Tax

Retired, 'unintentionally American' former KLM pilot may lose bank account due to FATCA

Ronald Ariës is a 62-year-old Dutch citizen, who is retired from KLM, the Dutch airline. He is one of "dozens" of Dutch citizens who have been told that they "will soon lose their bank accounts" because they are "unintentionally American", but are resisting their banks' insistence that they formalize their…

October 22, 2020
Tax
By Helen Burggraf

Jan. 22, 2020 meeting of accidental Americans with Dutch lawmakers in Tweede Kamer, The Hague

Dutch finance minister’s answers to latest questions leave already-frustrated ‘accidentals’ reeling

A nine-page response by Dutch Finance Minister Wopke Hoekstra to the latest batch of questions put to him by a Dutch parliamentarian sympathetic to the banking problems so-called “accidental Americans” have been struggling with has left many of those accidentals stunned and frustrated, they say.

October 14, 2020
Tax
By Helen Burggraf

Concern over FBAR data confidentiality in wake of ‘FinCEN Files’ exposé

As American expats and their tax preparers come down to the final stretch of the Oct. 15 Foreign Bank Account Reports (FBAR) deadline, concerns are emerging over whether the data they’re about to send to the U.S. could, at some point, fall into the wrong hands.

September 29, 2020
Tax
By Helen Burggraf

IRS adds languages, digital-signing capability to key forms

As part of what it says is an "effort to reach under-served communities", the Internal Revenue Service is beginning to provide "information and assistance" to taxpayers in languages other than just English, as well as making certain key documents, such as the basic 1040 tax return form, available in Spanish.…

September 21, 2020
Tax
By staff writer

Andersen Global adds outposts in Jamaica, St. Kitts and Nevis

Andersen Global, the San Francisco-based organization of legally-separate tax and legal services firms that evolved out of a part of the now-defunct Arthur Andersen accountancy firm, has added two more jurisdiction to its growing Caribbean portfolio of outposts, with the signing of "collaboration agreements" with St. Kitts and Nevis-based HazelAlleyne, …

September 17, 2020
Tax
By staff writer

Funding concerns loom for 'Jenny' as clock ticks on her possible UK FATCA appeal

Just when it was beginning to seem that a challenge to the U.S. tax evasion law known as FATCA actually had a chance of getting somewhere, a lack of financing has emerged as an issue...

August 26, 2020
Tax
By Helen Burggraf

Online course in September for advisers seeking to know more about advising U.S. expats

DJH International Tax, a UK-based, American expat tax specialist firm, and Toronto-based U.S. citizenship and tax lawyer and commentator John Richardson, will be holding an online training course in September that will be aimed at financial advisers keen to learn more about advising American clients resident overseas on such issues…

August 11, 2020
Tax
By staff writer

Tax webinar: 'What the two recently-published final GILTI regs mean for expat biz owners, tax pros'

Monte Silver, the Israel-based American tax attorney best known recently for his efforts aimed at forcing U.S. officials to fix a number of apparently unintentional but significant consequences for small business owners that were contained in President Trump's 2017 tax reform legislation, will host a free, two-part webinar on the so-called…

July 23, 2020
Tax
By staff writer

A Reader Asks: ‘I’m dying to vote in the U.S. prez election! But will Uncle Sam come after me if I do?’

In the latest in our series of ‘A Reader Asks’ questions, a 30-something American expatriate who has been living in London for most of her life says she is really keen to vote in the forthcoming election – but she’s wary, as she’s heard that she might attract unwanted attention…

July 22, 2020
Tax
By Katelynn Minott

'Partial' GILTI tax victory seen in latest Treasury regs regarding 'high-tax exceptions' for foreign corporations

The U.S. Treasury Department on Monday issued what it said was a "final regulation" addressing how income earned by foreign corporations that has already been subject to a high rate of foreign tax may declared, in order to "allow taxpayers to exclude certain high-taxed income of a controlled foreign corporation…

July 21, 2020
Tax
By staff writer

China reported to begin citizenship-based tax collecting in Hong Kong, as experts ponder Beijing's plan

China has begun coming after some of its citizens living abroad to collect taxes – making good on its previously-disclosed plans to get some of its taxpayers who are resident outside of the country to contribute to their home country’s tax coffers, Bloomberg, the South China Morning Post and other…

July 15, 2020
Tax
By Helen Burggraf

More...

Little-known Irving Berlin song celebrates payment of one’s taxes

If the U.S. Internal Revenue Service has recently issued a call for a songwriter to come up with a melody celebrating the paying of one’s income taxes, we aren’t aware of it. Back in 1942, though, Irving Berlin apparently didn’t even need to be asked to write I Paid My…

July 14, 2020
Tax
By Helen Burggraf

IRS audit campaign of HNW individuals, related entities to launch on July 15

The Internal Revenue Service will start examinations of several hundred high-net-worth (HNW) taxpayers beginning July 15, according to media reports and press releases by tax preparation companies with high-net-worth and large and international businesses.

July 11, 2020
Tax
By staff writer

Texas Court rules 'non-willful penalty' should apply 'per FBAR' not per account

In a case experts say has potentially major repercussions for expatriate Americans, the U.S. District Court for the Eastern District of Texas has ruled that the penalty for so-called "non-willful violations" of the U.S. Foreign Bank Account Reporting regulations should be calculated on a "per-FBAR", rather than per account, basis.

July 8, 2020
Tax
By Helen Burggraf

Andersen Global enters Caribbean market via collab agreement with Puerto Rican BDO tax firm

Andersen Global, the San Francisco-based organization of legally-separate tax and legal services firms that evolved out of a part of the now-defunct Arthur Andersen accountancy firm, has unveiled what it calls a "collaboration agreement" with a San Juan, Puerto Rico-based tax firm that it says will mark its entry into…

July 6, 2020
Tax
By staff writer

Tax