Skip to main content
U.S. Bank Account
Newsletter
Donate
Join
Login

Articles

  • Select a valid choice. aca in the news is not one of the available choices.
Group:
29 Articles Found

ACA in the News: Belgium Prohibits Transfers of Tax Data to IRS Under FATCA

Tax Notes Today International, May 25, 2023   "Belgium Prohibits Transfers of Tax Data to IRS Under FATCA" by Kiarra M. Strocko   "The Belgian tax authority will need to consider what steps to take if this ruling is to be implemented, said Charles Bruce of American Citizens Abroad. FPS Finance 'will be talking with U.S. Treasury, and the Belgian banks and other financial institutions will no doubt want to weigh in,' he added. Bruce said that ultimately incorporating a same-country exemption into FATCA — which was proposed but not added as an amendment to the U.S. National Defense Authorization Act — would be ideal for Americans abroad, foreign banks, and foreign tax authorities." "'The silver lining here is taxpayers and groups representing them are pushed to become more vocal, calling for hearings on taxation of Americans abroad,' Bruce said, adding that those groups 'are banging their …


  • Released: June 08th, 2023 08:19 AM
  • Tag(s): newsroom

ACA in the News: Foreign Taxpayers Cautiously Optimistic About IRS's Payment Plan

  Tax Notes Today Federal, April 10, 2023 "Foreign Taxpayers Cautiously Optimistic About IRS's Payment Plan" By Jonathan Curry   "Buried in the IRS’s new strategic operating plan is a project that would make paying taxes just a little bit easier for overseas taxpayers, but it’s still not clear how — or when — the agency will meet its pledge. Taxpayers in foreign jurisdictions often struggle to meet even basic taxpayer obligations for a litany of reasons, and Initiative 1.10 of theplan, released April 6, briefly describes a project that would at least make it easier for such taxpayers to make tax payments and receive refunds while living abroad. 'It’s a big deal,' Charles Bruce of American Citizens Abroad told Tax Notes. 'There are many Americans overseas who don’t have a U.S. [bank] account, so this is a big help.' Bruce said it 'would be terrific' if overseas taxpayers could pay their taxes …


  • Released: May 23rd, 2023 09:13 PM
  • Tag(s): newsroom

ACA in the News: Retirement in Paradise Isn’t Without Financial Headaches

  Wall Street Journal, May 23, 2023 "Retirement in Paradise Isn’t Without Financial Headaches"   ACA's Jonathan Lachowitz speaks with the Wall Street Journal about the financial headaches facing Americans abroad and what financial research to do before making a move to another country. "'Expats have to be motivated and persistent problem solvers,' saidJonathan Lachowitz, chairman of American Citizens Abroad, a nonprofit focused on tax and other issues that Americans living abroad face. He recommends joining expat groups and online forums to find people who have already made the move. Banking, immigration and tax policies can change frequently, so double check everything you hear, said Lachowitz, who also is the founder of White Lighthouse Investment Management of Lexington, Mass., and Lausanne, Switzerland."   Read More...


  • Released: May 23rd, 2023 12:05 PM
  • Tag(s): newsroom

ACA in the News: Change of model in sight for FATCA

  Le Temps, April 27, 2023 "Change of model in sight for FATCA"   Recent article from Le Temps in Switzerland (April 27th) discusses the agreement between Switzerland and the United States to move from Model 2 FATCA reporting to Model 1 wherein Swiss banks, via the Swiss Federal Administration, will report directly to the IRS. The article discusses whether this change in reporting will assist with the problems of banking lockout that many US citizens living and working overseas are facing. ACA was asked to comment on the change and was quoted as follows. "The Executive Director of American Citizens Abroad, Marylouise Serrato, is sceptical about whether the new FATCA reporting agreement [between Switzerland the the United States will alleviate the problems of US citizens in Switzerland] saying, 'No matter whether it is Model 1 or 2 that is …


ACA in the News: Lessons From Account Level FATCA Filing

  Tax Notes State, April 10, 2023   "Lessons From Account-Level FATCA Filings" by Robert Goulder*     ACA shares an excellent article "Lessons From Account Level FATCA Filing," by Tax Notes International journalist Robert Goulder discussing FATCA, Residence-based taxation and the National Bureau of Economic Research’s (NBER) recent report, "The Offshore World According to FATCA."   Goulder's arguments echo what ACA has been saying; adopting Same Country Exemption (SCE) for FATCA filing is not a replacement for RBT, the real problem is Citizenship-based taxation, therefore the need for RBT. It's a very small percentage of super high-wealth individuals that present tax compliance issues for the Congress and US Treasury, and not the majority of US citizens overseas.  Having articles such as this published are helpful to ACA's advocacy as they support what ACA has been reporting to Congress and the Administration and they highlight some …


ACA in the News: Will U.S. expats, accidentals finally make progress in 2023, with their anti-CBT fight?

