Though it had been in the works for some time, just this summer, the US Treasury Department unleashed a regulatory tsunami upon US citizens living and working abroad, the Foreign Asset Tax Compliance Act (FATCA). Uncle Sam and President Obama haven’t exactly spelled out “FATCAT”, but they’re only one letter off. And though their initial interest was to target the 1 percent with significant quiet offshore holdings, the average American expat has, unfortunately, been caught in the cross-hairs.