Tax

IRS to U.S. taxpayers: 'reasonable cause' defense in the event its own published guidance was to blame

U.S. taxpayers may now claim a "reasonable cause" defense in the event they've been hit with a penalty in connection with a tax matter for which they had "reasonably and in good faith" relied on any IRS-published FAQs (frequently-asked-questions) that has to do with new tax legislation, the IRS has…

October 20, 2021
Tax
By staff writer

Uncle Sam Reminds YOU: Tax Day for expats who got extensions is Oct. 15

Uncle Sam – in the rather more official (and less colorful) form of the Internal Revenue Service – is reminding U.S. expats that as it is now October, this means they only have two weeks left to get their U.S. tax returns in, if they opted to take advantage of the extension…

September 27, 2021
Tax
By staff writer

KPMG UK unveils new tax practice in London for U.S. expats

KPMG UK, the British arm of the global "Big Four" accountancy firm, today unveiled a new practice that will be based in London and will look to assist U.S. expats in the UK and across Europe with their tax issues, which it believes will become even more challenging as proposed…

August 16, 2021
Tax
By staff writer

A brief Bright!Tax Guide: How expats can catch up with their U.S. tax filing obligations

'Tax Day' for Americans living outside of the U.S. was on June 15. But not everyone who should have filed their 2020 U.S. tax returns by that date will know that. Because, as Allyson Lindsey, Bright!Tax partner and managing Certified Public Accountant explains below, millions of Americans who currently live overseas have…

July 9, 2021
Tax
By Allyson Lindsey

BBC World Service takes a 4th of July look at U.S. 'taxation' and 'representation' of its expats

In a gesture no doubt aimed at least in part at the estimated 7 million to 9 million Americans who live outside of the U.S., today's BBC World Service's Weekend show set aside a 15-minute segment to examine some of the tax and citizenship issues these expats are currently struggling…

July 4, 2021
Tax
By Helen Burggraf

Switzerland's tax authority again issues reminder on disclosure of U.S.-client account details

For the fifth time since last December, Switzerland's Federal Tax Administration has published a list of banks banks, fiduciary firms and insurance companies that it says are on notice to provide it with information on their U.S. clients, in order that they are able to comply with the American anti-tax…

July 4, 2021
Tax
By Helen Burggraf

Friday's vote on the FATCA proposal in France's National Assembly

Setback for FATCA reciprocity advocates in France, as Assembly fails to approve amendment

The latest attempt by certain French lawmakers to introduce a proposed amendment that would oblige the U.S. to reciprocate with respect to the information it currently receives from France under FATCA has ended, after members of France's National Assembly voted against it late in the afternoon on Friday.

June 15, 2021
Tax
By Helen Burggraf

ACA to Treasury: 'de minimis rule' needed for GILTI and Transition Tax (and btw, RBT is needed too)

The American Citizens Abroad has written to seven top U.S. Treasury officials, including Treasury Secretary Janet Yellen and IRS Commissioner Charles Rettig, to urge it to "revisit" the way President Trump's 2017 Tax Cuts and Jobs Act is affecting the small- to medium-sized businesses owned by Americans overseas – in addition…

June 10, 2021
Tax
By Helen Burggraf

The ProPublica website, showing its exposé into how America's 'wealthiest avoid income taxes

ProPublica revelations about tax avoidance by America's richest seen to deepen expats' concerns about future

A major analysis of IRS documents by ProPublica – a New York-based, non-profit investigative journalism organization – has shown how some of America's wealthiest and best-known citizens managed to avoid paying almost any federal income taxes between 2014 and 2018.

