Expats worry about IRS crackdown, as Congress sends Inflation Reduction Act to Biden for enactment

Friday's approval by the House of Representatives of the Inflation Reduction Act had been expected, but this was scant reassurance to many expatriate Americans who, after years of dealing with the taxation complexities that go with living abroad as a result of such laws as the Foreign Account Tax Compliance Act, are wondering if the additional millions of fresh money that the act sets aside for the IRS will mean even more headaches for them. 

  • News

ACA to Treasury: 'de minimis rule' needed for GILTI and Transition Tax (and btw, RBT is needed too)

The American Citizens Abroad has written to seven top U.S. Treasury officials, including Treasury Secretary Janet Yellen and IRS Commissioner Charles Rettig, to urge it to "revisit" the way President Trump's 2017 Tax Cuts and Jobs Act is affecting the small- to medium-sized businesses owned by Americans overseas – in addition to urging them to take other actions, including "the true corrective measure" of switching the U.S. to a residence-based tax (RBT) regime.

  • Tax

ACA: Comments to Senate Finance Committee on 'Overhauling Int'l Taxation Framework'

On April 22, 2021, American Citizens Abroad submitted its comments to the Senate Finance Committee, in response to the committee's proposed framework for "investing in the American people by ensuring multinational corporations pay their fair share." 

Below, the ACA's comments in full, as written by ACA Executive Director Marylouise Serrato and ACA Legal Counsel Charles Bruce, who is also chairman of the ACA Global Foundation.

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Opinion

AXFNJ Podcast: Dubai private asset manager for U.S. expats Vince Truong explains why everyone needs ‘a financial roadmap in place’

AXFNJ Podcast: Dubai private asset manager for U.S. expats Vince Truong explains why everyone needs ‘a financial roadmap in place’

Hearing Americans who've been living abroad for 10 or more years, and sometimes for most of their adult lives, describe how they got there is always interesting, I find. Many...

Dec-15-2022