On April 13, National Taxpayer Advocate Nina Olson issued recommendations fully in line with those of the AARO-FAWCO position paper in March 2015 with respect to financial account reporting and the “same country exception” that we have advocated for several years.
Specifically, Ms Olson recommends that:
· filing of FATCA Form 8938 not be required of taxpayers who have timely filed FinCEN...
US Tax & Banking Articles
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In her Annual Report to Congress for 2014, National Taxpayer Advocate Nina Olson addresses certain issues (her "Most Serious Problems") and makes certain Legislative Recommendations specifically related to overseas taxpayers.
We need actively to support her recommendations that seek to alleviate both the loss of access to IRS service abroad and the excessive burden of our mandatory filing of a...
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The United States National Taxpayer Advocate Nina Olson has released her Annual Report for 2014 and, in Legislative Recommendation #6, advocates reducing the burden of filing a report of Foreign Bank and Financial Accounts (FBAR) and improving the corresponding civil penalty structure. She refers directly to the “unintended consequence of the civil FBAR penalty regime, which is designed to address...
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Staying Compliant with Your US Expat Tax Obligations
A FREE Webinar by Greenback Expat Tax Services created exclusively for FAWCO members!
Tuesday April 14, 2015
8 AM New York
9 AM Buenos Aires
1 PM London
2 PM Paris
8 PM Singapore
With the hundreds of US tax code changes every year, how is an expat expected to keep up with all of their US...
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FAWCO's partner organization ACA, Inc. (Americans Citizens Abroad) has launched the first-ever online Directory of tax return preparers and others servicing Americans overseas. After an initial listing of 106 Preparers, the total number stands today at nearly 1800. This innovative new Directory serves Americans overseas and others needing specialized US tax and similar advice.
The Directory is easily found at http://www.acareturnpreparerdirectory.com,
The Directory is easily found at http://www.acareturnpreparerdirectory.com,
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On March 11, the Senate Finance Committee Chairman Orrin Hatch (R-Utah) and Ranking Member Ron Wyden (D-Ore.) announced a bipartisan effort to begin soliciting ideas from interested members of the public and stakeholders on how best to overhaul the nation’s broken tax code to make it simpler, fairer, and more efficient. Their goal is to provide additional input, data, and...
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Foreign Bank and Financial Accounts Report (FBAR) - Due June 30
IMPORTANT NOTICE: FAWCO Tax & Banking Disclaimer
FAWCO Club leaders, please also see FBAR-related Important Club FBAR Information.
In a nutshell - who must file an FBAR: A United States person that has a financial interest in or signature authority over foreign financial accounts must file an FBAR if the aggregate...
IMPORTANT NOTICE: FAWCO Tax & Banking Disclaimer
FAWCO Club leaders, please also see FBAR-related Important Club FBAR Information.
In a nutshell - who must file an FBAR: A United States person that has a financial interest in or signature authority over foreign financial accounts must file an FBAR if the aggregate...
