ACA in the News: The Future of Everything
The Wall Street Journal (January 14, 2021)
The Future of Everything
"American Citizens Abroad, an advocacy group in Washington, D.C., has been lobbying Congress to move toward a more residency-based approach to taxation. Its biggest victory so far was getting a North Carolina congressman to propose a bill in 2018 that would let expats that meet the definition of a 'nonresident citizen' avoid paying U.S. taxes on foreign-earned income.
'That was a huge win for the community because it acknowledged that there’s a problem,' says Marylouise Serrato, executive director of American Citizens Abroad.
The residency-based tax proposal never made it out of the House Ways and Means Committee, but the group is hopeful that an enduring telework trend could boost momentum behind a more expat-friendly taxing regime.
'If there’s a trend toward more remote work and more work outside the U.S., it will become more of an issue,' says Charles Bruce, legal counsel for American Citizens Abroad. 'We’re totally the outlier in the world.'"
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