In March of 2010, President Obama signed the Foreign Account Tax Compliance Act (FATCA) into law as part of the HIRE Act, requiring foreign financial institutions (FFIs) to report to the IRS specific data pertaining to U.S. persons (citizens, green card holders, “accidental citizens” born to Americans abroad, etc.), including annual debit and credit totals and any movements out of...
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The August 31 deadline for voluntary disclosure of “offshore” bank accounts, extended by the IRS to September 9, has now passed.
"US persons" (citizens and green card holders) who are not yet in compliance with their tax and bank account reporting obligations should inform themselves and in some cases consult a tax professional. FAWCO will continue to post information on...
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After a 2-year drafting process, the Uniform Law Commission unanimously approved a landmark uniform act in summer of 2010 which now, having received the endorsement of the American Bar Association, is making its way through State houses and changing the way military and overseas voters will vote in the 2014 election.
As things now stand, UMOVA has been enacted in...
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Under the US tax system, US persons - citizens, green card holders and residents - are required to file annual US income tax returns reporting worldwide income.
It is a legal obligation to ensure that “true and accurate” returns are filed with the IRS in a timely way to avoid risks of numerous penalties and, potentially, criminal prosecution.
The IRS is...
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Overseas Americans are invited to step up and be counted at http://counting-citizens-
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FAWCO partner OVF has just issued its post-election survey on the 2010 U.S. federal elections, with the first look at how voters fared in the first test of the landmark MOVE Act, passed in 2009. It is clear that, despite the lower voter turnout often found in “mid-term elections”, voters had an easier time of it, essentially due to MOVE-related...
FAWCO partner OVF has just issued its post-election survey on the 2010 U.S. federal elections, with the first look at how voters fared in the first test of the landmark MOVE Act, passed in 2009. It is clear that, despite the lower voter turnout often found in “mid-term elections”, voters had an easier time of it, essentially due to MOVE-related...