Levin statement on FATCA implementation

WASHINGTON – Sen. Carl Levin, D-Mich., made the following statement regarding the Foreign Account Tax Compliance Act, which takes effect today:

“Today marks a new era for tax fairness. Starting today, American tax dodgers will find it harder to cheat Uncle Sam by opening secret bank accounts in offshore tax havens. While the battle to tighten FATCA and close its disclosure loopholes will continue, today marks a big win for hard-working, honest Americans who are sick and tired of picking up the tab for tax dodgers hiding money offshore.”

# # #