The Association of Accidental Americans has filed an appeal with the Luxembourg Administrative Tribunal against a decision by the Luxembourg tax authorities not to halt transfers of the personal data of Americans resident in the country to the U.S., in compliance with FATCA.
Monte Silver, the Israel-based U.S. tax attorney who recently saw his and his company's legal attempt to challenge the Transition Tax element of former Donald Trump's 2017 Tax Cuts and Jobs Act dismissed on a technicality, says he's now decided to appeal the March 28 decision, and is inviting supporters and other expat small-business owners to help him finance it.
As we reported here last week, the U.S. Senate Finance Committee held a hearing last month on “How U.S. International Tax Policy Impacts American Workers, Jobs, and Investment." Many in the American expatriate community felt that the hearing focused almost exclusively on major U.S. corporations, with no mention made at all of America's 7 million to 9 million tax-paying expats, let alone the tax issues many of them struggle with...
On Friday, April 2, the Washington, D.C.-based Institute on Taxation and Economic Policy published a report that has rocked the American expatriate community, with its revelations that "at least 55 of the largest corporations in America paid no federal corporate income taxes in their most recent fiscal year, despite enjoying substantial pretax profits in the United States". The reason these expats were stunned is because many of them struggle with significant tax reporting obligations to the U.S...
FinCEN, the U.S. Treasury Department bureau that's best known to many American expats for its role in overseeing the receipt of Foreign Bank Account Reports each year, is seeking public comment on proposed measures it's considering introducing, as part of an overall U.S. strategy of requiring significantly greater reporting of beneficial ownership information.
Days after an American owner of a small business located outside of the U.S. lost his legal bid to fix what he said was the harsh and unfair treatment by President Trump's 2017 tax reform bill of small businesses like his, a new study reveals that at least 55 of America's largest companies paid no taxes last year on billions of dollars in profits – helped in part by the same Trump legislation.
Some 29 Swiss banks, including UBS, Credit Suisse, Julius Baer and J. Safra Sarasin, have been warned that they have until April 13 to provide the U.S. tax authorities with information on their U.S. account-holders, as part of Switzerland's agreement to comply with the American anti-tax evasion law known as FATCA.
As we reported here last week, the U.S. Senate Finance Committee held a hearing last month on “How U.S. International Tax Policy Impacts American Workers, Jobs, and Investment." Many in...
Apr-06-2021
