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.

Campaigners for fairer treatment for American citizens abroad are claiming a victory this morning, as news emerged that the U.S. Treasury had finally cut owners of small businesses located abroad some slack yesterday, by enabling such individuals to choose to be treated like a corporation for tax purposes, and thus reduce their tax burden.

Liz Zitzow, an American resident in London who runs a tax advice business for American expats, says the U.S. Treasury plans to announce “some good news on Monday” with respect to the recently-introduced global intangible low-taxed income (GILTI) tax, which has been causing major problems for many Americans who own small businesses outside of the U.S.

While sources in Washington continue to suggest that tweaks may yet be made to Donald Trump’s 2017 tax overhaul, U.S. taxpayers, and their accountants, are having to get on with filing their 2018 tax returns...

The National Taxpayer Advocate's latest Annual Report to Congress largely ignores the struggles American expatriates have been facing, an examination of the various documents that comprise it reveals.

The U.S. Department of the Treasury is planning to address a much-criticised aspect of the Tax Cuts and Jobs Act that currently would see individual American taxpayers facing potentially higher taxes on their overseas income, a report published on Thursday said, citing a Treasury official. 

An American citizen living in Israel has filed a lawsuit against the U.S. Internal Revenue Service and Treasury Department, challenging  a key component of President Trump's December 2017 tax reform legislation, as it applies to controlled foreign corporations. 

The Democrats Abroad, which represents members of the U.S. Democratic Party who are resident overseas, has launched a major research project it says is aimed at gathering information it plans to use in its efforts to reform the way American expats are currently taxed.

American owners of small businesses who are resident outside of the U.S. are reacting with frustration, and in some cases dismay, to the news that the U.S. government has published its final draft of the so-called Transition Tax element of Donald Trump’s Tax Cuts and Jobs Act without taking into account concerns about what the legislation would do to them.