IRS issues 'temporary relief' (through 2024) for banks of 'accidental Americans' who lack TINs

The Internal Revenue Service has quietly announced that it is introducing "temporary U.S. Taxpayer Identification Number (TIN) relief" for non-U.S. banks and other "foreign financial institutions" located in certain countries, so that they won't be deemed to be in "significant non-compliance" of their obligations under the U.S. tax evasion-prevention law known as FATCA, because one or more of their apparently American citizen account-holders say they're unable to provide them with their U.S. taxpayer identification number (TIN).

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Donald Trump held overseas bank accounts while president, just-released tax returns reveal

Former U.S. president Donald Trump held overseas bank accounts while he was in office – in Ireland, the UK and China, between 2015 and 2017 – various media organizations have been reporting today, as details of Trump's personal and business finances continued to emerge, in the wake of Friday's release of his tax returns after a years-long legal battle.

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U.S. and Argentina agree FATCA IGA at last

(...but it's said no more reciprocal than other Model 1 IGAs)

Argentina has at last agreed a FATCA Intergovernmental Agreement (IGA) with the U.S. government, according to a statement on the website of the U.S. Embassy in Argentina, tax industry sources, and news reports in that country.

Until now, Argentina had not participated in the U.S. Foreign Account Tax Compliance Agreement program, which was signed into law in 2010, and came into force in 2014.

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AXFNJ Podcast: Dubai private asset manager for U.S. expats Vince Truong explains why everyone needs ‘a financial roadmap in place’

Hearing Americans who've been living abroad for 10 or more years, and sometimes for most of their adult lives, describe how they got there is always interesting, I find. Many people's stories, of course, tend to be variations on a couple of predictable themes (work reasons, falling in love with someone from the country in question, etc.).

Vince Truong, however, says he was drawn to Dubai by an article he read...

Social Security Admin responds to questions raised about the 'Expat Retirement Surprise'

 As regular readers of the American Expat Financial News Journal may recall, a story about U.S. Social Security benefits that we ran in October highlighted the fact that many expats are surprised to discover, when they formally apply to begin receiving their Social Security payments, that they are line to receive significantly less than they say they had been led to believe they'd be getting. 

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Ross McGill: ‘FATCA isn’t the problem: CBT is’ 

Ross McGill: ‘FATCA isn’t the problem: CBT is’ 

In the early years of this century, a number of major media exposés reported how Homeland Americans, as well as rich people from other developed and developing countries, were making...