June 9, 2021
Tax
By Helen Burggraf

Treasury unveils plans to 'leverage finance institutions' info to target 'HNWIs' opaque income sources'

Hours before President Biden was set to deliver his first speech to a joint session of Congress on Wednesday evening in Washington, the U.S. Treasury was unveiling its plans for helping him finance some of his goals, in the form of a press release entitled "Investing in the IRS and…

April 29, 2021
Tax
By Helen Burggraf

The financial district of lower Manhattan

As expat small-biz owners struggle, new report shows dozens of U.S. multi-nationals paid $0 Fed taxes in 2020

Days after an American owner of a small business located outside of the U.S. lost his legal bid to fix what he said was the harsh and unfair treatment by President Trump's 2017 tax reform bill of small businesses like his, a new study reveals that at least 55 of…

April 2, 2021
Tax
By Helen Burggraf

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U.S. District Court for the District of Columbia

U.S. District Court rules against Monte Silver Transition Tax challenge

In a ruling that has surprised many in the expatriate American community, a U.S. District Court in Washington, D.C. has officially declared Tel Aviv-headquartered U.S. tax attorney Monte Silver and his company "lack constitutional standing to pursue their claims" – thus ending, at least for now, Silver's feisty effort to force the…

March 31, 2021
Tax
By Helen Burggraf

Joint Tax Committee report: TCJA saw U.S. multinationals pay less tax, invest more

U.S. multinational companies paid significantly less U.S. corporate taxes in the wake of the coming into force of President Trump's 2017 Tax Cut and Jobs Act, both domestically and abroad, according to a report published last week by the congressional Joint Committee on Taxation.

March 25, 2021
Tax
By staff writer

New paper to show 'high-income US tax avoidance far larger than thought'

American households accounting for the top 1% in annual income are managing to avoid significantly more in income taxes than had been previously assumed, a research paper due to be released later today by the Internal Revenue Service and academics will reveal.

March 22, 2021
Tax
By Helen Burggraf

Expat YouTube 'creators' stunned by YouTube tax announcement

YouTube, the giant, San Bruno, California-based online video-sharing platform, has stunned video content "creators" around the world with its announcement this week that it will soon begin to deduct taxes from their YouTube earnings for the first time, because its parent, Google LLC, says it must.

March 12, 2021
Tax
By Helen Burggraf

Tax

IRS to U.S. taxpayers: 'reasonable cause' defense in the event its own published guidance was to blame

Uncle Sam Reminds YOU: Tax Day for expats who got extensions is Oct. 15

KPMG UK unveils new tax practice in London for U.S. expats

A brief Bright!Tax Guide: How expats can catch up with their U.S. tax filing obligations

BBC World Service takes a 4th of July look at U.S. 'taxation' and 'representation' of its expats

Switzerland's tax authority again issues reminder on disclosure of U.S.-client account details

Setback for FATCA reciprocity advocates in France, as Assembly fails to approve amendment

ACA to Treasury: 'de minimis rule' needed for GILTI and Transition Tax (and btw, RBT is needed too)

ProPublica revelations about tax avoidance by America's richest seen to deepen expats' concerns about future

Treasury unveils plans to 'leverage finance institutions' info to target 'HNWIs' opaque income sources'

As expat small-biz owners struggle, new report shows dozens of U.S. multi-nationals paid $0 Fed taxes in 2020

More...

U.S. District Court rules against Monte Silver Transition Tax challenge

Joint Tax Committee report: TCJA saw U.S. multinationals pay less tax, invest more

New paper to show 'high-income US tax avoidance far larger than thought'

Expat YouTube 'creators' stunned by YouTube tax announcement

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American Expat Essentials

Acronyms

Congressman Holding to discuss ‘Tax Fairness for Americans Abroad’ bill in London in April

'Accidental Americans' group launches 'major' letter-writing campaign targeting Congressional Dems

Charles Schwab telling clients in UK, Europe their accounts must move or be transferred by year’s end

Call for expats to be included in U.S. coronavirus relief efforts, as citizenship-based tax regime faces test

Seven things that surprise Americans about U.K. mortgages, house-buying

UK MP vows to continue speaking out on behalf of ‘accidental Americans’ living in Britain

Republicans Overseas calls for executive order to help expats ahead of prez election

U.S. finally publishes final 2018 renunciation data

Accidental Americans latest: French banks warn of potential need to close 40,000 accounts

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