Looming confrontation seen between U.S. and its FATCA signatories, as 'FATCA II' takes shape in Washington

As the dust begins to settle on the latest revelation of the gap between what America's wealthiest are paying in federal income taxes, and ordinary, law-abiding American taxpayers are – which came earlier this week, in the form of a major report by the non-profit, New York-based ProPublica investigative journalism organization – expat Americans, tax experts and others are seeing a growing confrontation developing.

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Expat concern over ignoring of expat issues during sub-committee 'Tax Gap' hearing

Spokespeople for advocacy organizations that represent American expatriate interests – as well as many expatriates themselves – have been expressing concern over what they say appears to be a significant lack of awareness among key U.S. lawmakers of how expat taxpayers currently struggle with U.S. tax regulations, based on these lawmakers' comments and testimony during a Senate Finance subcommittee 'Tax Gap' hearing on Tuesday.

SEAT survey finds expats suffering from impact of U.S. 'extraterritorial taxation'

Americans resident outside of the U.S. say they are having to "refrain from making certain investments" owing to the "penalizing" U.S. tax it would incur; missing out on overseas business and employment opportunities because of their U.S. tax obligations; and suffering from tax-induced "personal stress" as a result of the way their home country continues to tax them, even though they live abroad, according to some of the just-released findings of a major survey carried out towards the end of last year by SEAT, a Paris-based advocacy organization. 

AARO expat survey: '40% say they've had a U.S. bank refuse their business'

(...But FATCA not directly to blame)

For more than a decade, American expats have reported finding it difficult to obtain or maintain a non-U.S. bank account while living overseas, usually owing to the banks' reluctance to have to comply with the 2010 tax evasion-prevention law known as FATCA. But a new survey confirms something many have also been saying: That even U.S. banks often don't want U.S. expat clients either.

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'Unintentionally American' ex-KLM pilot now takes his fight to keep his Dutch bank account to EU Parliament

Ronald Ariës, a retired Dutch airline pilot who was born in the U.S. but grew up with his Dutch parents in the Netherlands, has taken his fight to be allowed to keep his Dutch bank account – without being forced to agree to U.S. demands that he acknowledge what it regards as his American citizenship – to the European Parliament, by filing a petition with its Committee on Petitions (PETI).

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Questions being asked, after info request revelations of Canadian FATCA transfer data

American expats and spokespeople for organizations representing them have been asking questions about the scale of U.S. expat data being forwarded to the U.S. under the Foreign Account Tax Compliance Act, after the latest Canadian Revenue Agency (CRA) report of such data revealed that around two thirds of the accounts sent actually fell below the US$50,000 FATCA reporting minimum threshold

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Opinion

The AXFNJ podcast: 'The impact of the proposed Warren Wealth Tax (and how it would interact with FATCA) on Americans abroad'

The AXFNJ podcast: 'The impact of the proposed Warren Wealth Tax (and how it would interact with FATCA) on Americans abroad'

On Wednesday (June 16), viewers of a "virtual" three-hour, full Senate Finance Committee hearing on the subject of President Biden's Fiscal Year 2022 budget were witness to a rare, 6...

Jun-17-2021