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FATCA represents the most egregious example of extra-territorial reach the U.S. has ever attempted. It will turn all the world’s banks into IRS auditors – at their own expense of course...
Some of those affected knew they were supposed to file but, after years of filling in returns showing no taxes owing, they stopped because they saw no point. And many didn't know the IRS...
The Americans have an unusual view of citizenship. Once an American, always an American, even if you left the U.S. the day you were born. The U.S. is the only country that requires its...