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"Same Country Exemption" Put Forward to Treasury

Co-Chairs of the Americans Abroad Caucus: Carolyn Maloney (D-NY) and Mick Mulvaney (R-SC) along with 17 colleagues in the House, wrote on September 15th 2015 to the Secretary of The Treasury Jack Lew and IRS Commissioner John Koskinen requesting that the Treasury Department adopt the recommendation that FATCA exclude from reporting the financial accounts maintained by a financial institution in the country where a US person is a bona fide resident, known as the “Same Country Exemption.”

This is a major show of support by the Americans Abroad Caucus Co-Chairs and their colleagues. ACA thanks the Caucus Co-Chairs and the cosigners for their support and we look forward to the response from Treasury on “Same Country Exemption” a proposal that is also supported by the Taxpayer Advocate.

See letter here (pdf).