On Wednesday (June 16), viewers of a "virtual" three-hour, full Senate Finance Committee hearing on the subject of President Biden's Fiscal Year 2022 budget were witness to a rare, 6 minute, 42-second exchange between Sen. Elizabeth Warren (D, Massachusetts) and Treasury Secretary Janet Yellen, about Elizabeth Warren's so-called "Ultra-Millionaire Tax."
While some expatriate Americans have been receiving and depositing or cashing their U.S. Economic Impact Payments without a problem, others continue to struggle. Fewer non-U.S. banks are willing to handle checks, while the IRS is still not sending money to expats’ overseas bank accounts...
As regular American Expat Financial News Journal readers will already know, Toronto-based American/Canadian lawyer John Richardson, pictured above left, is one of the most visible and outspoken crusaders on behalf of American expatriate issues on the global stage...
It's hardly a secret at this point that 2021 has been a bit of a struggle for the IRS. As we've been told, the reasons include – as with just about every government agency (and company) around the world – the pandemic, as well as, in the IRS's case, the need to distribute two new rounds of stimulus checks to millions of U.S. taxpayers around the world at short notice.
Over the last few years, thousands of so-called "accidental Americans" have quietly accepted the unexpected news that the U.S. considered them to be U.S. citizens, even though they had lived their entire lives as citizens of other countries, and as a result of this news, gone through the expensive business of complying with U.S. demands that they sort out their U.S. citizenship and tax situation.
On April 7, 2021, the Association of Americans Resident Overseas submitted its comments to the Senate Finance Committee, in response to the committee's review of U.S. international tax policy, and its impact on American workers.
Below, AARO's comments in full, as written by AARO president William Jordan; AARO vice president for advocacy Fred Einbinder; and AARO banking committee chair Paul Atkinson.
