In a letter to the Treasury that has been published by Tax Notes, Mary Louise Serrato and Jacqueline Bugnion of American Citizens Abroad, Geneva have urged that requirements and penalties related to the foreign bank account report filings be revised and that requirements on banks that maintain accounts for U.S. citizens living overseas be relaxed.
See Mary Luise Serrato and Jacqueline Bugnion, "Tax Correspondence: EXPAT Group Urges Treasury to Rethink FBAR Requirements" 2009 TNT 139-14 (July 17, 2009)
Posted by Gary Robillard, Associate Editor, Wealth Strategies Journal.

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