The Mayor of London Boris Johnson who was born in the United States, moved from the United States at the age of 5 and now holds an American passport, may have met his biggest match ever … the United States Department of Internal Revenue, more commonly known as the IRS....Read more
What Drives Americans to Renounce Citizenship?
There was a 221% increase in American citizens renouncing their citizenship in 2013. This figure has been reported by the U.S. Treasury Department; however, the actual number is much higher. It is alarming that citizens are leaving the U.S. in droves. Is it the overwhelming desire to escape the high...Read more
Guide to the IRS Streamlined Program and Offshore Compliance for American Expats Living Abroad
On June 18, 2014 the IRS announced major changes to the IRS Streamlined Program for Offshore Compliance for US expats. The IRS expanded the streamlined filing compliance procedures to help taxpayers residing abroad and those residing in the United States. This update is especially welcome in the light of the...Read more
What are Property Taxes Basics for US taxpayers?
Real estate or property tax is one of the categories of taxes assessed by the government. We might not like taxes, and might not always agree with how they are spent, but we understand that they are an inherent part of our system of government. Without taxes, our country will...Read more
Republicans and Americans Expats Living Abroad. Will FATCA affect 2016 presidential elections?
2016 presidential elections are two years away, however, the campaign is gaining its speed. FATCA or Foreign Account Tax Compliance Act plays one of the key roles in this campaign. FATCA has been introduced to prevent tax evasion by U.S. citizens working abroad. The organization Republicans Abroad is pushing its...Read more