U.S. Treasury belatedly reveals 'regulatory reform' talks with EU

The U.S. Treasury this week revealed that it had met last Tuesday and Wednesday in Washington with representatives from a number of EU organizations, including the European Commission, European Banking Authority and the European Securities and Markets Authority, "to exchange views on financial regulatory developments". It said the meetings had taken place as part of ongoing regulatory discussions between the Treasury and the EU entities.

  • Tax

Dutch banking ass'n uses website video to urge 'accidental American' account-holders to get SS#s

In the latest development in what is becoming a fast-moving international story concerning the bank accounts of tens of thousands of "accidental Americans" living outside of the U.S., it has emerged that the Dutch Banking Association has posted an animated video on the home page of its website in which it warns such clients of the need to get their U.S. Social Security numbers – if they don’t wish to lose their Dutch bank accounts.

  • News

IRS formally announces it 'will [no longer] challenge' foreign tax credits on two French social services 'contributions'

 The U.S. Internal Revenue Service said on Wednesday that it "will not challenge" the claiming of foreign tax credits against certain controversial payments that potentially thousands of American expatriates resident in France have been paying for years, and noted that taxpayers who wish to file a claim for refund of U.S. tax with respect to a foreign tax credit have 10 years after the "due date for filing the return" in question in which to do so.

  • Tax

American couple in France in major win against IRS over tax

In a development that is being seen by American expat groups in France as a major win, the U.S. Internal Revenue Service has admitted in a U.S. Tax Court that it had wrongly collected millions of dollars of tax from France-resident American citizens, ending a years-long legal saga that could see millions of dollars paid to U.S. expats who have lived in and been filing tax returns from France, in the form of refunds.

  • Tax

Europe’s ‘accidental Americans' react to EU commissioner’s FATCA letter response

 American expats who have been calling on governments across Europe – and on the EU itself – to rally on their behalf against what they say is the unfair burden of being expected to comply with the U.S.’s Foreign Account Tax Compliance Act have been reacting with disappointment today to a letter from a key EU politician that they say shows their struggles still aren’t being acknowledged.

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Opinion

Karen Alpert: Unforeseen consequences expected as 'Recovery Rebate' is distributed to expats

Karen Alpert: Unforeseen consequences expected as 'Recovery Rebate' is distributed to expats

There has already been much speculation by media organizations, American expat groups and cross-border U.S. tax specialists about how the US$2trn federal stimulus package known as the CARES Act, signed...

Apr-01-2020