July 28

‘Unauthorized FATCA “Intergovernmental Agreements” Are Part of Obama’s Executive Overreach’ (Forbes)

It cannot be said too many times: the so-called “intergovernmental agreements” (IGAs) the U.S. Treasury Department is signing with foreign governments as the linchpin of its efforts to enforce FATCA (the “Foreign Account Tax Compliance Act”) are the weak link in the “worst law most Americans have never heard of.” If the IGAs go, FATCA goes. The law is otherwise unenforceable. That’s why the Department is keen to pretend the IGAs – which are not treaties, whatever some foreign governments m...

 

- 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