The Foreign Account Tax Compliance Act (FATCA) spurred an unprecedented increase in the IRS’s ability to obtain information about assets held and income earned by US persons in foreign financial accounts, which were especially prone to illegal tax evasion. We review the evidence on FATCA’s efficacy at reducing tax evasion through foreign accounts and provide additional, longer-term evidence. We then discuss potential avenues for avoiding FATCA reporting. We also highlight other consequences of FATCA and provide exploratory analyses pointing to the use of the United States as a tax haven for foreign investors. We conclude with policy recommendations and suggestions for future research in areas where more analysis is needed.

中文翻译：

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FATCA 是否成功减少了通过海外账户逃税的情况？

海外账户税收合规法案（FATCA）极大地提高了国税局获取美国人在海外金融账户中持有的资产和赚取的收入信息的能力，这些账户特别容易发生非法逃税。我们审查了 FATCA 在减少通过外国账户逃税方面的有效性的证据，并提供了额外的长期证据。然后我们讨论避免 FATCA 报告的潜在途径。我们还强调了 FATCA 的其他后果，并提供了探索性分析，指出美国被用作外国投资者的避税天堂。最后，我们对需要更多分析的领域的未来研究提出了政策建议和建议。