[This post is the first in a series discussing the Foreign Account Tax Compliance Act (FATCA) and its impact upon foreign investment and development in South Florida and the United States as well as efforts both locally and in other countries to stop FATCA.]
The Foreign Account Tax Compliance Act (FATCA) was passed by Congress in 2010 and will become effective in 2013 -- unless its critics win their fight to kill FATCA in the meantime. And there are many groups and individuals that want FATCA stopped -- many of them are foreign investors and international real estate developers here in South Florida, along with other local CPAs, bankers, and businesspeople.
Please see full article below for more information.
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