Surprise stimulus payment advantage for expats spotted, via Foreign Earned Income Exclusion

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.

Renounced U.S. citizens, foreign workers reported among those to receive CARES Act payments

As lawyers representing plaintiffs in a number of U.S. states prepare to bring legal challenges against the U.S. government and key government officials for denying certain American taxpayers the right to receive CARES Act "Economic Impact Payments" because they most recently have been filing their tax returns jointly with their non-American citizen spouses, reports have emerged of renounced Americans as well as foreign workers living overseas getting the payments.

  • Tax

Bright!Tax's Allyson Lindsey: 'Yes, expats w/o a U.S. bank account can still get the payment'

 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 automatic deposit, as part of a US$2.2 trillion bipartisan bill aimed at providing emergency relief to individuals and businesses hit by the coronavirus pandemic lockdown.

Here, she addresses further issues expats are having as they try to secure their COVID-19 rebate money, including the fact that they don’t need a U.S. bank account to receive it...

U.S. officials warn of possible CARES Act payments frauds

A U.S. federal office that oversees government funding measures has warned U.S. taxpayers to "be on the look-out for fraudulent activity" in connection with the so-called CARES Act Economic Impact Payments that are due to be going out to Americans around the world over the coming days and weeks.

  • News
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Opinion

Tax Foundation: Joe Biden’s plan to address 'offshoring' comes with contradictions 

Tax Foundation: Joe Biden’s plan to address 'offshoring' comes with contradictions 

Last week, American voters – and business executives, onshore and abroad – finally got a look at Democratic presidential candidate Joe Biden's thoughts about how he planned to change the...

Sep-16-2020