Tax Talk Volume 5, No. 3

Editor's Note

When U.S. voters go to the polls on November 6, they may not understand much about the respective candidates' tax policies but that won't be because Tax Talk didn't try. In this issue we continue our quadrennial review of the Republican and Democratic presidential candidates' tax proposals. Unfortunately, as you will observe, details are in short supply. No matter who wins, however, taxpayers face an uncertain tax landscape with 2013 right around the corner. Tax reform is again in the air (or maybe just a six month extension of current law until the next Congress figures out what to do). Anyway, our regular readers will realize we are fixated on FATCA ( www.KNOWFatca.com) and Q3 is no different. In this issue, we report on the first "FATCA substitute" intergovernmental agreement announced on September 14th between the United States and the United Kingdom. The agreement provides for information sharing between the two countries and gives a FATCA pass to