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Stop Treating American Expats Like Tax Cheats
By Andreas Kluth Nov 26, 2019 Bloomberg Opinion The U.S. is (almost) unique in the way it taxes citizens working abroad. Its system stinks. An estimated 9 million American citizens living outside the U.S. face a tax nightmare those at home can’t imagine and none...
IRS ANNOUNCES NEW PROCEDURES FOR SMALL TAXPAYERS THAT HAVE OR WILL RENOUNCE US CITIZENSHIP
By ACA September 9, 2019In a News Release dated September 6, 2019, the IRS announced it will give limited relief, in the form of forgiveness of US taxes and avoidance of penalties and interest, in highly circumscribed circumstances.This is for individuals who have not...
U.S. and U.K. Ease Data Collection Across Borders
By Thomas Zeno on October 7, 2019Saying it will accelerate complex investigations, the United States and the United Kingdom proposed an historic data exchange agreement. In future, each government will be able to obtain electronic data directly from technology...
Treasury curbs fines for the report of assets abroad after pressure from Brussels – Modelo 720
The Tax Administration in Spain went from 3,486 penalties to taxpayers for late declaration of the modelo 720 in 2015 to 0 so far in 2019: These are the formal 'automatic' sanctions for late statements, of 100 euros for undeclared data, with a minimum of 1,500 per...
US Senate finally unblocks the 2013 Tax Treaty with Spain.
Antonio Rodriguez. July 2019 (A continuación en español)The US Senate Financial Commission voted in late July in favor of unlocking a decisive amendment to the tax agreement between Spain and the US which updates the measures to avoid double taxation and prevent tax...
Expedited Process Can Reverse Tax Debt Passport Revocations
Some taxpayers with delinquent tax debts who have had their passport renewals blocked can use an expedited process to allow them to travel. As of May 3rd, more than 370,000 notifications certifying qualifying delinquent tax debts have been sent by the IRS to the US...
No hay más ciego que el que no quiere ver: Hacienda, y su modelo 720
Por José María Salcedo Benavente. 18 de junio de 2019Sabido es que no hay más ciego que el que no quiere ver, ni más sordo que el que no quiere oír. Pues bien, algo parecido le ocurre a Hacienda con su modelo 720, que desde el año 2012 obliga a los contribuyentes...
ACM Need to Know Seminar: PYMES(SL) vs Autonomos – Financial Implictions
June 20, 2019 7:00 PM – 9:00 PMUniversidad San Pablo CEU - Julián Romea, 23 (Fac. Económicas y Empresariales) 28003 MadridPYMES(SL) vs Autonomos. Legal forms and procedures to create a company in Spain. Costs. Fiscal implications in each case. Taxes to be paid and...
IRS Actively Targeting Taxpayers For Passport Denial/Revocation
The IRS is now actively in the process of issuing Notices CP508C to hundreds of thousands of U.S. taxpayers–placing all notified taxpayers' passports in serious jeopardy. Several news outlets this week report that the U.S. State Department confirms that it has already...
“ACM Need to Know Seminar” Inheritances and Last Will in Spain and the US
Last Will, Testament and Inheritances in Spain and the US.May 23rd, 2019. 19:00h at Universidad CEU San Pablo (Fac. Económicas y Empresariales) c/ Julian Romea, 23 – 28008 MadridFree entrance. Registration required: https://bit.ly/2QIzHAPPresenters: Alejandra Pastor...
Tax Returns for expatriates
All individuals who cease to be taxed as US persons file tax returns to signal that change in status to the IRS. Typically, this happens on a dual-status tax return: for part of the year you are a US person reporting your worldwide income, and for part of the year you...
Hacienda ‘asusta’ por carta a un millón y medio de españoles a los que ha descubierto cuentas en el extranjero
Está recibiendo un gran volumen de expedientes proporcionados por los bancos. Advierte de que procedan a la regularización en la próxima campaña de la Renta. La Agencia Tributaria ha empezado a advertir a contribuyentes de la información que posee con el fin de evitar...
Frivolous tax arguments remain on IRS’ ‘Dirty Dozen’ scams list for 2019
The Internal Revenue Service today issued a warning to taxpayers against using frivolous tax arguments to avoid paying taxes. This scheme involving outlandish legal claims is on the agency’s top 12 list of tax scams. Promoters of frivolous schemes encourage taxpayers...
Need to Know Seminar on New authorizations for foreign Students of Higher Education in Spain. Integration into the Spanish Labor Market.
Join us for this important new topic!Need to Know Seminar: Novelties in legal-immigration matters: New authorizations for foreigners in Spain in special circumstances. Important information for students, graduates, postgraduates, universities and business schools. New...
Legal framework for the integration into the Spanish Labour Market. Foreign Students of Higher Education.
From September this year, Spain offers new migratory opportunities to foreign nationals, not belonging to The E.U. – mainly to those following higher education programs or having completed them recently.The implementation of the Directive 2016/801/UE has led to two...
The Tax Fairness for Americans Abroad Act (H.R.7358) (TFAA)
TFAA was introduced in December of 2018 by Representative George Holding (R-NC). The bill changes existing citizenship-based taxation rules (CBT), in US tax law, to residency-based taxation (RBT). RBT is sometimes referred to as territorial taxation.TFAA prpouses...
A Call to US Citizens, Dual Citizens and “Accidental Americans”
When: March 12, 2019 at 19h00 Where: The Business Center of Mutua Madrileña, 33 Paseo de la Castellana, Madrid.Registration required: https://bit.ly/2Eta1jqThe Stanford Alumni Association of Spain invites you to hear Marylouise Serrato, Executive Director of...
Who Needs to File the FinCEN Form 114 (FBAR)?
FBAR stands for “Foreign Bank Account Report”. Originally numbered as TDF 90-22.1, up to 2013 and was filed on paper, since then it is required to be filed online and its name changed to FinCEN Form 114.FinCEN Form 114 is required to be filed by all US citizen, Green...
MÁLAGA “Need to Know seminar” Fiscal Obligations for US Citizens residents in Spain
Málaga: Thu, February 14th, 2019 5:00 PM – 7:00 PM - Museo del Patrimonio de Málaga – Paseo Reding, 1 2º planta, MálagaIn collaboration with the American Int'l Club of Benalmadena, everything you need to know about taxes in Spain and in the U.S.A. for your tax...
SEVILLA “Need to Know seminar” Fiscal Obligations for US Citizens residents in Spain.
Seville: Thu, February 7th, 2019 6:00 PM – 8:00 PM Centro Cívico Torre del Agua – Plaza de Vicente Aleixandre, SevillaEverything you need to know about taxes in Spain and in the U.S.A. for your tax returns 2018.TCJA - Tax Cuts and Jobs Act of 2017. Trump’s Fiscal...
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