Pages tagged “tax”

  • Taxation Task Force's Response to IRS Comment on Form 1040 U.S. Individual Income Tax Return

    Below is a copy of the submission the Democrats Abroad Global Taxation Task Force submitted to the Internal Revenue Service for the public comment period on Form 1040 U.S. Individual Income Tax Return.

    Click here to download a pdf of DA's submission to the IRS in full.

     

    Posted by
    November 04, 2024

    Chair Taxation Task Force, DAUK DPCA Rep

  • Taxation Task Force's Response to IRS Comment Period on "Foreign Trust" Reporting Requirements

    Below is a copy of the submission the Democrats Abroad Global Taxation Task Force submitted to the Internal Revenue Service for the public comment period on Foreign Trust reporting requirements.

    Click here to download a pdf of DA's submission to the IRS in full.

    In preparation for this comment for the record, Democrats Abroad spoke to IRS officials on June 12 regarding these proposed regulations. Slides from the meeting are available to view here.

    Be sure to submit your comment to the IRS before July 8! Click here for instructions.

    Posted by
    June 24, 2024

    Chair Taxation Task Force, DAUK DPCA Rep

  • 2024 Tax Webinar Series

    The Democrats Abroad Taxation Task Force is proud to announce the 2024 Tax Webinar Series every Wednesday starting on January 10!

    We are asking for a small donation to attend each event.

    Tickets for each webinar in the series must be booked separately.

    All proceeds go to Democrats Abroad.

    All webinars will take place on an online Zoom webinar. Read on for more info on each webinar.

    How To Survive Tax Day As An American Abroad

    This is a consumer focused webinar to help you save money on your tax preparation costs and make you aware of US government resources available to Americans abroad to file their US tax return. The aim of this event is to help you feel more confident to file your US tax return, help you decide if you should file yourself, use tax prep software, or hire an accountant. Also to inform you of your rights when it comes to dealing with the IRS, and debunk myths on the who, what, where, when, and why of filing a US tax return as an American abroad.

    When: Wednesday, January 10 at 1pm EST view your time zone

    Get your tickets now

    Federal Student Loans For Americans Abroad

    Although this isn't a tax webinar, navigating paying off student loans as an American abroad is complicated especially with payments resuming last year. This webinar will clarify the options available to Americans abroad now that the payment freeze on federal student loans has ended and payments have resumed.

    When: Wednesday, January 17 at 3am EST view your time zone

    Get your tickets now

    How To Invest For Americans Abroad And Dual Citizens

    Although this isn't a tax event per se, we received high demand to host a webinar on investing. It is really difficult for Americans abroad and dual citizens (particularly in Europe) to find ways to invest their money in the country they live in as well as in the United States. We often feel like we're stuck in a rock and a hard place, unable to open an investment account in some cases and save for our futures. In this webinar, we'll go over investing basics and the options available. Please note, this session will focus on European Union regulations but will cover basic investing principles applicable anywhere.

    When: Wednesday, January 24 at 1pm EST view your time zone

    Get your tickets now

    How To Catch Up On Filing US Taxes from Abroad (Streamlined Filing)

    Did you forget to file a US tax return since you moved abroad, or have you been living outside the US for a long time (decades even!) but you've not been filing a US tax return? Join us to go over the IRS Streamlined Filing Procedure - the process to get caught up on your US tax filings. The good news is that you don't have to file for all the years that you missed, you potentially won't owe any US tax, and you might even be eligible for some money from the IRS depending on your circumstances.

    When: Wednesday, January 31 at 3am EST view your time zone

    Get your tickets now

    Retirement & Taxes For American Abroad

    Are you starting to plan for your retirement, you're about to retire, or you're already retired? Ever wondered how taxes on your non-US pension works? Join us to go over common retirement tax issues like taxes on Social Security and how taxes on your US retirement plan works if you plan to retire abroad.

    When: Wednesday, February 7 at 1pm EST view your time zone

    Get your tickets now

    How To File The FBAR For Americans Abroad

    Tired of paying someone else to file the FBAR for you every year but not sure how to do it yourself? In this webinar, an expert will walk you through the process of filing the FBAR, which is free when you do it yourself. They'll show you the form, what information you need to provide, how to submit the FBAR online, and the filing deadline.

    When: Wednesday, February 15 at 3am EST view your time zone

    Get your tickets now

    How To File Your Own Taxes From Abroad (2 Hour Workshop)

    Want to save money on an accountant and learn how to file your own US taxes as an American abroad? Join us for this online workshop on the basics of filling in the forms for your US tax return. Limited to 50 participants, the aim of this event is to explain how to file your own US taxes by reviewing the forms required for a basic tax return filing for an American abroad. The session will go line-by-line over the 1040, 2555, and Schedules 1 and 3. Additional forms may be covered if there's enough demand in the pre-submitted questions (note that Form 1116 will be mentioned, but it is recommended to use tax prep software for this form due to its complexity).

    When: Wednesday, February 21 at 1pm EST view your time zone

    Get your tickets now (Limited to 50 live participants)

    (FREE) How To Help Pass Residency Based Taxation

    Want to know more about Democrats Abroad tax advocacy work and what you can do to help? Join this event to get an update on what's going on with fixing the tax problems for American abroad and what steps are required to pass Residency Based Taxation. Presented by Rebecca Lammers, Chair of the Democrats Abroad Taxation Task Force.

