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ACA in the News: Millions of Americans have left the country. Where are they going, and why?

The Washington Post (December 23, 2022) Millions of Americans have left the country. Where are they going, and why?   "The U.S. government does not keep a close count of Americans who have left the country; few governments do. The State Department asks some expatriates to register, but it does not maintain comprehensive, up-to-date directories. So, to count emigrants, we need a little help from our friends. Or at least from their statistical agencies. The United Nations and World Bank collect data on foreign-born populations from local censuses and surveys all over the world, and use them to estimate migration patterns between more than 200 countries and localities. By their estimate, the population of American-born people abroad sat around 2.8 million as of 2020. To keep their measurements consistent across countries and time periods — and to avoid double-counting millions …


ACA Shares "In Praise of Postponement: What Dutch Banks Tell Us About FATCA"

  “In Praise of Postponement: What Dutch Banks Tell Us About FATCA” Tax Notes Today International, FATCA Expert, Tax Notes Today Global and Tax Notes Today International, October 3, 2022 Robert Goulder of Tax Notes International recently wrote an article, In Praise of Postponement: What Dutch Banks Tell Us About FATCA. His article highlights the issues facing individuals who are losing foreign banking services due to U.S. legislation; The Foreign Account Tax Compliance Act or FATCA. Goulder notes that there are corrective measures to FATCA and echoes ACA's call for "Same Country Exemption (exclusion)” and replacing the current U.S. tax regime with residence-based taxation. Goulder also proposes having the U.S. adhere to the OECD "common reporting" standards. "The ongoing postponements make sense if the long-term plan is for Congress or Treasury to fix FATCA. Off the top of my head, …


ACA in the News: Proposed legislation would address the ‘Expat Retirement Surprise’, but some say SS solvency concerns could keep it from passing

The American Expat Financial News Journal (October 9, 2022) Proposed legislation would address the ‘Expat Retirement Surprise’, but some say SS solvency concerns could keep it from passing…and just-revealed setback to bill’s progress has sparked calls for a write-in campaign by American Citizens Abroad "According to ACA executive director Marylouise Serrato, in order to get the bill back onto the calendar for a House vote, a “discharge petition” has been filed, which the Washington, DC-based ACA noted “needs 218 votes to pass.” (Currently, according to a website page which tracks the progress of this petition, the petition has just 24 signatures.) In response, ACA has launched a write-in campaign  calling for the repeal of WEP,” in order to help get the needed signatures for the discharge petition in time to ensure a House vote can go ahead." Read more...


ACA in the News: The Comin' Home Podcast with John Alan September 2, 2022

The Comin' Home Podcast with John Alan (September 2, 2022) TAXES! American Citizens Abroad want Residence-Based Taxation - ep.186 with Marylouise Serrato "When it comes to taxes, did you know that American citizens who live abroad have to file taxes in their country of residence AND the IRS wants them to also file taxes in the USA? This is called CITIZEN-BASED TAXATION, and the USA is one of only two nations that tax their citizens in this way. Many of these American Citizens who live abroad own no property or assets in the United States, and have no connection to the USA other than their citizenship. How about RESIDENCY-BASED TAXATION? The non-profit organization American Citizens Abroad has done some research on this taxation issue, and Marylouise Serrato speaks with me about it in this episode. Marylouise Serrato is the Executive …


ACA in the News: American Citizens Abroad highlights its recent findings on U.S. adoption of RBT

The American Expat Financial News Journal (August 25, 2022) ICYMI: American Citizens Abroad highlights its recent findings on U.S. adoption of RBT       "As growing numbers of expatriate Americans are calling on U.S. lawmakers to replace America's problematic citizenship-based tax regime with a system that's based on a taxpayer's current country of residence, the Washington, DC-based American Citizens Abroad is urging expats, members of Congress and others to revisit its most-recent research report – which ACA officials say has some of the best data anywhere on the subject. " Read more...


ACA in the News: Defense Bill Amendment Would Offer FATCA Same-Country Exception

  Tax Notes International, July 12, 2022, Pg. 4923-4924 Defense Bill Amendment Would Offer FATCA Same-Country Exception by Andrew Velarde     "An amendment to the National Defense Authorization Act offered by a high-ranking House Democrat would provide a long-sought-after same-country exception from the Foreign Account Tax Compliance Act, though questions remain on practical implementation."   "House Oversight Committee Chair Carolyn B. Maloney, D-N.Y., offered an amendment to the mustpass legislation sometime after July 5. If included in the legislation, it would modify sections 1471(d) (1) (withholding to a foreign financial institution) and 6038D (information reporting) to provide an exception for some individuals living abroad."   "Maloney has been pushing for some relief from FATCA for overseas Americans for years. In 2015 she and several other lawmakers asked the IRS to provide an exception from FATCA reporting for financial accounts from countries where U.S. citizens are bona …