Woodbrook Hero BannerWoodbrook Hero Banner

Lawsuit in UK to challenge legality of British gov't's data-sharing under FATCA

An American who came to the UK 19 years ago, and who was stunned to receive a letter from her bank in 2016 informing her of her U.S. tax obligations and that her account data would be shared with the Internal Revenue Service – as required by the U.S. Foreign Account Tax Compliance Act – has retained London's Mishcon de Reya law firm to legally challenge what she claims is the mis-use of her personal data and a violation of her privacy. 

  • Tax

American Citizens Abroad responds to IRS 'procedures' with re-issue of call for Same Country (FATCA) Exemption

The American Citizens Abroad has officially welcomed the U.S. Internal Revenue Service's announcement last Friday of a set of "new procedures" that it said would enable "certain" expatriates to avoid key taxes normally associated with renouncing, but renewed its call for a "Same Country Exemption" to the FATCA regulations – which are the reasons "certain" expatriates are in need of the IRS's help in the first place – to be be introduced.

  • Tax

Opinion: What frozen bank accounts of U.S. citizens in Europe could mean for U.S. citizens elsewhere

As this and other media organizations have been reporting in recent months, Europe's banks are becoming increasingly aware of an approaching Dec. 31 deadline, after which they will be obliged to comply with an element of the 2010 U.S. law known as the Foreign Account Tax Compliance Act (FATCA) that obliges them to give the U.S. the "Tax Information Number" of all of their American account-holders...

UK's Guardian, Daily Mail and Belgian media report story of 'thousands' at risk of having bank accounts closed

The UK's Guardian newspaper and a couple of Belgian media organizations have published stories this weekend that follow up on concerns that thousands of Americans face the loss of their bank accounts at the end of this year, owing to these Americans' lack of the "Tax Information Number" that their European banks require to comply with the U.S. tax evasion law known as FATCA.

  • News

Accidental Americans group to UK banks: how many U.S./dual citizen clients at risk of losing accounts in 2020?

A Paris-based organization representing so-called “accidental Americans” is calling on Britain’s banks to say how many of their U.S. citizen clients are believed not to have “Tax Information Numbers”, and therefore may be asked to give up their U.K. bank accounts as a grace period on the need for these banks to report these TINs to the U.S. ends at the end of this year.

  • News

U.K. MP seeks to draw Boris Johnson into 'accidental American' debate

Preet Kaur Gill, a British Labour Party member of Parliament from the greater Birmingham area, has formally asked British Prime Minister Boris Johnson to detail his plans with respect to standing up for so-called "accidental Americans" living in Britain – as he was himself, until renouncing his citizenship in 2016 – on behalf of one of her U.S.-born-but-British constituents.

  • Tax

Dems Abroad: Americans Abroad Caucus co-chair Maloney planning to re-introduce two expat-friendly bills

New York Representative Carolyn Maloney, a Democrat who is co-chair of a Congressional group known as the Americans Abroad Caucus, is planning to re-introduce two bills of interest to Americans abroad, one of which calls for the creation of a "standing commission" that would review all laws that are currently having an adverse impact on Americans resident abroad, and also work to prevent new laws from being enacted that inadvertently harm non-resident Americans.

Subscribe to this RSS feed

Opinion

Comment: Is the new IRS 'Relief Procedures' initiative really better than existing options?

Comment: Is the new IRS 'Relief Procedures' initiative really better than existing options?

On September 6, the U.S. Internal Revenue Service introduced an enhanced streamline program aimed at enabling “certain former citizens” to extract themselves more easily than has been the case till...

Sep-17-2019