The Voice of Americans Overseas

ACA is the premier advocacy organization for Americans overseas

FATCA

What is it and how might it impact me?

Taxation

US tax legislation is complicated, burdensome, unfair and makes Americans uncompetitive

Banking

US legislation is resulting in denial of financial services to Americans residing overseas

Citizenship

All Americans should have the right to transmit US citizenship to their children

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The ACA Tax Return Preparer Directory has arrived

Find the tax return preparer best for you!


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Looking for help with your tax return? Baffled by the forms? Not sure what you should do? Here is a free-of-charge directory of tax return preparers able to help. Listed will be approximately 1,500 return preparers located in over 50 countries including the US. The Directory is “searchable” by location and several categories. In it you will also find practical information relating to the filing of US tax returns.   Go to ► ACA Tax Return Preparer Directory | Home.

Tax return preparer?  Are you a return preparer, attorney, accountant, enrolled agent, professional dealing with return preparation and filings for Americans overseas?  Are you interested in reaching a targeted population?  You may want to list and provide a range of information about yourself and your services.  Or if you have a PTIN, you may already appear in the Directory.  If so, check your listing (free), update basic information (free), upgrade to another level, choosing from a number of options.   Go to ► ACA Tax Return Preparer Directory | List With Us.


Send us your comments and ideas!  Contact info@acareturnpreparerdirectory.com

Latest Updates

New IRS Streamlined Procedure adopts ACA's Suggestions and Recommendations

The IRS has listened to ACA, the Taxpayer Advocate and tax professionals and included our suggestions and recommendations in their new Streamlined Foreign Offshore Procedures program (SFOP).  The program emphasizes simplicity over complexity and allows individuals to come into compliance without being subject to typical tax penalties (failure-to-file, failure-to-pay, accuracy-related, etc.).  This is a great step forward and shows that the IRS is aware that the community of Americans overseas are not criminal tax evaders.  This is in great part due to ACA’s efforts in Washington, DC, the Voice of Americans Overseas working to bring about positive change for Americans overseas.  See the link to our June 23, 2014, press release here .  

 

More information required for passport renewals

The State Departmant has formalized personal information reporting requirements for passport renewals.  In addition to proof of US citizenship you will have to provide your current address (US or foreign) and your Social Security number.  Read more...

 

New FBAR e-filing rules

Even though the due date was June 30, 2014 , it's still possible to file a late report of foreign bank accounts with the US Dept. of the Treasury. This has to be done electronically. Read more...  

ACA, Inc. is not a qualified tax professional and does not advise on the administration of the IRS FBAR form 114. Only a qualified tax professional or the IRS can answer questions on the specifics of this form and the new Streamlined Foreign Offshore Procedure. Please see the following links for more information,

http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Report-of-Foreign-Bank-and-Financial-Accounts-FBAR

http://www.irsvideos.gov/SmallBusinessTaxpayer/BankSecrecyAct/WhenHowReportForeignFinancialAccounts

For more information on locating qualified tax preparers see: http://www.acareturnpreparerdirectory.com

 

Rebuttal to GAO study of the "Foreign Earned Income Exclusion"

The Government Accountability Office (GA0) published its review of the Foreign Earned Income Exclusion (FEIE), entitled “Tax Policy Economic Benefits of Income Exclusion for US Citizens Living Abroad Are Uncertain.” Contrary to previous reports which stated that U.S. tax policy on Americans resident overseas impeded the development of export and created a competitive disadvantage for the United States, the current GAO report basically concludes that the economic benefits for the United States of the FEIE are uncertain.

ACA, Inc. formally contests the conclusions of this new GAO report. Read more...

FATCA and Banking Update

ACA, Inc. has presented testimony as an "open letter" to the Permanent Subcommittee on Investigations - Tax Evasion hearings which were held on February 26th 2014. ACA's letter points out the disastrous effects on Americans living overseas of recent IRS enforcement methods.

ACA, Inc. continues to keep up on the latest communications on FATCA. Recently (Feb. 20, 2014) the Dept. of the Treasury issued a Press Release announcing the amendments to the FATCA regulations to better coordinate with preexisting tax rules. You can read more about Treasury’s efforts here.

ACA, Inc. continues to advocate for “same country” exception (see the ACA October 2013 letter to Treasury), and has been meeting with Members of Congress who are interested in advancing this position with the US Treasury. ACA encourages members and supporters to write their Congressional representatives about FATCA. ACA has raised awareness of FATCA with the legislature and representatives we are meeting with are aware of the issue and are getting involved in looking for solutions. You can also check on the work of other organisations who are also concerned with FATCA such as Democrats Abroad and Republicans Overseas.  More on FATCA...

Tax Advocate Questions FATCA Implementation Process

"The Foreign Account Tax Compliance Act Has the Potential to be Burdensome, Overly Broad, and Detrimental to Taxpayer Rights," states Nina Olson's Taxpayer Advocate report to Congress. It highlights the continued problems with FATCA that the IRS and Treasury have yet to address.  Read more...

What do you Risk by not Paying US Tax?

Virginia La Torre Jeker, a member of ACA's PTAC, has a new blog article on this topic.  Read more...    She also has a blog article on more relaxed rules for PFIC's.  Read More.... 

New Medicare Tax will Affect US Citizens Abroad

The Affordable Care Act includes an additional Medicare tax in the form of a 3.8% Net Investment Income Tax (NIIT). This new tax can lead to double taxation of Americans resident abroad since foreign tax credits cannot be applied against this tax. ACA, Inc. urges Congress to apply tax fairness on Obamacare and allow foreign tax credits against the additional Medicare tax. December 5, 2013 ACA, Inc. Press Release