ProPublica's 'Billionaire Playbook' online event this evening

ProPublica, the New York-based, non-profit investigative media organization that last year published a series of investigative articles exposing certain under-the-radar ways some wealthy individuals have been using in recent years to avoid having to pay taxes, is this evening hosting an online "virtual event" entitled "The Bllionaire Playbook", which it says will "seek to unpack" President Biden's recently-unveiled plans to address such tax-avoidance strategies.

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IRS Commissioner Rettig says he supports 'reciprocal FATCA'

A brief statement by IRS Commissioner Charles Rettig yesterday, in support of the idea of the U.S. "reciprocating" with respect to the information it currently receives from foreign governments about the overseas bank and financial accounts of U.S. taxpayers – as a result of a 2010 law known as the Foreign Account Tax Compliance Act (FATCA) – has sparked widespread discussion and debate, particularly outside of the U.S.

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AXFNJ Podcast: American expat adviser Jimmy Miller talks John Richardson through the basics of 'divorcing the IRS'

"It's not that people plan to fail, it's that they fail to plan," is one of the favorite sayings of James ("Jimmy") Miller, the American founder and principal of Baobab Wealth Management, who, as he explained to the AXFNJ's John Richardson last month, had been living in Moscow, Russia, for the past four years, until the Russia invaded Ukraine at the end of February. At which point he, his wife and their young son were forced to race to join the thousands of other non-Russians who were hopping any plane they could get to leave the country...

'Thun Financial' branding replaced...as of today

Thun Financial, the Madison, Wisconsin-based wealth manager for U.S. expats that was acquired in 2020 by Creative Planning  – one of the largest Registered Investment Advisory firms in the U.S.  – is to adopt the Creative Planning name, but with the addition of the word "International" at the end, to reflect its role at the company.

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State Dept seeks dismissal of 'accidentals' legal case relating to suspension of voluntary expatriation services

In the latest development in long-running efforts by the France-based Association of Accidental Americans to compel the U.S. government to make life easier for its members and other "accidental Americans," the U.S. State Department has requested that a federal court dismiss a suit that the AAA filed last year, along with 11 individual plaintiffs, arguing that the government's suspension of voluntary expatriation services in U.S. embassies and consulates around the world was a violation of the U.S. constitution.

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London's Tilney Smith & Williamson names Sarjul Patel to U.S./UK tax role

Tilney Smith & Williamson (TSW), a well-known London wealth manager that last October announced plans to introduce what it called "a new U.S./UK transatlantic tax team," has named Sarjul Patel to the newly-created role of U.S./UK Tax Director at the company, which is in the process of rebranding as Evelyn Partners.

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Opinion

FBARs (FinCEN Form 114s), Form 8938s and Form 8966s: not just one but three ways Uncle Sam monitors Americans’ overseas holdings

FBARs (FinCEN Form 114s), Form 8938s and Form 8966s: not just one but three ways Uncle Sam monitors Americans’ overseas holdings

More American expats are familiar these days than they used to be with Foreign Bank Account Reports (“FBARs”), aka FinCEN Form 114s – which need to be filed by American...

Apr-07-2022