A draft edition of the Democratic Party’s 2020 policy platform, published last week in advance of the party’s scheduled National Convention next month, contains none of the issues expats and the groups representing them have been calling for – including a call for replacing the citizenship-based tax regime with one based on residency.
China has begun coming after some of its citizens living abroad to collect taxes – making good on its previously-disclosed plans to get some of its taxpayers who are resident outside of the country to contribute to their home country’s tax coffers, Bloomberg, the South China Morning Post and other major media organizations have reported over the last few days.
Under pressure from European banks in particular, the U.S. Internal Revenue Service has issued clarification with respect to a FATCA requirement that "foreign financial institutions" be obliged to provide the so-called Tax Information Numbers of their American clients from January, 2020 onward, which tax experts say means that banks now won't have to close the accounts of their TIN-lacking "accidental American" clients at the end of this year.
New York Representative Carolyn Maloney, a Democrat who is co-chair of a Congressional group known as the Americans Abroad Caucus, is planning to re-introduce two bills of interest to Americans abroad, one of which calls for the creation of a "standing commission" that would review all laws that are currently having an adverse impact on Americans resident abroad, and also work to prevent new laws from being enacted that inadvertently harm non-resident Americans.
The Democrats Abroad, the official organization of the Democratic Party for American citizens living permanently or temporarily outside of the U.S., has reported that it is in discussions with Virginia Rep. Don Beyer on a range of issues, including residence-based taxation (RBT).
Two citizenship experts will debate the merits of citizenship-based tax regimes this Friday, in what is being billed as a “YouTube Live Stream event,” sponsored by a U.S.-based tax industry news website.
The American Citizens Abroad has called on an influential U.S. congressional committee to end the current system of taxing U.S. expatriates on the basis of their citizenship, as part of the committee's planned revisions of last December’s sweeping tax reform bill.
Nov. 3, the date of the 2020 U.S. presidential election, is two weeks and one day away. Many expats will have voted by now, but for those who haven't –...
Oct-19-2020
