The 2017 Tax Cuts and Jobs Act (TCJA) has had a significant impact on US owners of foreign corporations. While US persons have always been subject to US tax on their worldwide income, owners of controlled foreign corporations (“CFCs,” or a foreign corporation with US shareholders that own more than 50% of the corporation) were […]
The Taxpayer Advocate Service, the task force whose objective is to review the IRS and make recommendations to Congress, recently made the public aware that the IRS made a mistake—a big mistake. If you’re a married taxpayer filing separately, find out what implications this could have for you as an expat. What Happened? Think back […]
Thank you to everyone who participated in this year’s US Expat Opinion Survey. Now that it’s over and the results have been collected , we want to share some of the most important insights you shared. From government representation to potential changes to the tax laws, take a moment to review this important information in […]
It’s one of the most important times of the year at Greenback, as we share the results from our 2019 US Expatriate Opinion Survey! But before we dive into the most significant findings from this year’s survey, let’s take a look at recent trends, what the survey accomplishes, and why it’s so important. Greenback’s Annual […]
Not long ago, Congressman George Holding introduced a bill called the “Tax Fairness for Americans Abroad Act of 2018” (a simplified version of the TTFI, or the Territorial Taxation for Individuals bill), just before the Congressional holiday recess. The bill, also known as H.R. 7358, would exempt from taxation foreign income earned by US expats. […]
Earlier this year, Democrats Abroad (an organization dedicated to providing Americans living abroad a Democratic voice in the government and electing Democratic candidates by mobilizing the overseas vote) conducted an in-depth survey of almost ten thousand expats. The results of the survey echoed Greenback’s findings from last year: Expat taxes pose a constant burden and […]
Every year, Greenback surveys expats living around the globe about their opinions on everything from taxation to citizenship renunciation to political and ideological beliefs. These surveys help gauge trends in the expat community and raise the profile of pressing issues; but beyond that, expats who participate in the survey could win a grand prize. Read […]
With the April tax deadline just a few weeks away, you’re not going to want to miss our next free webinar: the Top Five Changes to the Tax Laws US Expats Need to Know. From the Tax Cuts and Jobs Act to the proposed Tax Reform 2.0, the tax filing process is a lot different […]
The old adage, “no news is good news,” does not apply today! Yesterday, the IRS released new proposed regulations to provide more guidance on Internal Revenue Code Section 250, which is an addition to the tax code that was originated by the tax reform (Tax Cuts and Jobs Act of 2017). The proposed changes would […]
Tax Reform 2.0 passed the House in late September right before the midterm elections. Now that the midterms have passed, we’re looking to see where the bills tied to Tax Reform 2.0 stand. As you may recall, the Tax Cut and Jobs Act passed last December. However, most of the individual and some small business […]
