# FATCA processing



## papaia

Found here:

"Congress enacted FATCA in 2010, but we have yet to receive any significant funding appropriation for its implementation. This situation is compounded by the fact that when we do detect potential non-compliance or fraudulent behavior through manually generated FATCA reports, we seldom have sufficient funding to pursue the information and ensure proper compliance. We have an acute need for additional personnel with specialized training to follow cross-border money flows."


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## jweihl

Reinforces my belief that useless paperwork is a universal condition


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## Bevdeforges

This is actually the situation for the entire US tax code. Lots of picky little rules and regulations but no money, personnel or idea how to enforce the stuff that affects "overseas taxpayers."


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## dpdapper

Bevdeforges said:


> This is actually the situation for the entire US tax code. Lots of picky little rules and regulations but no money, personnel or idea how to enforce the stuff that affects "overseas taxpayers."


It’s not just overseas taxpayers. Congress (well, Republicans) have been starving the IRS of funds forever. Column: Proof the IRS targets the poor for tax audits while leaving millionaires alone


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## Bevdeforges

Yeah, but the IRS actually audits the poor now and then. Being audited when overseas takes a much higher-visibility infraction and even then, there isn't any real enforcement mechanism.


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