Dutch news website picks up on anti-FATCA feeling in Europe

An English-language news website based in Amsterdam has become the latest non-U.S. media organization to highlight the struggles that overseas-resident Americans – "accidental or otherwise", as it says in its headline – are having, in dealing with the U.S. tax evasion-prevention law known as FATCA. 

  • News

ACA: 'TIGTA report on FATCA is further proof that Congressional hearings are needed now'

A major new U.S. Treasury Inspector General for Tax Administration (TIGTA) report released last week, detailing what it says are a number of shortcomings in the way the IRS has overseen compliance with FATCA since it was introduced in 2010, is the latest in a growing body of evidence of the need for Congressional hearings to be held into some of the taxation and citizenship issues America's expats are currently struggling with.

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U.S. TIGTA report finds 'actions needed' to fix FATCA compliance

A major report detailing what are said to be the compliance shortcomings of the Foreign Account Tax Compliance Act, just made public within the past 24 hours by the U.S. Treasury Inspector General for Tax Administration, has sparked interest and concern among FATCA-watchers around the world, including American expatriates and the tax experts, lawyers and political advocates who represent them.

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News of bank being required to pay damages for FATCA error seen potential new disincentive for banks to accept U.S. citizen clients

News that a French bank has been ordered to pay damages to a Canadian client whom it had erroneously thought to be American, and whose details it had thus transferred to the U.S. under FATCA, is being seen by some in the American expat community as yet another reason that banks and other financial services businesses may become even more wary of accepting American expats as clients going forward.

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IRS Commissioner Rettig sticks mainly to domestic tax issues during Ways and Means subcommittee hearing...

... but says greater resources needed 'to follow cross-border money flows'

American expats who tuned in last to last week's House Ways and Means Oversight Subcommittee hearing, in the hope of hearing IRS Commissioner Charles Rettig say something encouraging about plans to address their long-standing tax and FATCA-related issues, would have been disappointed, if not exactly surprised.

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Opinion

Essential Financial Acronyms for Americans Living Abroad

Essential Financial Acronyms for Americans Living Abroad

The American Expat Financial News Journal’s “Essential Financial Acronyms for Americans Living Abroad” is designed to help our fellow Yanks in Expatland to navigate the international seas of the financial...

May-05-2022