EU Council's Kreienbaum, to IRS Commissioner Rettig: We need to talk about FATCA

The head of the German Presidency of the EU has written a strongly-worded letter to the head of the U.S. Internal Revenue Service on the subject of the U.S. law known as FATCA, and what he calls "the continuing challenges EU residents with U.S. citizenship are encountering in connection with the application of the FATCA – Exchange of Information under  Intergovernmental Agreements (IGA) by the the EU Member States."

  • Tax

Republicans Overseas calls for executive order to help expats ahead of prez election

In what many American expats will hope could at last bring expat issues onto the agenda in the final weeks of the U.S. presidential campaign, the Republicans Overseas has asked White House chief of staff Mark Meadows to call on President Trump to use his authority, as president, to begin to make some of the changes these expats have long been calling for, but which Congress has failed to address.

  • News

EU Court of Justice 'Schrems II' ruling seen as potential game-changer for FATCA challenges in Europe

Lawyers and campaigners against the American tax evasion law known as FATCA say that last week's European Court of Justice (ECJ) ruling, which struck down the main mechanism used by the EU to protect the personal data of EU citizens when it's transferred to the U.S., represents a potential "game changer" – and could force Europe's courts to revisit the way FATCA compels Europe's banks and financial institutions to pass information on their U.S. citizen and Green Card-holding account-holders to the U.S. 

  • News

IRS unveils FATCA Model 2 IGA reporting deadline extensions for financial institutions

Days after the IRS announced it was pushing back "Tax Day" for Homeland Americans to July 15, from its long-established date of April 15, to accommodate issues resulting from the current coronavirus pandemic, the U.S. tax collecting agency today began to address at least one of the major deadline concerns of those who have non-U.S.-resident American accounts to report: specifically, certain deadlines that have to do with FATCA (Foreign Account Tax Compliance Act). 

  • News

OPINION: FATCA at 10: Teenager-in-waiting

FATCA at 10 shares certain characteristics with a human 10-year-old, according to Ross McGill, one of the most knowledgeable experts on the controversial U.S. tax compliance law that was signed into law ten years ago today. Here, McGill, the founder and chairman of Hampshire, England-based tax and regulatory specialists TConsult, and author of ten books on regulatory compliance, technology management, anti-tax evasion frameworks and withholding tax, considers the rather unpopular ten-year-old who was born a decade ago today in a rose garden, somewhere in Washington, DC.... 

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Opinion

AXFNJ webinar: How U.S. citizenship taxation has impacted one British lawyer, his family, and other countries' sovereignty

AXFNJ webinar: How U.S. citizenship taxation has impacted one British lawyer, his family, and other countries' sovereignty

John Richardson's latest podcast guest is, like Prince Harry, a British citizen who fell in love with, and married, an American.   Unlike the prince, however, "Peter", a retired solicitor, didn't return...

Jan-06-2021