A few days before President Biden's latest package of proposed changes to the existing U.S. tax regime – his so-called 2023 Green Book – was unveiled last month, Bloomberg Tax published a powerful opinion piece by Bill Pascrell Jr., chairman of the House Ways & Means Committee's Subcommittee on Oversight and a long-serving Democratic New Jersey member of the U.S. House of Representatives.
U.S. Internal Revenue Service Commissioner Charles Rettig may have focused on Homeland tax issues during a House Ways and Means Oversight Subcommittee hearing on "the 2022 Filing Season" last month, as reported. But interested stakeholders were invited to submit written comments for inclusion in the hearing record, and among those to do so – and in so doing, introducing the tax-filing issues currently facing millions of U.S. taxpayers who live overseas – was the American Citizens Abroad, the Washington, D.C.-based advocacy organization.
Eden Woon, a U.S. citizen who is president of the Asian Institute of Technology (and who also happens to be fluent in both Mandarin and Cantonese), will succeed Tara Joseph as president of the American Chamber of Commerce in Hong Kong, AmCham HK has announced.
The change will take place on Sept. 1, when Joseph's five year term is set to end, the organization said in a statement.
A long-awaited appellate court hearing in a years-long challenge of Canada's Foreign Account Tax Compliance Act-implementation legislation is set to get underway today, in a hearing room in Canada's Federal Court of Appeal in Vancouver, British Columbia.
From the moment President Biden's latest proposed package of taxes and changes to existing regulations aimed at America's wealthiest taxpayers in particular went live on Monday, U.S. wealth managers and tax advisers have been trawling through its pages, to get a sense of the scale and nature of the changes that may lie ahead...
To the surprise of many businesses and observers across Europe, few of whom had seen it coming, U.S. and European Union officials said today that they had reached a preliminary agreement on a new data privacy deal, to replace the long-standing agreement that had been declared illegal in July, 2020 by the EU Court of Justice.
News that a French bank has been ordered to pay damages to a Canadian client whom it had erroneously thought to be American, and whose details it had thus transferred to the U.S. under FATCA, is being seen by some in the American expat community as yet another reason that banks and other financial services businesses may become even more wary of accepting American expats as clients going forward.
More American expats are familiar these days than they used to be with Foreign Bank Account Reports (“FBARs”), aka FinCEN Form 114s – which need to be filed by American...
Apr-07-2022
