Tax

U.S. Treasury finally cuts expat small-biz owners some GILTI slack

Campaigners for fairer treatment for American citizens abroad are claiming a victory this morning, as news emerged that the U.S. Treasury had finally cut owners of small businesses located abroad some slack yesterday, by enabling such individuals to choose to be treated like a corporation for tax purposes, and thus…

March 5, 2019
Tax
By Helen Burggraf

Liz Zitzow: U.S. Treasury expected to unveil ‘good news’ for overseas small-biz taxpayers over GILTI, Section 965

Liz Zitzow, an American resident in London who runs a tax advice business for American expats, says the U.S. Treasury plans to announce “some good news on Monday” with respect to the recently-introduced global intangible low-taxed income (GILTI) tax, which has been causing major problems for many Americans who own…

March 1, 2019
Tax
By Helen Burggraf

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

Republican Representative George Holding will discuss his recently-proposed Tax Fairness for Americans Abroad legislation in April, in a public forum for American expats in London that the organizers say they are hoping will build the solid cross-party consensus that Holding’s bill will need to be approved by Congress.

February 28, 2019
Tax
By Helen Burggraf

National Taxpayer Advocate's 2018 Annual Report to Congress seen to ignore expat taxpayers' issues

The National Taxpayer Advocate's latest Annual Report to Congress largely ignores the struggles American expatriates have been facing, an examination of the various documents that comprise it reveals.

February 24, 2019
Tax
By Helen Burggraf

Treasury official reported to hint at plans to address GILTI concerns

The U.S. Department of the Treasury is planning to address a much-criticised aspect of the Tax Cuts and Jobs Act that currently would see individual American taxpayers facing potentially higher taxes on their overseas income, a report published on Thursday said, citing a Treasury official.

February 22, 2019
Tax
By staff writer

American expatriate lawyer sues IRS, U.S. Treasury over 'Transition Tax'

An American citizen living in Israel has filed a lawsuit against the U.S. Internal Revenue Service and Treasury Department, challenging a key component of President Trump's December 2017 tax reform legislation, as it applies to controlled foreign corporations.

February 2, 2019
Tax
By Helen Burggraf

Long-awaited Canada FATCA trial kicks off on Monday, with 'live webcast'

A trial in which a group of Canadian/American citizens are seeking to challenge the constitutionality of the Canadian government's enforcement of America’s FATCA legislation is set to begin on Monday in a federal courthouse in Vancouver, British Columbia, and will be broadcast live via a "webcast", according to sources involved…

January 25, 2019
Tax
By Helen Burggraf

Democrats Abroad in survey of U.S. non-residents ‘impacted by tax obligations’

The Democrats Abroad, which represents members of the U.S. Democratic Party who are resident overseas, has launched a major research project it says is aimed at gathering information it plans to use in its efforts to reform the way American expats are currently taxed.

January 25, 2019
Tax
By staff writer

Suit challenging legality of 'Transition Tax' planned, amid reports final draft issued

Sources representing the interests of expatriate American owners of small non-U.S. businesses say they're preparing to go ahead with a lawsuit they say will challenge the applicability to small businesses of a key component of President Trump’s December 2017 tax reform legislation, the so-called Tax Cuts and Jobs Act (TCJA).

January 21, 2019
Tax
By Helen Burggraf

FBAR filing season officially open for U.S. expats (including duchesses)

The U.S. government may still be largely shut down, but non-U.S. resident Americans who have U.S. tax reporting obligations may now be able to kick off the 2018 reporting season by filing their 2018 Foreign Bank Account Reports, as the official FBAR exchange rates have just been published.

January 17, 2019
Tax
By Helen Burggraf

ACA issues detailed explanation of 'Tax Fairness' legislation

The American Citizens Abroad says tax legislation introduced on Capitol Hill last month that aims to address the tax problems U.S. expats currently face is a start, which would begin the transition from the country's current citizenship-based tax regime to one that allowed for U.S. citizens to be taxed on…

January 10, 2019
Tax
By Helen Burggraf

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Kevin Brady publishes draft of proposed TCJA corrections, seeks feedback

Outgoing House Ways and Means Committee chairman Kevin Brady yesterday appeared to respond to concerns that President Trump's Tax Cuts and Jobs Act – signed into law in late December 2017 – set the stage for a number of unintended and potentially damaging consequences, with the publication of a discussion draft…

January 3, 2019
Tax
By staff writer

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
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
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
By Helen Burggraf

Tax

U.S. Treasury finally cuts expat small-biz owners some GILTI slack

Liz Zitzow: U.S. Treasury expected to unveil ‘good news’ for overseas small-biz taxpayers over GILTI, Section 965

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

National Taxpayer Advocate's 2018 Annual Report to Congress seen to ignore expat taxpayers' issues

Treasury official reported to hint at plans to address GILTI concerns

American expatriate lawyer sues IRS, U.S. Treasury over 'Transition Tax'

Long-awaited Canada FATCA trial kicks off on Monday, with 'live webcast'

Democrats Abroad in survey of U.S. non-residents ‘impacted by tax obligations’

Suit challenging legality of 'Transition Tax' planned, amid reports final draft issued

FBAR filing season officially open for U.S. expats (including duchesses)

ACA issues detailed explanation of 'Tax Fairness' legislation

More...

Kevin Brady publishes draft of proposed TCJA corrections, seeks feedback

Glimmer of hope seen in IRS proposal to tweak FATCA regs

IRS updates regs for handling taxpayers with undisclosed offshore funds

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

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Acronyms

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

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

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

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

U.S. Citizenship and Immigration Services to close all but seven of its overseas offices

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

‘Dem sponsor needed’ for expat tax fairness bill, Rep. Holding tells London gathering

U.S. government report acknowledges problems with FATCA reporting

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