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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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...

Latest Updates

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

New FBAR e-filing rules

Reporting of foreign bank accounts to the US Dept. of the Treasury now has to be done electronically. Read more...


(April 2014)