. 18 pages total):
Foreign Account Tax Compliance Act, IRS (1 page)
FATCA Frequently Asked Questions (FAQs), Deloitte, Q&A Numbers: 1-4, 13-17, 23-26, 31, 32, 35, 36, 39-42, 47-50, 62-64 (5-6 pages)
Americans Are Unwanted Worldwide (At Least By Banks), Robert W. Wood, Forbes, 01/01/14 (1 page) http://www.forbes.com/sites/robertwood/2014/01/01/americans-are-unwanted-worldwide-at-least-by-banks/
Soon to be released 'Common Reporting Standard' promises new FATCA-type obligations around the world, PWC Tax Insights from Global Information Reporting, January 9, 2014 (READ pages 1-2 only)
Why FATCA is Bad for America, American Citizens Abroad, 08/09/2013 (6 pages)
Call for FATCA Repeal Could Gain Momentum, CUNA, 01/02/14 (1 page)
FATCA Repeal? Get with the Program!, Bloomberg BNA, Edward Tanenbaum, 06/07/13 ( 1 page)