- American Citizens Abroad (ACA) Calls on Congress to Hold Hearings on Taxation of Americans Abroad (December 29, 2017)
- ACA Statement on Tax Reform (December 4, 2017)
- American Citizens Abroad Completes Crowd-Funding of Revenue Estimates for Push for Residency-Based Taxation as Part of Tax Reform (November 21, 2017)
- ACA submits statement urging Senate to include residency-based taxation (RBT) in Senate bill (November 13, 2017)
- Increasing or eliminating the cap on the Foreign Earned Income Exclusion (FEIE) is not the solution to tax reform for Americans overseas (November 13, 2017)
- American Citizens Abroad, Inc. (ACA) and American Citizens Abroad Global Foundation (ACAGF) Announces Tax Reform Revenue Estimate Analysis (November 7, 2017)
- American Citizens Abroad (ACA) Responds to GOP Tax Reform Bill (November 2, 2017)
- American Citizens Abroad (ACA) Releases Updated Refinements on Residency-Based Taxation (September 29, 2017)
- ACA submits comments to Senate Finance Committee on reforming tax for overseas Americans (July 18, 2017)
- ACA produces “All You Need to Know” video for its award winning ACA-Member/SDFCU Account (May 23, 2017)
ACA IN THE NEWS
ACA is frequently called on for on-air media interviews and quoted in leading publications such as The Hill, Bloomberg, The Wall Street Journal. Below are recent articles where ACA was quoted.
US expat groups vow to continue fight to end citizenship-based tax regime, repeal FATCA
“tax reform – without RBT [a proposal to change the US to a residence-based rather than citizenship-based taxation model] – is not done until the House and Senate work out the differences in the two versions of the bill”.
Royal bride-to-be Meghan Markle’s US citizenship intrigues tax experts
"Charles Bruce, a Switzerland-based American tax lawyer with Bonnard Lawson-Lausanne who also represents the American Citizens Abroad as its legal counsel, says his advice to any American about to marry into a wealthy non-American family also would be to get the best advice possible as soon as possible – and then, to get an equally good second opinion."
US expat groups urge pressure on DC lawmakers as tax reform vote nears
"American Citizens Abroad sent its latest statement on the matter – about which it has been actively campaigning for months – to the Senate, formally informing its members that “a revenue-neutral, tight-against-abuse, harmful-to-no-one approach to residency based taxation” could be easily added to the tax reform legislation."
U.S. expats may be out of luck in tax reform
"One group representing U.S. expatriates, American Citizens Abroad, is pushing a bill that wouldn't reduce federal revenue by changing to RBT. The current citizen-based taxation only raises about $5 billion to $8 billion annually.”
Residency-based taxation: Americans living in Israel may soon see benefits
"For many years, the persistent call for change in the taxation of American corporations and individuals abroad has gone unanswered. However, the current US administration’s actions suggest the very real possibility of new tax rules, sooner rather than later. Indeed, assuming no major legislative disturbance or some catastrophe, such as a Russian-related scandal or open conflict with North Korea, some are predicting new tax rules before the end of this year. For American citizens living in Israel, this would mean relief from onerous compliance requirements and potential penalties that can lead to financial ruin."
- International Investment (November 17, 2017)
Hopes for change to US citizenship-based regime still alive, campaigners say
"Marylouise Serrato, executive director of the American Citizens Abroad, said today that although residence-based taxation (RBT) isn’t currently mentioned in the bill that was approved yesterday, “there is still movement on RBT, and [still] time for its inclusion” in the final draft. The matter, for example, could also be brought up later on, including during debate on the Senate floor.
“ACA remains hopeful, and we are busy working offices in the Senate, Joint Committee on Taxation (JCT), etc., where we have interested parties,” she added."
- Financial Post (November 7, 2017)
Congress is considering giving Americans in Canada an incredible tax break
"The U.S. Congress has been mulling changes in the way American individuals abroad are taxed by shifting from a citizen-based income-tax system to a residence-based system that would only tax people on the income they earn in the U.S. Americans abroad would no longer be taxed on worldwide income simply because they are U.S. citizens; they would only have to pay tax to the country where they live.
This change would align U.S. rules with that of just about every other country in the world, except Eritrea."
- International Investment (November 7, 2017)
Residence-based tax regime ‘would be revenue-neutral’ for US: research
"Today, Marylouise Serrato, executive director of the American Citizens Abroad, said that although the organisation and its advisers had “thought for some time” that a residence-based tax system need not cost the US Treasury anything in the way of lost revenues, “we are very pleased to have this confirmed”."
- International Investment (November 3, 2017)
US expats’ fingers still crossed as first draft of tax reform bill doesn’t address overseas individuals
“The good news is that the game is [still] on,” the American Citizens Abroad said yesterday, after the House of Representatives unveiled the first draft of the long-awaited Republican tax reform bill –which said nothing one way or other about the taxation of individual Americans who don’t reside in the US.
- Expat Briefing (November 2, 2017)
US Passports Won't Be Seized For FBAR Violations: ACA
Americans and prospective US citizens will not lose their right to a US passport for incurring significant penalties for failing to declare a foreign bank account to the Internal Revenue Service, a taxpayer lobby group has said.