Americans living abroad have always been taxed through a form called the FBAR but a new law called the Foreign Accounts Tax Compliance Act (Fatca) will force all banks to report to the IRS in an attempt to recover unpaid taxed on citizens assets overseas. This new law will complicate the tax process and cost substantially most to have a tax return done. This is causing citizens to give up there citizenship and leaving the US entirely. I propose that the tax system on citizens living abroad be changed to be simpler to fill out.
http://www.bbc.co.uk/news/magazine-24135021



