The only member of the group who has standing is Daniel Kuettel, a citizen of Switzerland who renounced his U.S. citizenship, and only regarding two counts alleging the heightened reporting requirements of the law deny equal protection to Americans living abroad and that the penalty for failing to file a Foreign Bank Account Report is excessive, Judge Rose said. However, those assertions do not survive a facial challenge, he said.
The public interest is also best served by keeping the FATCA provisions in place, Judge Rose said.
More recently a district court has dismissed the amended complaint of a U.S. citizen living in Saudi Arabia challenging the constitutionality of the Foreign Account Tax Compliance Act (FATCA).
It Is Time to Wake up and Smell the Coffee People
– FATCA Is Here to Stay!
Is This Your Idea of Dealing with
Previously Undeclared Foreign Income?
Contact the Tax Lawyers at
Marini & Associates, P.A.
for a FREE Tax Consultation
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Read more at: Tax Times blog