As noted in our September update, a lawsuit challenging the constitutionality of FATCA is working its way through the courts. Yesterday the judge ruled on the plaintiffs’ request for a preliminary injunction which would bring the implementation of FATCA to a halt pending the outcome of the case.
Judge Rose of the Southern District Court of Ohio has denied the plaintiffs' request for a preliminary injunction.
The case will carry on and subject the law to some very interesting and important tests. We will continue to keep you apprised of developments. We believe, however, that destroying FATCA in the courts will take many years to come, and so we continue to call for immediate action by Treasury and the IRS that could relieve overnight the severe and unnecessary impact FATCA has on innocent Americans living abroad.
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