Tax

AXFNJ webinar: What, if anything, does California’s proposed wealth tax mean for taxpayers, post-Covid-19?

As tax experts, academics and others ponder the extent to which governments around the world are likely to introduce taxes aimed specifically at the wealthy – as these governments begin to attempt to repair their severely-damaged finances – our roving, Toronto-based webinar correspondent, John Richardson, interviews Chapman University professor Hank…

January 1, 2021
Tax
By staff writer

European Parliament hearing on FATCA last year in Brussels

EU Council's Kreienbaum, to IRS Commissioner Rettig: We need to talk about FATCA

The head of the German Presidency of the EU has written a strongly-worded letter to the head of the U.S. Internal Revenue Service on the subject of the U.S. law known as FATCA, and what he calls "the continuing challenges EU residents with U.S. citizenship are encountering in connection with…

December 17, 2020
Tax
By Helen Burggraf

More Dutch banks turning away 'unintentional Americans', latest NRC Handelsblad report reveals

Two of the Netherlands' largest banks, ABN AMRO and Rabobank, are also prepared to close the bank accounts of "unintentional Americans" if these individuals "do not cooperate with the U.S. requirements" that they provide tax information numbers, such as a Social Security number, or evidence that they have entered into…

December 7, 2020
Tax
By Helen Burggraf

London Times informs retired UK military officer: His 44-yr-old daughter is 'accidental American'

An advice columnist for the London Times newspaper's Money section has informed a retired U.K. Army officer who wrote to the paper that his 44-year-old daughter, born in Colorado when he was on a two-year posting there, is an "accidental American", who will have to pay thousands of dollars to…

December 5, 2020
Tax
By Helen Burggraf

Now France's Senate to consider FATCA reciprocity amendment to 2021 Finance Bill

Less than two weeks after the sponsors of a proposed amendment to France's 2021 Finance Bill that would have obliged the U.S. to reciprocate with respect to the information it currently receives from France under FATCA withdrew it from consideration at the last minute, three members of the French Legislature's…

November 26, 2020
Tax
By Helen Burggraf

Dutch Finance Minister Wopke Hoekstra, pictured during Tuesday's hearing on FATCA

Dutch lawmakers vow to call on EU Commission to raise FATCA issue (again) with U.S.

Dutch lawmakers said on Tuesday that they plan to join forces with their French counterparts in asking the EU Commission to once again raise with the U.S. the issue of the problems some of their citizens are having with their financial accounts, as a result of the U.S. tax evasion-prevention…

November 25, 2020
Tax
By Helen Burggraf

U.S. district court rules key retroactive element of Trump's TCJA is constitutional

In what some are seeing as a blow to countless thousands of Americans who own stakes in non-U.S. corporations – including expats as well as Homelanders – a federal court in Washington state ruled on Thursday that a key retroactive element of President Trump's controversial, 2017 Tax Cuts and Jobs…

November 23, 2020
Tax
By Helen Burggraf

Friday's hearing of the French National Assembly, on the 2021 finance bill

Frustration for France's Américains Accidentels as FATCA reciprocity amendment fails to advance

A planned amendment to a bill currently making its way through France's legislature that would have mandated a change in an existing FATCA "intergovernmental agreement" currently in place between France and the U.S. – which would have obliged the U.S. to provide the same information to France about its citizens' U.S.…

November 16, 2020
Tax
By Helen Burggraf

Webinar: 'Sales tax issues for global e-commerce companies that sell to U.S.-based customers'

In June, 2018, cross-border tax experts issued their first warnings that a then-just-passed U.S. Supreme Court ruling, in a case known as South Dakota v. Wayfair, would have far-reaching effects on e-commerce businesses that sold their products across U.S. state borders – including those selling into the U.S. from abroad.…

November 16, 2020
Tax
By staff writer

Marc Le Fur, left, and Laurent Saint-Martin

France's National Assembly to discuss FATCA reciprocity proposal on Friday

France's National Assembly is set to meet tomorrow to discuss a plan calling for a change to an existing "intergovernmental agreement" currently in place between France and the U.S. – introduced to enable French financial institutions to comply with the U.S. anti-tax evasion law known as FATCA – that would oblige…

November 12, 2020
Tax
By Helen Burggraf

Isaac Brock's Kish unearths U.S. Treasury report calling for 'more enforcement' of citizenship expatriation tax compliance

A U.S. Treasury report calling for "more enforcement and a centralized compliance effort" to deal with the large numbers of American citizens who are currently expatriating every year, to ensure that they're all paying the required amount of exit tax as they leave, has been discovered its contents made public…

November 6, 2020
Tax
By Helen Burggraf

More...

23-page EU Council 'working paper' on AEOI regs emerges, prompting concerns

A "Working Paper" issued by the European Council on Sept. 11, four days before the European Data Protection Board was due to meet to discuss how the EU should best prepare to participate in the worldwide move towards ever-greater automatic exchange of information, is being seen by some observers as…

November 5, 2020
Tax
By staff writer

IRS issues new Economic Impact Payments 'text scam' alert

The U.S. Internal Revenue Service issued a warning on Wednesday of a new "Covid-related text scam" that it said has been "created by thieves [to] trick people into disclosing [their] bank account information" by making them believe that it will result in their receiving the US$1,200 Economic Impact Payment (EIP).

November 5, 2020
Tax
By staff writer

New anti-extraterritorial taxation expat organization forms; launches survey

Stop Extraterritorial American Taxation, or SEAT, is the name of a new education and advocacy organization that's been formed by a half a dozen individuals who are already well known in the community of Americans living overseas. As part of its launch, the international not-for-profit group, which is based in…

October 22, 2020
Tax
By Helen Burggraf

Helma Lodders, of the People's Party for Freedom and Democracy

Dutch media, politicians' focus returns to Dutch 'accidentals' and their bank account issues

A hard-line written response by Dutch Finance Minister Wopke Hoekstra to the latest in a series of questions put to him and other Dutch officials over the past two years, about the banking problems so-called “accidental Americans” have been struggling with, has thrust the issue back into the media spotlight in the…

October 22, 2020
Tax
By Helen Burggraf

Tax