International Financial Law Prof Blog

Editor: William Byrnes
Texas A&M University
School of Law

Friday, July 17, 2015

Finance Committee Bipartisan Tax Working Group Recognize FATCA and FBAR Are Concerns, But Kick the Can

Excerpt: According to working group submissions, there are currently 7.6 million American citizens
living outside of the United States. Of the 347 submissions made to the international working group, nearly three-quarters dealt with the international taxation of individuals, mainly focusing on citizenship-based taxation, the Foreign Account Tax Compliance Act (FATCA), and the Report of Foreign Bank and Financial Accounts (FBAR).

While the co-chairs were not able to produce a comprehensive plan to overhaul the taxation
of individual Americans living overseas within the time-constraints placed on the working group,
the co-chairs urge the Chairman and Ranking Member to carefully consider the concerns
articulated in the submissions moving forward.

Chairman Hatch and Ranking Member Wyden are pleased to receive the reports from the Finance  Senate-Finance-Committee

Committee’s five tax reform working groups.  These documents provide the Committee with materials to consider as it works towards reforming our nation’s tax system.  While each report is a bipartisan product of each group’s Co-Chairs, unless otherwise stated, the materials presented are not necessarily endorsed, in whole or in part, by each member of each working group. The Chairman and Ranking Member sincerely appreciate the undertakings of the working groups and their contribution to the tax reform debate.

The Business Income Bipartisan Tax Working Group Report

The Community Development & Infrastructure Bipartisan Tax Working Group Report

The Individual Tax Bipartisan Tax Working Group Report

The International Tax Bipartisan Tax Working Group Report

The Savings & Investment Bipartisan Tax Working Group Report

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What is happening regarding this issue for CBT and EXPATS /US EXPATS 7.6 MILLION VOTERS / Unfair taxing US expats overseas for DECADES Pensions, house overseas etc

Posted by: JakDac | Aug 19, 2015 4:53:36 PM

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