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

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Looking for help with your tax return? Go to ► ACA Tax Return Preparer Directory | Home.

Tax return preparer? Go to ► ACA Tax Return Preparer Directory | List With Us.

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

Zurich Town Hall Evening--Register Now

Attention all US Citizens and interested parties. You are cordially invited to attend and meet the speakers at this important Town Hall Evening in Zurich, Switzerland: “Changes in the US Tax Code, Wills, How to Respond to Swiss Banks and other Personal Financial Challenges: for US Citizens Abroad.”
Wednesday, 17 September 2014, 18:30 to 21:30, at the American Women’s Club of Zurich, Schöntalstrasse 8, 8004 Zurich.

Limited Seating, so please RSVP ASAP to Jessica Gaines at: bostonjessie@yahoo.com

 

Update on Residence-Based Taxation RBT – August 2014

ACA has been hard at work in Washington, DC bringing RBT to the attention of the legislature and the Administration. ACA has met with all the members of the Americans Abroad Caucus, and the Ways & Means and Senate Finance committees. ACA has been asked by the committees involved in tax reform to provide our input on the tax treatment of Americans living and working overseas. We are proud that ACA is now the government “go to” source for information on many of the issues affecting overseas Americans, and we regularly submit comments to government hearings on issues important to our membership.

Media attention on the issues of overseas Americans is growing. More and more major media outlets like Bloomberg, CNN, Forbes, Time, Politico and others are talking about RBT and FATCA. Much of this attention is due to the ACA commitment to bringing the issues of overseas Americans to the attention of the media. ACA is regularly solicited for interviews and quoted in the media.

ACA was the first overseas organization to advocate for “Same Country Exception” for FATCA and the first to develop a specific detailed proposal for Residence-Based Taxation (RBT). ACA is pleased to see that other organizations such as Democrats Abroad and Republicans Overseas have picked up our messaging on FATCA and taxation and are also advocating to the Washington legislature and the Administration on this subject.

ACA’s Comprehensive Compliance Procedure was the basis of the recent IRS Streamlined Foreign Offshore Program, which allows a low- to no-risk process for Americans overseas to become tax compliant.

In addition, ACA was able to get a special provision inserted first in a number of Intergovernmental Agreements and then in the FATCA regulations, requiring local overseas banks not to discriminate against Americans if they want to qualify for certain types of favorable treatment. ACA is one of the few, if not the only, organization representing Americans abroad that has the expertise and working relationships to permit it to work on a technical level like this.

ACA continues to advocate on behalf of Americans living and working overseas and the organization is truly the Voice of Americans Overseas. ACA is listening to you and Washington is listening to ACA.

Send us your testimonials on how current legislation is affecting you. These testimonials are important to our advocacy work but even more important is your work in contacting your own Congressional representative. We ask you to write to your representative today and let him or her know your thoughts and personal experience, and please send a copy to ACA as well.

You can also support our work by writing directly to the Tax Committees responsible for tax reform and asking for RBT. Go to: https://taxreform.gov

In all your communications to Congress, if you need to use a US residential address, use your last known address in the United States, the same one from which you are registered to vote.

Latest Updates

ACA statement for Senate Finance Committee

ACA, Inc. has submitted a written statement for the record of the Senate Finance Committee Hearing on July 22, 2014 on the current US system of international taxation. In its comments, ACA, Inc. emphasized the international dimension and devasting effects of personal income taxation of US individuals worldwide. Read more...

Get out and Vote!

ACA encourages all Americans to register and vote in all elections. Be sure that your voice is heard in the upcoming mid-term elections. For more information on voting from overseas please see our “Frequently asked questions” 

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 .  

 

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

 

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...