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FATCA Implemented, 
But Vulnerable In The 
Long Run 
Freeman Tax Law 
(855)935-5945
Treasury Department Promising To Go Easy? 
FATCA has been implemented, but it is not strong many 
groups still harboring s...
Intergovermental Agreements 
Before the implementation of FATCA there was a surge of countries entering 
into intergovernm...
Intergovermental Agreements (Continued) 
There are open legal questions by opponents 
of FATCA if the unilateral IGAs viol...
Increased Complexity 
Despite the added complexity that FATCA has brought 
to numerous financial intuitions and tax payers...
Locations 
International Locations: 
Geneva, Switzerland 
Basel, Switzerland 
Bern, Switzerland 
Zurich, Swizterland 
San ...
Freeman Tax Law 
About Freeman Tax Law 
Freeman Tax Law is a boutique tax law firm with national exposure equipped to 
han...
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Fatca implemented but vulnerable in the long run

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Freeman Tax Law can help you with all your Foreign Account, FATCA, OVDP needs.

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Fatca implemented but vulnerable in the long run

  1. 1. FATCA Implemented, But Vulnerable In The Long Run Freeman Tax Law (855)935-5945
  2. 2. Treasury Department Promising To Go Easy? FATCA has been implemented, but it is not strong many groups still harboring strong political and legal animosity. FATCA is now legally in force, but the Treasury department is promising "to go easy" on enforcement for the first two years since delays and high costs leave many areas of the world still unable to fully comply with FATCA. FATCA has greatly increased global concern over the use of foreign accounts to evade government taxation, yet there is still conversation as to whether this is the correct solution to solve the problem or if it will just cause more damage to the United States and innocent, tax abiding Americans. Freeman Tax Law  (855) 935-5945  info@freemantaxlaw.com  www.freemantaxlaw.com
  3. 3. Intergovermental Agreements Before the implementation of FATCA there was a surge of countries entering into intergovernmental agreements (IGAs). Each country reached their own agreement with the Treasury. A huge benefit for countries is that they are now able to monitor their own citizen’s financial activities around the world and generate additional revenue. Both France and the UK have implemented their own laws to hinder hiding financial assets outside of their own countries. Freeman Tax Law  (855) 935-5945  info@freemantaxlaw.com  www.freemantaxlaw.com
  4. 4. Intergovermental Agreements (Continued) There are open legal questions by opponents of FATCA if the unilateral IGAs violate the Senate's treaty power, if FATCA's excessive penalties violate the 8th Amendment, and if privacy protected by the 4th Amendment has been violated. Still, FATCA has raised global concern and the FATCA empire will not crumble easily with global support. Freeman Tax Law  (855) 935-5945  info@freemantaxlaw.com  www.freemantaxlaw.com
  5. 5. Increased Complexity Despite the added complexity that FATCA has brought to numerous financial intuitions and tax payers, FATCA continues to roll forward. Similar to the continued fight of the war on drugs, there will always be individuals that attempt to circumvent the law to pursue their own agenda. Unfortunately, for those that have undisclosed assets outside their own countries and the financial institutions that are burdened by the cost of compliance, FATCA and the similar laws implemented by other countries are here to stay. Freeman Tax Law  (855) 935-5945  info@freemantaxlaw.com  www.freemantaxlaw.com
  6. 6. Locations International Locations: Geneva, Switzerland Basel, Switzerland Bern, Switzerland Zurich, Swizterland San Antonio, Texas Houston, Texas Dallas, Texas Austin, Texas Charlotte, North Carolina Boston, Massachusetts Atlanta, Georgia Tampa, Florida Washington DC Denver, Colorado San Jose, California San Diego, California Pleasanton, California Irvine, California Cleveland, Ohio New York, New York Las Vegas, Nevada Short Hills, New Jersey Birmingham, Michigan Chicago, Illinois Miami, Florida Greenwich, Connecticut San Francisco, California Palo Alto, California Los Angeles, California Phoenix, Arizona Freeman Tax Law  (855) 935-5945  info@freemantaxlaw.com  www.freemantaxlaw.com
  7. 7. Freeman Tax Law About Freeman Tax Law Freeman Tax Law is a boutique tax law firm with national exposure equipped to handle all domestic and international tax law matters. At Freeman Tax Law, the attorneys and professional staff have vast experience with foreign tax compliance, international tax planning, and resolving tax controversies involving offshore banking matters. Freeman Tax Law helps taxpayers and foreign entities become in compliance with laws such as Foreign Account Tax Compliance Act (FATCA) and Offshore Voluntary Disclosure Program (OVDP). In addition to handling complex tax controversies, the Freeman Tax Law team has extensive expertise in assisting clients with wealth management and estate planning. Freeman Tax Law (855) 935-5945 info@freemantaxlaw.com www.freemantaxlaw.com

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