Concern among American expat small-business owners over proposed GILTI law tweak by U.S. lawmakers

Concern among American expat small-business owners over proposed GILTI law tweak by U.S. lawmakers

American expatriates who own small- and medium-sized small business corporations outside the U.S. are expressing growing concern over what they say is a move by two Washington lawmakers to legislatively reverse a 2019 interpretation by the U.S. Treasury of elements of President Trump’s Tax Cuts and Jobs Act, which had been meant to help such individual owner/operators of such small, non-U.S. businesses, who had originally been hard-hit by the Trump legislation.

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DC tax law expert named to head up ACA's Global Foundation

DC tax law expert named to head up ACA's Global Foundation

Glen Frost, managing partner of Frost & Associates LLC, a Washington, DC-area tax law specialist with six offices in the greater District of Columbia/Maryland and Virginia area, has been named president of the American Citizens Abroad Global Foundation (ACAGF), the sister educational and research organization to American Citizens Abroad.

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Latest ACA podcast: Overseas Vote's Susan Dzieduszycka-Suinat

Latest ACA podcast: Overseas Vote's Susan Dzieduszycka-Suinat

Susan Dzieduszycka-Suinat, who heads up the Washington, DC-based U.S. Vote Foundation and its initiative aimed at expats, Overseas Vote, is the subject of the American Citizens Abroad's latest monthly podcast, on topics of interest to Americans resident outside of the U.S.

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U.S. charges Russian bank exec over failure to pay expatriation tax

U.S. charges Russian bank exec over failure to pay expatriation tax

The U.S. Justice Department has formally charged a Russian billionaire currently resident in the UK with failing to pay a tax on his worldwide assets when he renounced his U.S. citizenship, days after his company's initial public offering in 2013, according to government documents and media reports.

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Democratic presidential candidate Bernie Sanders

Concerns over Sanders's proposed 'exit tax', as Dems' prez primary field shrinks to 2

As the list of Democratic Party candidates still in the running for this year's U.S. presidential election has narrowed within the last few days to just two, some in the American expat community have begun expressing concern over a Bernie Sanders proposal to tax "all wealthy individuals" who might seek to relinquish their U.S. citizenships once his proposed "Wealth Tax" came into force, if he were elected.

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Tax experts critical of, and/or baffled by, new IRS effort to exempt some foreign trusts from info reporting

Tax experts critical of, and/or baffled by, new IRS effort to exempt some foreign trusts from info reporting

Days after the IRS announced a new "revenue procedure" it said would "exempt from foreign trust information reporting requirements certain U.S. individuals' transactions with, and ownership of, certain tax-favored foreign trusts", some tax experts have been coming forward to express doubts about whether the new "procedure" would achieve much, if anything.

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Tax

Tax experts critical of, and/or baffled by, new IRS effort to exempt some foreign trusts from info reporting

Tax experts critical of, and/or baffled by, new IRS effort to exempt some foreign trusts from info reporting

Mar-06-2020

Legislation

Confirmed – Rep. Holding to leave Congress at end of 2020, after reintroducing Tax Fairness for Americans Abroad Act

Confirmed – Rep. Holding to leave Congress at end of 2020, after reintroducing Tax Fairness for Americans Abroad Act

Dec-07-2019

Opinion

Opinion: Give trapped Americans abroad a break this tax season

Opinion: Give trapped Americans abroad a break this tax season

The spread of the deadly COVID-19 pandemic is wreaking havoc on most Americans’ finances, prompting the federal government to delay 2019 tax filing and payment due dates to July 15.  Here, Ross...

Mar-28-2020