…and just-revealed setback to bill’s progress has sparked calls for a write-in campaign by American Citizens Abroad
“Lois” – not her real name – is an American who has lived in Paris for more than 20 years, but, like many expats, she spent the first half of her career working in the U.S., and building up a U.S. Social Security pot for her eventual retirement...
Citigroup, the New York-based, NYSE-listed, multinational banking company that many U.S. expats still have accounts with, has announced that it is planning to close its UK retail banking operations, in its latest move away from retail banking, and towards increasing its focus on its wealthiest customers.
In her midyear report to Congress back in June, the National Taxpayer Advocate noted that of some 73 million calls the IRS received, only about one in 10 actually reached an IRS employee, around the same percentage as had been reported during the previous tax season. But the time the average taxpayer spent waiting on hold this year "rose from 20 minutes to 29 minutes," NTA Erin Collins said.
As growing numbers of expatriate Americans are calling on U.S. lawmakers to replace America's problematic citizenship-based tax regime with a system that's based on a taxpayer's current country of residence, the Washington, DC-based American Citizens Abroad is urging expats, members of Congress and others to revisit its most-recent research report – which ACA officials say has some of the best data anywhere on the subject.
A major – and eagerly awaited by many – economic analysis of how the U.S. might most easily and efficiently move to a residence-based tax regime, crowd-funded and organized by the American Citizens Abroad, has found that such a move could be done "without the U.S. Treasury losing revenue".
A major new U.S. Treasury Inspector General for Tax Administration (TIGTA) report released last week, detailing what it says are a number of shortcomings in the way the IRS has overseen compliance with FATCA since it was introduced in 2010, is the latest in a growing body of evidence of the need for Congressional hearings to be held into some of the taxation and citizenship issues America's expats are currently struggling with.
U.S. Internal Revenue Service Commissioner Charles Rettig may have focused on Homeland tax issues during a House Ways and Means Oversight Subcommittee hearing on "the 2022 Filing Season" last month, as reported. But interested stakeholders were invited to submit written comments for inclusion in the hearing record, and among those to do so – and in so doing, introducing the tax-filing issues currently facing millions of U.S. taxpayers who live overseas – was the American Citizens Abroad, the Washington, D.C.-based advocacy organization.
Once again, we're posting in our news section a selection of events from our regular "Listings" page, to help some of these online event sponsors and their audiences to find each other...
Don Beyer, a U.S. Democratic congressman who represents a Virginia constituency, has introduced legislation he says is aimed at making life significantly easier for American expatriates, by making it easier for them to comply with their U.S. tax obligations.
The Democrats Abroad has announced that it has joined the Residence-Based Taxation Coalition, a lobbying organization launched in January with a single goal: persuading U.S. lawmakers to move the U.S. to a residence-based tax regime, like most of the rest of the world's countries have.
In the early years of this century, a number of major media exposés reported how Homeland Americans, as well as rich people from other developed and developing countries, were making...
Mar-18-2023
