Access Leading Tax Experts And Technology
In Our Global Digital Marketplace

Please Type Topic Into Search Bar

If the US moved to residency based taxation would foreign banks still be required to report accounts of US citizens under FATCA?

Would these accounts still be subject to FBAR reporting and penalties even though a US expat would be free of annual tax returns? Would the banks still have the 30% withholding for errors/omissions? Would they STILL refuse US clients? (The IGA's that were signed used the term "US citizen", they did not state anything regarding the US's unique form of citizenship based taxation. (The OECD's recommended CRS only involves accounts of residents off shoring funds, not citizens living abroad. Might the US join this scheme and repeal FATCA?)

FBAR


Meet Leading Tax Advisors

User Photo John Stancil

Professor

Lakeland

User Photo Peter J. Scalise

Federal Tax Credits & Incentives Practice Leader

New York, NY

User Photo John Dundon, II EA

Tax Director

Denver, CO

User Photo William Rogers, CFP, MBA, EA

CEO/Certified Financial Advisor

Rancho Santa Fe, CA

User Photo Monika Miles

President

San Jose, CA

User Photo Blake Christian

Tax Partner

Long Beach/ Park City, CA

User Photo John Richardson

Lawyer

Toronto, Canada

 

View/Select our Current List of Tax Topics

# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Previous PageNext Page

INCREASE KNOWLEDGE WITH EVERY ISSUE OF TAXCONNECTIONS

 

Learn from tax advisors, straight to your inbox

Update My Email Address
Contact Us Today