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.
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...
The American Expat Financial News Journal, like many media organizations, often hears from readers who are at a loss as to whom else they can turn to, having exhausted what they believe to be all the avenues open to them to resolve their problems...
Having been born in Australia and lived her whole life there, "Amy," as she wishes to be known here, had no idea that her life was about to be turned upside-down, and changed forever, in March, 2020, when someone from her bank said that they needed to ask her to fill in some details having to do with her citizenship.
Then suddenly, Amy says, her "OMG Moment" – as it's often referred to by accidental Americans, a group which Amy was soon to discover she was a member of – arrived...
