For Israel-based American tax law specialist Monte Silver, what was to turn out to be one of the key components of his legal challenge against President Donald Trump's 2017 Tax Cuts and Jobs Act didn't exactly leap from the 250 pages of the final draft of the regulations, as he first studied them after they were issued in August 2018...

With the New Hampshire Democratic Primary set for next Tuesday, and, as reported, the Democrats Abroad's Global Presidential Primary scheduled for March 3 to 10, expats are increasingly desperate to know where the candidates stand on such key issues as FATCA, citizenship-based taxation and President Trump's Tax Cuts and Jobs Act.

None of the candidates thus far, however, has shown quite the same level of enthusiasm for going on the record in detail with respect to their positions on such topics...

Weeks after a U.S. District Court in Washington, D.C. ruled in his favor by denying a U.S. government effort to prevent him from legally challenging a key component of President Trump's December 2017 tax reform legislation, Tel Aviv-headquartered U.S. tax attorney Monte Silver has unveiled plans to undertake a  global road trip, to "meet all those who have supported the cause".

A U.S. District Court in Washington, D.C. said on Tuesday that it "reject[ed]" claims by the Internal Revenue Service that Tel Aviv-headquartered U.S. tax attorney Monte Silver and his fellow plaintiffs  "lacked standing" to challenge a key component of President Trump's December 2017 tax reform legislation, as it applies to controlled foreign corporations. 

Silver called the ruling a "massive win" for him and other small business owners impacted by Trump's Tax Cuts and Jobs Act, because it meant that his potentially "precedent-setting case" can now go ahead. 

Israel-based U.S. tax attorney Monte Silver has formally countered the Internal Revenue Service’s motion earlier this month to dismiss his and his company's ongoing lawsuit that challenges a key component of President Trump's December 2017 tax reform legislation.

The Internal Revenue Service has moved to dismiss a lawsuit brought five months ago by Israel-based U.S. tax attorney Monte Silver – which challenged a key component of President Trump's December 2017 tax reform legislation as it applies to controlled foreign corporations – on grounds that Silver and his fellow plaintiffs in the matter "lacked standing."

President Trump's Tax Cuts and Jobs Act 2017, which took effect on Jan. 1, 2018, has been a huge issue for many Americans who own as little as 10% of a small overseas business. Caught up in a clumsy legislative effort aimed at such large multi-national American companies as Google and Apple, these small business owners are, as has been frequently reported by this media organization and others, being forced to pay a 17.5% transition tax on income from their small business entities that dates back as far as the 1980s. 

Monte Silver, a well-known expert on – and critic of – President Trump’s Tax Cuts and Jobs Act, and the so-called GILTI tax it contains, will host a live webinar on that controversial legislation next Thursday.

Proposed rule changes to the way “foreign income” earned by “Controlled Foreign Corporations” would be taxed by the U.S. would be good news for American taxpayers living in high-tax countries, tax experts have said.

Almost from the moment President Trump signed his Tax Cuts and Jobs Act into law on Dec. 22, 2017, the expatriate American-focused tax advisory industry has focused on its implications for those Americans with an ownership interest in an overseas company, and their consequent new tax obligations.

But that wasn’t the only aspect of the Tax Cuts and Jobs Act that has significant implications for Americans who live outside the U.S., Dubai-based tax expert Virginia La Torre Jeker, pictured above, says. Here, she addresses in detail how the TCJA impacts Americans overseas who own their own homes.