Tax

Glimmer of hope seen in IRS proposal to tweak FATCA regs

After more than eight years of lobbying Congress and the White House, opponents of the 2010 Foreign Account Tax Compliance Act are cautiously welcoming news that the Internal Revenue Service has issued a proposal to make major changes in that legislation and certain other reporting requirements that have made life…

December 14, 2018
Tax
Written by Helen Burggraf

IRS updates regs for handling taxpayers with undisclosed offshore funds

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.

December 5, 2018
Tax
Written by Helen Burggraf

Concern as Brady tax bill fix legislation lacks called-for fixes for US expats

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…

November 29, 2018
Tax
Written by Helen Burggraf

Expat tax experts Richardson, La Torre Jeker go looking for ‘Mr FBAR’

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…

November 19, 2018
Tax
Written by Helen Burggraf

Sunday Express: 'U.S. taxman eyes up raid on Harry's fortune'

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.

November 18, 2018
Tax
Written by Helen Burggraf

EVENTS: Tax and investing/financial planning webinars on offer for U.S. expats

On the 18th of November the Democrats Abroad UK will be hosting a webinar that it says will offer viewers "the basics of U.S. tax filing requirements" specifically aimed at Americans living abroad. Those who wish to watch it later, on demand, may do so, by paying a small fee…

November 11, 2018
Tax
Written by staff writer

American expat group reiterates ire over Trump ‘Transition Tax’ at hearing

The American Citizens Abroad yesterday reiterated its strong objections to a key measure contained in President Trump’s recent Tax Cuts and Jobs Act, at an IRS and Treasury Department hearing.

October 23, 2018
Tax
Written by staff writer

YouTube video of London tax event features Yue, Richardson, Treitel, Grossman

A video of a seminar held last month in London, which focused on legislative efforts currently under way in Washington to address the significant tax problems currently facing many American expatriates, has been posted on YouTube.

October 9, 2018
Tax
Written by Helen Burggraf

London expats return to the classroom for lessons on FBARs, foreign tax credits and PFICs: Part 1

It used to be so easy: Americans moved overseas for work or other reasons, paid taxes – or didn’t – and then either returned home, or stayed on.

October 4, 2018
Tax
Written by Helen Burggraf

Call for American expats around the world to sign tax-law change petition

A Switzerland-based American expatriate and campaigner for fairer treatment of Americans overseas is urging his fellow countrymen around the world sign his petition urging Donald Trump to spare them all from the burden of citizenship-based taxation.

September 30, 2018
Tax
Written by staff writer

U.S. expands Foreign Earned Income Exclusion entitlement to key 'combat zone' support entities

The U.S. has announced it is extending the right to qualify for the Foreign Earned Income Exclusion (FEIE) to U.S. citizens and resident aliens who can demonstrate that they have supported the U.S. Armed Forces in designated combat zones, even if their “abode", or tax home, were in the United…

September 20, 2018
Tax
Written by Helen Burggraf

More...

George Holding’s bill: What we know so far

Over the last few months, details have begun to emerge about soon-to-be-introduced legislation aimed at making the U.S. tax regime less unforgiving for the 9 million Americans estimated to live overseas, growing numbers of whom say they feel they now have no choice but to renounce their U.S. citizenships.

September 9, 2018
Tax
Written by Helen Burggraf

Left to right: Jim Gosart, Olivier Wagner, Solomon Yue, John Richardson

Expert panel sees imminent end to expat-hated U.S. tax regime

A panel of tax and business experts who have been lobbying for years to end the U.S.’s citizenship-based tax regime has said they believe planned legislation – specifically aimed at addressing some of the worst of the problems such expats have been struggling with – actually stands a chance of…