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OceanHideaway
Joined 2010
Posts: 6876

FBAR/FACTA Survey

10 years ago

https://www.surveymonkey.com/s/DA_FATCA

Democrats Abroad is very pleased to launch the 2014 FATCA Survey, continuing the global research we started in 2012 into the consequences for Americans living abroad of the Foreign Accounts Tax Compliance Act (FATCA). As with the 2012 research, this is an anonymous survey of Americans living all around the world that will collect demographic information and experiences related to FATCA and banking, employment and tax reporting.

We strongly urge you to both take the survey and to distribute it as widely as possible among your networks of overseas Americans. Please send the survey link out to your personal and social networks to help us ensure that this survey reaches as many Americans living outside the U.S. as possible.

Please contact the Democrats Abroad FBAR/FATCA Task Force at any time with questions or comments at: [email protected].

BACKGROUND

As you may know Democrats Abroad has been working since 2011 to reform the Foreign Account Tax Compliance Act (FATCA). FATCA was passed in 2010 to bring an end to illegal tax avoidance by Americans in the US using offshore accounts to hide taxable earnings from the IRS. The law, however, has burdened Americans living abroad – and our financial service providers - with reporting obligations that have made U.S. persons undesirable as customers to some banks and brokerage houses.

We have been discussing the impacts of this important piece of anti-tax evasion legislation with Congress, IRS and U.S. Treasury and outlining our recommended reforms to the regulations implementing the law. We are confident that the regulations can be changed to relieve us and our banks from the obligation to report on the ordinary, every-day accounts we keep in our country of residence.

But we need your help!

In order to fully demonstrate FATCA’s effects on ordinary, law-abiding Americans living outside the U.S. we need you and the Americans abroad you know to take part in our 2014 FATCA Research Project.

Thank you for supporting our efforts to reform FATCA. This survey is essential to our advocacy effort. And so is your vote!

Midterm elections normally have depressed levels of voter participation. A big vote from abroad in November will send a strong message to Congress about the importance of their overseas constituency. We need their help to reform FATCA and we need it urgently.

So after you TAKE THE 2014 FATCA SURVEY, go to VOTEFROMABROAD.ORG to request your ballot for the November midterm elections.

You can follow developments in our advocacy work to Reform FATCA on the FBAR/FATCA page of the DA website. Our July update on our advocacy work has just been published. It provides an explanation of the Same Country Exception, the cornerstone of our advocacy efforts and the mechanism by which Americans living abroad and their banks will be exempted from FATCA reporting of accounts in our countries of residence.

Many thanks again for your support,

Carmelan Polce

Chair

DemsAbroad FBAR/FATCA Task Force

[email protected]

This message is paid for by the Democratic Party Committee Abroad
Democrats Abroad

PO Box 15130
Washington, DC 20003
United States
Telephone: +1-202-621-2085

It is being sent to you because you are a member of one or more of these Democrats Abroad group(s): DA International and Americas.

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