On Tuesday, May 28, the Economic and Monetary Committee of the European Parliament held a public hearing on the implications for Europe of FATCA implementation.
FAWCO and AARO wrote to two members of the EU Committee expressing concern for two segments of the population they represent: Europeans with American spouses or domestic/business partners, and "accidental" Americans with dual nationality, who...
On February 8, just before Overseas Americans Week 2013, Representative Carolyn Maloney, longstanding champion of overseas Americans, introduced HR 597, a bill to create a bipartisan federal commission to look at the issues facing Americans overseas, including the military, and make concrete recommendations to Congress for solutions. Members of the Commission are to include members of organizations that represent United...
On Thursday, February 28, the House voted to approve the already passed Senate version of the Violence Against Women Act (VAWA) which, though not perfect and despite the fact that overseas Americans were absent from the act, did not include last-minute tweaks that could have seriously weakened it.
Following the 236 to 138 vote, the bill now heads for the...
FAWCO is happy to announce that Reps. Carolyn Maloney (D-NY) and Mike Honda (D-CA), have introduced H.R.597, legislation to create a Federal commission to study the impact of government policies upon the millions of Americans living overseas.
“Americans living and working abroad are our country’s informal ambassadors and help strengthen the U.S. economy and promote American influence. Yet they too...
Americans Abroad are Denied Access to Banking and Investment Opportunities
Americans living and working overseas should have the right to banking and investment services, where they reside and in the United States. This is critical in the modern world. Americans abroad should not be subject to discriminatory policies that restrict or shut down banking relationships.
Many banks in the United...
The Impact of the Foreign Account Tax Compliance Act (FATCA)
FATCA, the Foreign Account Tax Compliance Act, targets those who evade paying taxes by hiding assets in undisclosed foreign bank accounts but negatively impacts and penalizes American citizens overseas and US economic interests.
FATCA requires Foreign Financial Institutions (FFIs) to provide annual reports to the IRS, either directly or through...