The world – including its banks, cross-border financial services institutions and even many governments – has come a long way since the Richard Murphy and others founded the Tax Justice Network in around 2003, to call attention to the enormous amounts of tax evasion that they then were seeing taking place around the world, and which they began to document...
This coming Monday, Carolyn Maloney, a New York City member of the House of Representatives who is co-founder and chair of the House's Americans Abroad Caucus, will be hosting an online "Town Hall" for expatriate Americans, via Zoom. The event is scheduled to kick off at 5pm London time, noon on the East Coast of the U.S., and other places according to the usual time differences. The registration deadline is Friday (Sept. 17)...
It's a fact that as the tax and financial reporting obligations imposed by the U.S. government on its expatriates have increased exponentially in recent years, awareness and understanding of them by the average American resident overseas has not kept up. This lack of knowledge, not surprisingly, too often results in significant levels of non-compliance.
William Jordan, president of the Association of Americans Resident Overseas, remembers what happened on this day in 2001 in the U.S...
Twenty years ago, on a beautiful late summer morning on the East Coast of the U.S., two planes struck the towers of the World Trade Center in New York City, and another slammed into the Pentagon across the Potomac from the nation’s capital. A fourth crashed near Shanksville, PA, after passengers realized what had happened in New York and the Washington area and decided to sacrifice themselves rather than let their aircraft become the fourth missile in a deliberate attack on the United States, its people, and what they represented.
It's been eleven years (and a few months) since President Obama signed the Foreign Account Tax Compliance Act into law, which changed everything in terms of finances and taxes for American expats and U.S. Green Card holders around the world.
So at this point, most Americans who live abroad are at least aware, on some level, that they should be filing tax returns every year.
And yet, as Frost Law partner and chair of tax controversy Eli Noff tells AXFNJ podcast interviewer (and Toronto-based lawyer) John Richardson,
Today, as regular readers of the American Expat Financial News Journal will know, is the deadline for American expats who own their own small businesses outside of the U.S. to complete and submit to the Democrats Abroad an online survey of their experiences of, and thoughts about, the so-called GILTI regulations that came into force in January, 2018.
