After years of discussions between Israeli and U.S. officials, beginning on May 1 wealthy Israeli citizens who wish to live in the U.S. in exchange for investing a "substantial amount" of capital in a qualifying U.S.-based business will be able to do so, Israeli media organizations are reporting.
The Paris-based Accidental Americans Association filed a legal complaint yesterday against a number of French banks, alleging that the banks are actively discriminating against French citizens who also happen to have American citizenship, in violation of European banking laws.
Almost from the moment President Trump signed his Tax Cuts and Jobs Act into law on Dec. 22, 2017, the expatriate American-focused tax advisory industry has focused on its implications for those Americans with an ownership interest in an overseas company, and their consequent new tax obligations.
But that wasn’t the only aspect of the Tax Cuts and Jobs Act that has significant implications for Americans who live outside the U.S., Dubai-based tax expert Virginia La Torre Jeker, pictured above, says. Here, she addresses in detail how the TCJA impacts Americans overseas who own their own homes.
North Carolina Congressman George Holding's interest in the cause of American expatriates and their tax problems had its origins in numerous visits to the United Kingdom to see members of his family, because his wife, Lucy, happens to be British, according to Matt Stross, the Rep. Holding's tax counsel.
This was among a number of little-known facts that emerged during two webcasts held earlier this month in Geneva and Zurich, Switzerland, on the subject of Congressman Holding's bill, the so-called Tax Fairness for Americans Abroad Act (TFAA) by the American Citizens Abroad, in conjunction with the American Citizens Abroad Global Foundation.
The U.S. Internal Revenue Service, which has seen its operating budget slashed over the past eight or nine years, appears to be looking to increase its use of penalties against those non-U.S. resident taxpayers who fail to file documents or pay the taxes they owe on time, U.S. Tax and Financial Services Ltd founder and chief executive Darlene Hart says.
Skeet Kaye Hopkins, a London-based provider of a range of services to high- and ultra-high-net-worth clients in the entertainment industry, has agreed a merger with a Los Angeles-based multi-family office and business management firm, Gelfand, Rennert & Feldman, and in so doing expands the international footprint of New York's Focus Financial Partners Inc., the fast-growing wealth management partnership.