Attention, American owners of non-U.S. small businesses that are being "badly impacted by the 2017 Tax Cuts and Jobs Act's so-called GILTI tax: The Democrats Abroad want you... Or, well, they might...
In a ruling that has surprised many in the expatriate American community, a U.S. District Court in Washington, D.C. has officially declared Tel Aviv-headquartered U.S. tax attorney Monte Silver and his company "lack constitutional standing to pursue their claims" – thus ending, at least for now, Silver's feisty effort to force the U.S. Treasury to take small overseas businesses owned by Americans into account in its enforcement of President Trump's Tax Cuts and Jobs Act.
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.
In the early years of this century, a number of major media exposés reported how Homeland Americans, as well as rich people from other developed and developing countries, were making...
Mar-18-2023
