In the latest sign that governments are looking for ways to boost the monitoring of the wealth transference taking place across the rapidly-growing, global cryptocurrency network, the OECD on Monday released a public consultation document that it says is aimed at informing cryptocurrency industry stakeholders of the plans, as well as inviting them to comment on them.
Twelve years after President Obama signed the Foreign Account Tax Compliance Act into law – buried inside a domestic jobs bill known as the HIRE Act – legal and political challenges targeting certain of its key provisions are continuing to progress, albeit slowly, in various "hot spots" around the world.
And yet, one more year on, and Washington lawmakers have still done nothing to mitigate the difficulties that U.S. expats struggle with, as a result of FATCA, in spite of these expats' increasingly-exasperated calls, as well as yet more calls for change on the part of the U.S. from growing numbers of foreign government officials, especially in Europe.
Without really meaning to, many American expatriates as well as tax industry experts, lawyers and others have become experts on the subject of FATCA over the past decade-plus that it's been around.
So, as we did last year on this date, we thought it might be interesting to mark the occasion of FATCA's coming into force by compiling a list of twelve impossible-to-resist questions about it, in order to test just how well we've all been paying attention! (Spoiler alert: Most of these are from last year, although some of the answers may have changed, and a few are new...) See below...
Citigroup, the New York-based, NYSE-listed, multinational banking company that's ranked among America's "Big Four" banking institutions, has said it is to establish a new "hub" in the popular Costa del Sol city of Málaga, in order to offer certain of its younger employees a better work-life balance.
MASECO Private Wealth, the London-based wealth management firm which specializes in looking after high-net-worth American expats in the UK and Hong Kong, has named Damian Barry to the role of chief investment officer.
The IRS has formally reminded U.S. taxpayers not to ignore a virtual currency question at the top of the tax returns they're currently preparing to file, for the 2021 tax year.
Charles P. Rettig, the chairman of the U.S. Internal Revenue Service since October, 2018, is due to participate in the latest hearing on U.S. tax issues by the House Ways and Means Oversight Committee, scheduled to take place today (March 17).
The American Expat Financial News Journal’s “Essential Financial Acronyms for Americans Living Abroad” is designed to help our fellow Yanks in Expatland to navigate the international seas of the financial...
May-05-2022
