The Internal Revenue Service has updated its guidance for the handling of U.S. taxpayers who come forward with previously-undisclosed funds, and in the process introducing, as it said it would, a tougher approach.
Spokespeople for a number of organizations representing American expats have expressed concern that legislation unveiled earlier this week by House Ways and Means Committee chairman Kevin Brady fails to address certain aspects of President Trump's Tax Cuts and Jobs Act (TCJA) of last December that have been particularly harsh for many U.S. expats.
Key lawmakers on Capitol Hill really are aware of the issues being faced by expatriate Americans, and the dysfunctionality in particular of the United States' citizenship-based tax regime, delegates to the American Citizens Abroad's latest "Town Hall" in London were told the other evening.
Corsair Capital LLC, a New York-based U.S. private equity firm, is to acquire a majority stake in Zedra, a multi-jurisdictional corporate, trust and fund services provider that was created in 2016 by the combining of Barclays' UK and non-UK trust businesses with an existing entity.
For the fourth year in a row, more than 1,000 people formally gave up their American citizenship in the three months to the end of September, as a result, observers said, of the continued frustration over the way Americans living overseas are taxed.
Looking for Mr Goodbar was a 1975 book, made into a film two years later, about a New York City schoolteacher who ended up being murdered by a young man she’d just met.
“Mr FBAR,” on the other hand – and of rather more relevance here – is an Expatland nickname for a document that U.S. expats around the world have been required to file annually with the IRS since 1970, if their total offshore bank and financial account holdings total US$10,000 or more at any time during the tax year.
The U.K.'s royal family is looking to recruit "a firm of U.S. financial consultants" to help its in-house aides as they "struggle to deal with the Duchess of Sussex's "American tax 'nightmare'," a U.K. Sunday newspaper is reporting today, in what it says is an exclusive report.
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
