The U.S. has overtaken Switzerland in the London-based Tax Justice Network's "Financial Secrecy Index", published today, but the top spot this year has been awarded to the Cayman Islands.
The U.S. Treasury is continuing to maintain its silence with respect to the issues European banks have been struggling with for months over their perceived need to report to the U.S. – under the tax evasion law known as FATCA – government tax information details on certain of their American account-holders that they don't have, European banking sources, expat groups and others report.
This is in spite of the fact that so-called "accidental Americans" in Europe are continuing to have their non-U.S. bank accounts frozen in cases where their banks say they have failed to provide "Tax Information Numbers" (TINs, typically Social Security numbers) as the banks say FATCA requires them to have as of the end of last year, according to sources in the accidental American community.
Once again, the number of individuals whose names appeared on the latest U.S. government "Quarterly Publication of Individuals, Who Have Chosen to Expatriate" is being questioned for seeming to contain far fewer names than it should – and in particular, for still not containing the names of certain individuals whose Certificates of Loss of Nationality (CLNs) were issued more than a year ago.
It’s that time of year again – and we're not talking here about Groundhog Day, Valentine's Day, ski season or Mardi Gras. Rather, we're referring to that time of the year when Americans resident overseas begin gathering together the various documents they will be needing to file their 2019 U.S. tax returns in a few months' time.
Below is a tax document checklist provided to us by Peggy and Chad Creveling, the husband-and-wife team behind Bangkok's well-known Creveling & Creveling Private Wealth Advisory, which they say is meant to give expats a "starting point" for their annual tax document assembling ritual...
Just which candidate for U.S. president would be the best for America's estimated 9 million citizens who reside overseas anyway?
It certainly is not an easy question to answer, given that without exception, the candidates are more interested in Homeland voters than in the relatively-small expat contingent – even if, in fact, 9 million is more than the population of all but 10 U.S. states.
Nevertheless, as a service for our readers – and with their help – we present the following compilation of where the various candidates currently running for president stand on seven key issues that matter to Americans resident abroad.
The frustration and anger that American expats living mainly in Canada and certain countries in Europe have been expressing ever since the Foreign Account Tax Compliance Act was signed into law in 2010 is emerging for the first time in the Middle East, an article published today by one of the region's better-known media organizations has revealed.