IRS reported to 'welcome' EU Council prez proposal for an 'accidental American' bank accounts fix

U.S. Treasury officials meeting last week with representatives of the French Presidency of the Council of the European Union (PFUE) have been said to "welcome" an EU proposal that would address the major problems so-called "accidental American" EU citizens have been having in trying to obtain and keep bank accounts in their home countries, due to these banks' efforts to comply with the 2010 U.S. tax evasion-prevention law known as FATCA.

U.S. Treasury unveils 'Tax Compliance Agenda' aimed at narrowing 'Tax Gap'

The U.S. Treasury on Thursday unveiled an outline of how it intends to address America's vast so-called "Tax Gap" by funding a  multi-year, "nearly US$80 billion rebuilding" of the IRS; boosting tax compliance by increasing personal and business financial account reporting; and increasing its regulation of paid tax preparers.

Mexico-born EY partner to succeed Lafayette 'Chip' Harter at Treasury

Jose E. Murillo,  a partner for the past 11 years with the Big Four accountancy firm Ernst & Young LLP, has been named to succeed Lafayette "Chip" Harter as deputy assistant secretary for International Tax Affairs, in the U.S. Treasury's Office of Tax Policy, the Treasury announced on Tuesday.

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U.S. Treasury: Second round of Economic Impact Payments on its way

The U.S. Treasury Department and Internal Revenue Service have announced that as of today, they will begin delivering a second round of Economic Impact Payments to millions of Americans, "as part of the implementation of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021".

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Richardson, Snyder, Alpert: 'Treasury could also fix CBT'

While there is apparently some disagreement as to whether Albert Einstein ever actually said that the "definition of insanity is doing the same thing over and over again, but expecting different results," few would challenge the argument for changing one's approach when, after numerous attempts to do something, one is clearly making no progress whatsoever.

Among the latest advocates of this strategy are Toronto-based U.S. citizenship lawyer John Richardson, Paris-based attorney and U.S. taxpayer rights campaigner Laura Snyder, and Australia-based university lecturer and FixtheTaxTreaty.org founder Karen Alpert...

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Little-known Irving Berlin song celebrates payment of one’s taxes

If the U.S. Internal Revenue Service has recently issued a call for a songwriter to come up with a melody celebrating the paying of one’s income taxes, we aren’t aware of it.

Back in 1942, though, Irving Berlin apparently didn’t even need to be asked to write I Paid My Income Tax Today, according to historical records...

  • Tax

Judge's decision 'clobbered Treasury/IRS' Monte Silver tells Steve Mnuchin, other Treasury officials

Two days after a U.S. District Court judge in Washington, D.C. ruled that he could go ahead with a legal challenge of a key component of President Trump's December 2017 tax reform legislation, Tel Aviv-headquartered U.S. tax attorney Monte Silver told U.S. Treasury Secretary Steve Mnuchin and other Treasury officials in an email that their case against him had been "clobbered" by the decision.

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Opinion

AXFNJ Podcast: Dubai private asset manager for U.S. expats Vince Truong explains why everyone needs ‘a financial roadmap in place’

AXFNJ Podcast: Dubai private asset manager for U.S. expats Vince Truong explains why everyone needs ‘a financial roadmap in place’

Hearing Americans who've been living abroad for 10 or more years, and sometimes for most of their adult lives, describe how they got there is always interesting, I find. Many...

Dec-15-2022