Respond to Senate Finance Comm. (by April 15)
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US Tax & Banking
US Tax & Banking Articles
Foreign Bank and Financial Accounts Report
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...
Bank Secrecy “Obsolete”
On October 29, 51 countries signed the Multilateral Competent Authority Agreement, signaling their intent to "build a collective exchange of bank accounts, taxes, assets, and income held outside local tax jurisdictions.” Among other things, the Agreement extends to corporations the kind of mandatory banking transparency called for under FATCA.
For the OECD announcement and a list of the...
Report back from FAWCO Tax Info Webinar
Taking the pulse of overseas taxpayers/filers
Penalties waived for non-willful non-filing US residents overseas
Recognizing, as announced on June 3, that there is a large population of Americans residing abroad who have been afraid to become “compliant” and honor mandatory tax and financial asset reporting requirements imposed by the US Internal Revenue Service, the IRS announced on June 18 “major changes in its offshore voluntary compliance programs, providing new options to help (…) taxpayers...
Does Your Bank Love You? (new "fillable" PDF survey form)
FAWCO's partner organization AARO (Association of Americans Resident Overseas) is launching a survey of the overseas Americans community concerning the “denial of financial services” to US citizens and greencard holders.
There is no need today to describe the precarious situation in which many “US tax persons” find themselves because financial services are being denied both in the United States (though “Patriot...
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