  The American Expat Financial News Journal (February 14, 2023)    Will U.S. expats, accidentals finally make progress in 2023, with their anti-CBT fight?   "A little over one month into the new year, a global challenge to the United States' citizenship-based tax regime is emerging on several fronts, as awareness continues to grow of the tax regime's major role in the many problems U.S. expats and so-called accidental Americans continue to struggle with."   "among some of the other recent developments in an already-established anti-CBT network of entities and ongoing activities, which, just in the past three years, has seen:     * The publication last April, of the ACA/DEG Analysis of Revenue Effects of Residence-Based Taxation, a major study that it the American Citizens Abroad said had been prepared over the preceding 10 months for its sister organization, …


  • Released: February 16th, 2023 09:15 AM

"Notice 2023-11: Temporary Relief for Permanent FATCA Problems" by Robert Goulder

Tax Notes International, January 16, 2023   "Notice 2023-11: Temporary Relief for Permanent FATCA Problems" by Robert Goulder*   This article highlights many of the inherent problems with FATCA and recommends Same Country Exemption (SCE) as a potential way to help alleviate some of the problems.   "Notice 2023-11 raises a basic question: When a national revenue body is forced to place so many behavioral demands on external parties, is the problem that some people in faraway places are being recalcitrant or that Congress built the U.S. regime on a deviant concept (citizenship-based taxation) that doesn’t mesh with how the rest of the tax world operates? As I’ve written before, FATCA wouldn’t be nearly so offensive if the United States adhered to residence-based taxation — the global norm. Other nations have sophisticated individual income tax systems, so why does no other country find itself imposing similar demands on outsiders?"   Read More...   …


  • Released: February 13th, 2023 09:22 AM

ACA in the News: BREAKING: US Supreme Court declines to hear FBAR plea of Boston-area gran, 82

  The American Expat Financial News Journal (January 24, 2023)   BREAKING: US Supreme Court declines to hear FBAR plea of Boston-area gran, 82   "Advocates of a fairer treatment by the U.S. of "ordinary" American taxpayers who find themselves accused of financial transgressions they weren't aware of have been expressing disappointment – as well as concern – over a U.S. Supreme Court decision not to hear a case involving an 82-year-old American grandmother's challenge of a US$2.17 million fine she received for having failed to file FBARs (Foreign Bank Account Reports)."   "The American Citizens Abroad, the U.S. expat advocacy organization based in Washington, DC, said the Supreme Court's decision not to hear the Toth case was "unfortunate," and added that even though Monica Toth isn't a U.S. citizen living overseas, her situation nevertheless did "raise concerns for U.S. …


  • Released: January 26th, 2023 12:08 PM

ACA in the News: Group Voices Compliance Concerns Following IRS FATCA Notice

  Tax Notes Federal, January 16, 2023 “Group Voices Compliance Concerns Following IRS FATCA Notice,” by Kiarra M. Strocko   "Despite its relaxation of U.S. taxpayer identification number requirements for some foreign financial institutions, the government isn’t backing down on enforcing reporting obligations under the Foreign Account Tax Compliance Act, American Citizens Abroad (ACA) said." “'The IRS’s push for FATCA compliance is not going to go away,' ACA said in a January 11 statement. Although taxpayers will now be able to “catch up” or avoid penalties for noncompliance, the IRS will not give them a pass if they don’t have a TIN, the statement says. Charles M. Bruce, legal counsel for ACA, told Tax Notes that 'FFIs and foreign jurisdictions even more visibly will be coaxing American citizens abroad to comply.'”   “'FFIs will probably view this notice as a reasonable step forward,' ACA said in its statement. However, it added, 'taxpayers should view it as …


  • Released: January 19th, 2023 06:03 PM

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 …


  • Released: December 23rd, 2022 11:19 AM
  • Tag(s): newsroom

Take Action

Sign onto the campaign for call for hearings! ACT TODAY

Click here for more information. 

Tax Preparer Directory

ACA's comprehensive worldwide guide to tax preparers: www.acareturnpreparerdirectory.com

Join Now

For only $70 a year you can help ACA with its important work on behalf of overseas Americans. Become a Member

ACA Member Benefit

Problem opening a US bank account because you reside abroad? ACA delivers the solution! Open one today with ACA-Members/SDFCU account. 

Latest News

View more news »

Powered by Tendenci - The Open Source AMS | a Schipul Factory Production