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.
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 the basis of where they live.
Ever since President Trump unveiled his so-called Tax Cuts and Jobs Act just before Christmas in 2017, tax experts familiar with the complex way American expatriates are taxed have been sounding the alarm about what were initially assumed to be the unintended consequences of that legislation on American small-business owners overseas.
Like resolutions to eat less and exercise more, vows to spend less and save more are a traditional feature of many of individuals' Januaries, including Americans who are living outside of the U.S., financial advisers report.
Preet Kaur Gill, a British Labour Party member of Parliament from the greater Birmingham area, has said she plans to continue asking questions of the U.K. government on behalf of U.S.-born British citizens – like at least one of her constituents, who are facing unprecedented “negative financial implications” as a result of the way such individuals are pursued for tax by the U.S. authorities.
The marketing arm for the island of Jersey's financial services industry has confirmed that it is considering opening an outpost in New York City, to accommodate what it sees as a growing interest from U.S. fund managers in the offerings of Jersey companies.
Of the 21 jurisdictions included on a "blacklist" of financial centers that the Dutch government said last week it considers to be low-tax potential tax havens, few have reacted with as much fury and indignance as the Cayman Islands – at least to judge by the comments that have been posted over the last few days on its news media outlets and social media.
Ever since President Trump unveiled his so-called Tax Cuts and Jobs Act just before Christmas in 2017, tax experts familiar with the complex way American expatriates are taxed have been...
Jan-10-2019
