# Romney and FATCA filings



## Bevdeforges (Nov 16, 2007)

With all the fuss and feathers we've had here in the tax section over those various FATCA forms, I thought it might be "interesting" to see how President-wannabee Mitt Romney handles things.

Romney has just released his 2011 tax filings (well, preliminary versions) and they've been posted online to provide inspiration to us poor folks: http://snsimages.tribune.com/media/acrobat/2012-08/256863520-17151927.pdf
Cheers,
Bev


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## FritzChang (Sep 20, 2012)

Yeah, make sense that Romney would be affected by FATCA.


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## Bevdeforges (Nov 16, 2007)

Except that he hasn't actually released any of the relevant FATCA forms! (And the forms he has released are all preliminary - not ready for filing with the IRS, prepared using "estimates" etc.)
Cheers,
Bev


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## FritzChang (Sep 20, 2012)

Would Romney have had to file FATCA forms? His form 8621 is blank?


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## FritzChang (Sep 20, 2012)

You can see a bit more in depth on his 2010 tax returns.


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## whatshouldido (Oct 19, 2012)

unfortunately, that is why we shouldn't expect any change or any help from Romney if he gets elected; he won't want to look like he is favoring anything "offshore"....


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## Bevdeforges (Nov 16, 2007)

FritzChang said:


> Would Romney have had to file FATCA forms? His form 8621 is blank?


If you google around a bit, it seems like they finally released his "actual" 2011 forms as finalized - and the 8621's are about the only FATCA-like forms he has included. (All with fairly modest numbers.)

I find it very difficult to believe that he wouldn't have to file some of the many "fun" FATCA forms with his various offshore holdings, but it may be that all the offshore stuff flows through his network of family trusts. The trusts are all US based, so no need for HIM to file the really nasty forms. And the Romneys aren't disclosing the trust's tax forms.

OTOH, if Romney is elected, he'll be backing tax changes that help his 1% buddies, many of whom DO have extensive offshore holdings. So, who knows.
Cheers,
Bev


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## whatshouldido (Oct 19, 2012)

Of COURSE all his stuff is stashed in blind trusts and shell companies! He probably has a one-line trust that manages dozens of other things.

Bottom line though, neither Obama nor Romney is going to help citizens offshore get simplified legislation or fair treatment.


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## Bevdeforges (Nov 16, 2007)

whatshouldido said:


> Bottom line though, neither Obama nor Romney is going to help citizens offshore get simplified legislation or fair treatment.


True enough. So what is new? This global taxation of citizens has been going on since the start of the income tax back in the 1920's or so. What bothers me is that the ACA and AARO don't want to "push" the issue - probably due to all the tax attorney members they have. 
Cheers,
Bev


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