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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 …