Tax

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

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

IRS: 'Cryptocurrency accounts to be included in FBAR reports'

The last few weeks have seen the price of Bitcoin soar, accompanied by a roar of commentary from those who see it, and other cryptocurrencies, as the future. This latest round of Bitcoin mania was kicked off earlier this month, when (Bitcoin fan) Elon Musk's car company, Tesla, announced in an…

February 23, 2021
Tax
By Allyson Lindsey

Online venue for this year's annual DJH International Tax Conference in February

For the first time since she began sponsoring her annual International Tax Conference in 2011, Deborah J. Hicks is arranging for the event to take place online this year, owing to the Covid pandemic, and consequent global lockdown.

February 1, 2021
Tax
By staff writer

EU Data Protection Board to revisit FATCA data protection issues: Justice Commissioner Reynders

The EU's Data Protection Board is to "again look into" the degree to which the processing and transferring of the personal data of European citizens to the U.S. by EU countries, in compliance with the U.S. tax evasion prevention law known as FATCA, could violate the bloc's General Data Protection…

January 25, 2021
Tax
By Helen Burggraf

Another U.S. court finds FBAR non-willful penalty 'per annual form' rather than per account

Another U.S. district court has found that "non-willful" FBAR penalties should be handed out on a "per annual form" basis rather than for each un-reported account over the minimum amount that the taxpayer in question held in various different bank accounts during the year, according to press reports and court…

January 21, 2021
Tax
By Helen Burggraf

Dems Abroad to host webinar on the second covid stimulus payments for expats

It's been reported that some American expats have already begun receiving the latest Economic Impact Payments that are being sent out now by the U.S. government, with the aim of helping U.S. citizens at home and abroad to cope with the economic consequences of the ongoing Covid-19 pandemic...

January 5, 2021
Tax
By staff writer

Are the FBAR regs fit for purpose – FinCEN wants to know by next Friday

FinCEN, the U.S. Treasury Department bureau that's responsible for overseeing the receipt of Foreign Bank Account Reports, is inviting comments "on the proposed renewal, without change, of existing information collection requirements concerning reports of foreign financial accounts and... Report[s] of Foreign Bank and Financial Accounts (FBAR)".

January 5, 2021
Tax
By staff writer

More...

AXFNJ webinar: What, if anything, does California’s proposed wealth tax mean for taxpayers, post-Covid-19?

As tax experts, academics and others ponder the extent to which governments around the world are likely to introduce taxes aimed specifically at the wealthy – as these governments begin to attempt to repair their severely-damaged finances – our roving, Toronto-based webinar correspondent, John Richardson, interviews Chapman University professor Hank…

January 1, 2021
Tax
By staff writer

European Parliament hearing on FATCA last year in Brussels

EU Council's Kreienbaum, to IRS Commissioner Rettig: We need to talk about FATCA

The head of the German Presidency of the EU has written a strongly-worded letter to the head of the U.S. Internal Revenue Service on the subject of the U.S. law known as FATCA, and what he calls "the continuing challenges EU residents with U.S. citizenship are encountering in connection with…

December 17, 2020
Tax
By Helen Burggraf

More Dutch banks turning away 'unintentional Americans', latest NRC Handelsblad report reveals

Two of the Netherlands' largest banks, ABN AMRO and Rabobank, are also prepared to close the bank accounts of "unintentional Americans" if these individuals "do not cooperate with the U.S. requirements" that they provide tax information numbers, such as a Social Security number, or evidence that they have entered into…

December 7, 2020
Tax
By Helen Burggraf

London Times informs retired UK military officer: His 44-yr-old daughter is 'accidental American'

An advice columnist for the London Times newspaper's Money section has informed a retired U.K. Army officer who wrote to the paper that his 44-year-old daughter, born in Colorado when he was on a two-year posting there, is an "accidental American", who will have to pay thousands of dollars to…

December 5, 2020
Tax
By Helen Burggraf

Tax

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

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

IRS: 'Cryptocurrency accounts to be included in FBAR reports'

Online venue for this year's annual DJH International Tax Conference in February

EU Data Protection Board to revisit FATCA data protection issues: Justice Commissioner Reynders

Another U.S. court finds FBAR non-willful penalty 'per annual form' rather than per account

Dems Abroad to host webinar on the second covid stimulus payments for expats

Are the FBAR regs fit for purpose – FinCEN wants to know by next Friday

More...

AXFNJ webinar: What, if anything, does California’s proposed wealth tax mean for taxpayers, post-Covid-19?

EU Council's Kreienbaum, to IRS Commissioner Rettig: We need to talk about FATCA

More Dutch banks turning away 'unintentional Americans', latest NRC Handelsblad report reveals

London Times informs retired UK military officer: His 44-yr-old daughter is 'accidental American'

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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

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

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

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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