Senate Democrats have unveiled a revamped version of their plans to require U.S. banks to report their customers' account information to the Internal Revenue Service on a regular basis, in response to significant opposition from Republican lawmakers, the banking industry and U.S. taxpayers.

President Trump's 2017 overhaul of the U.S. tax system, known as the Tax Cuts and Jobs Act, appears destined for its own major overhaul, to judge by the prepared statements of a succession of the Democratic Party's top lawmakers that were delivered during a two-and-a-half-hour Senate Finance Committee hearing on Thursday.

Nov. 3, the date of the 2020 U.S. presidential election, is two weeks and one day away. Many expats will have voted by now, but for those who haven't – or those who did, but who aren't all that sure of their chosen candidate's views on such issues as taxes that affect Americans who live outside of the U.S. – Bright!Tax managing partner Katelynn Minott assesses the options, and what the implications for expats of the two outcomes are likely to be...