A U.S. taxpayer has been hit with almost US$13m in FBAR penalties, following a U.S. District Court ruling in Florida earlier this month, in what experts say is one of the largest individual FBAR assessments ever.
The American Citizens Abroad, the non-profit, non-partisan organization based in Rockville, Maryland that exists to help Americans who live overseas, has unveiled an online tool it says is designed to make it easier for American expats to make their voices heard in Washington, ahead of this November’s election.
Toronto-based citizenship lawyer and U.S. expatriate rights campaigner John Richardson has issued a call for contributed questions ahead of a planned podcast he’s scheduled to do on Wednesday with Anthony Scaramucci, founder of the U.S. alternative investment firm SkyBridge Capital.
The Internal Revenue Service has added some 3,500 telephone representatives to answer taxpayers' questions about their Economic Impact Payments, which expats are able to access if they don't mind paying for the cost of an international telephone call.
Last Wednesday, the UK’s Information Commissioner’s Office (ICO) announced that it expects imminently to issue its decision in a closely-watched legal challenge over data protection violations that a U.S.-born, UK-resident plaintiff alleges have resulted from the way HMRC has forwarded her personal information to the U.S., in compliance with that country’s FATCA legislation.
The U.S. Treasury has now sent CARES Act Economic Stimulus Payments to nearly three-quarters of a million American expats and Green Card holders, as of May 22.
A little more than a month after Americans around the world have begun receiving “Economic Impact Payments” from the U.S. Treasury – as part of the government’s emergency US$2trn CARES Act stimulus package, unveiled in March – tax experts have begun to point out that some wealthy expatriates could potentially benefit from an apparently unforeseen quirk in the way these payments are being provided, that their Homeland counterparts could not.
As Bright!Tax partner and managing Certified Public Accountant Allyson Lindsey explained last month, Americans who are resident outside the U.S. are potentially eligible to receive a "recovery rebate" check or...
May-14-2020
