PikaDaDon
Thunderbolt Them Suckers
Yea I know about the law, it's especially if you work in europe, japan etc, but a place like Mexico, Philippines, China there's ways around it
This law was in place because of thousands of contractors in the M.E (Dubai, Iraq, Afghan, Israel etc), and outsourcing firms (asia) that were working abroad and not claiming because they were technically abroad. They were making 6 figures, and taking home gross. In a way can see the point, but at the same time, its bullshyt because not all of us are making 6 figures overseas.
There are ways to exempt tho, esp if the company has no contract with the U.S or the govt flat out has no 'connection', ei China, NK, Cuba etc.
Are there ways around this also: http://www.treasury.gov/resource-center/tax-policy/treaties/Pages/FATCA.aspx
Every time you open a foreign bank account the IRS has to know about it....even if you're an ex patriate: http://m.freedomworks.org/blog/jborowski/fatca-will-have-devastating-impact-on-american-exp