More than a year after it first admitted that it couldn't offer its Marcus-branded services to Americans resident outside of the U.S., Goldman Sachs says it still can't accept them, citing the problems of having to comply with the U.S. tax evasion law known as FATCA.
American expats who live in the Netherlands are unable to cash the latest round of U.S. CARES Act stimulus checks at any Dutch bank, as the last bank willing to cash such checks, ING, has stopped doing so.
Europe's accidental Americans say they're cautiously optimistic that a recently-announced follow-up to last week's ECOFIN discussion on FATCA may at last yield results – at least in the form of an agreement by top EU officials to prioritize the accidentals' concerns, as these officials prepare to meet in coming weeks and months with their counterparts in the new Biden administration.
American citizens who are resident overseas, and who would like a chance to make the American Internal Revenue Service better and more accountable to taxpayers, may wish to consider applying for the soon-to-be-vacated only international seat on the IRS's Taxpayer Advocacy Panel, currently held by suburban Paris-based Laura Snyder.
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 SEC filing that it had bought US$1.5bn worth of the cryptocurrency, and that it would also begin accepting Bitcoin in payment for its products...
Last Tuesday's eagerly-anticipated (online) discussion of the controversial American tax law known as FATCA by the EU's Economic and Financial Affairs Council (ECOFIN) – which had been flagged up in advance by campaigners who argue that it causes a raft of problems for "accidental Americans" as well as ordinary American expats and dual U.S./EU citizens – failed to deliver any significant breakthroughs to the law's oponents, beyond ECOFIN's assurance that it stands ready to assist those member states that seek to challenge it.
Virginia La Torre Jeker, a Dubai-based U.S. expat tax law practitioner and well-known blogger on American tax issues, will hold a one-and-a-half-hour-plus, live online training session for FBAR preparers and/or their clients on March 16, accompanied by Jimmy Sexton, another international tax expert who is also based in Dubai.
The latest U.S. Government posting of the Internal Revenue Service's "Quarterly Publication of Individuals Who Have Chosen to Expatriate" brought total U.S. citizenship renunciations in 2020 a record high of...
Feb-11-2021