    When: Wednesday, February 28 at 3am EST view your time zone

    RSVP for free now

    Not sure which webinars would be best to attend?
    Here are some pointers!

    Beginner
    If you just moved abroad, just started working as an American abroad, or if you just found out that you're supposed to file a US tax return and need to get caught up.

    Intermediate/Advanced
    You have been filing a US tax return and/or lived abroad for a while, or feel like you have at least a basic understanding of taxes for Americans abroad and want to learn more.

    If you are unable to attend the live webinar, there is an option to get a recording only, which will be emailed to everyone after the event.

    Feel free to email [email protected] if you have any questions about the tax webinar series.

    Disclaimer: Democrats Abroad cannot provide individual tax advice. We are not tax lawyers, accountants or advisers. Please consult a professional tax adviser/accountant/return preparer when addressing your personal tax matters.

    We recommend the IRS Tax Return Preparer Directory to find a service provider who meets your needs and budget, though buyers need always beware. Democrats Abroad suggests Americans abroad in need of tax advice consult the IRS Tax Return Preparer Directory to find an advisor or tax return preparer near you or providing online services: https://irs.treasury.gov/rpo/rpo.jsf

    Posted by
    February 02, 2024

    Chair Taxation Task Force, DAUK DPCA Rep

  • 2024 Tax Webinar Series (Part 2)

    The Democrats Abroad Taxation Task Force is proud to announce part 2 of the 2024 Tax Webinar Series every Wednesday in February!

    We are asking for a small donation to attend each event.

    Tickets for each webinar in the series must be booked separately.

    All proceeds go to Democrats Abroad.

    All webinars will take place on an online Zoom webinar. Read on for more info on each webinar.

    Retirement & Taxes For American Abroad

    Are you starting to plan for your retirement, you're about to retire, or you're already retired? Ever wondered how taxes on your non-US pension works? Join us to go over common retirement tax issues like taxes on Social Security and how taxes on your US retirement plan works if you plan to retire abroad.

    When: Wednesday, February 7 at 1pm EST view your time zone

    Get your tickets now

    How To File The FBAR For Americans Abroad

    Tired of paying someone else to file the FBAR for you every year but not sure how to do it yourself? In this webinar, an expert will walk you through the process of filing the FBAR, which is free when you do it yourself. They'll show you the form, what information you need to provide, how to submit the FBAR online, and the filing deadline.

    When: Wednesday, February 15 at 3am EST view your time zone

    Get your tickets now

    How To File Your Own Taxes From Abroad (2 Hour Workshop)

    Want to save money on an accountant and learn how to file your own US taxes as an American abroad? Join us for this online workshop on the basics of filling in the forms for your US tax return. Limited to 50 participants, the aim of this event is to explain how to file your own US taxes by reviewing the forms required for a basic tax return filing for an American abroad. The session will go line-by-line over the 1040, 2555, and Schedules 1 and 3. Additional forms may be covered if there's enough demand in the pre-submitted questions (note that Form 1116 will be mentioned, but it is recommended to use tax prep software for this form due to its complexity).

    When: Wednesday, February 21 at 1pm EST view your time zone

    Get your tickets now (Limited to 50 live participants)

    (FREE) How To Help Pass Residency Based Taxation

    Did you forget to file a US tax return since you moved abroad, or have you been living outside the US for a long time (decades even!) but you've not been filing a US tax return? Join us to go over the IRS Streamlined Filing Procedure - the process to get caught up on your US tax filings. The good news is that you don't have to file for all the years that you missed, you potentially won't owe any US tax, and you might even be eligible for some money from the IRS depending on your circumstances.

    When: Wednesday, February 28 at 3am EST view your time zone

    RSVP for free now

    Not sure which webinars would be best to attend?
    Here are some pointers!

    Beginner
    If you just moved abroad, just started working as an American abroad, or if you just found out that you're supposed to file a US tax return and need to get caught up.

    Intermediate/Advanced
    You have been filing a US tax return and/or lived abroad for a while, or feel like you have at least a basic understanding of taxes for Americans abroad and want to learn more.

    If you are unable to attend the live webinar, there is an option to get a recording only, which will be emailed to everyone after the event.

    Feel free to email [email protected] if you have any questions about the tax webinar series.

    Disclaimer: Democrats Abroad cannot provide individual tax advice. We are not tax lawyers, accountants or advisers. Please consult a professional tax adviser/accountant/return preparer when addressing your personal tax matters.

    We recommend the IRS Tax Return Preparer Directory to find a service provider who meets your needs and budget, though buyers need always beware. Democrats Abroad suggests Americans abroad in need of tax advice consult the IRS Tax Return Preparer Directory to find an advisor or tax return preparer near you or providing online services: https://irs.treasury.gov/rpo/rpo.jsf

    Posted by
    January 31, 2024

    Chair Taxation Task Force, DAUK DPCA Rep

  • 2024 Tax Webinar Series (Part 1)

    The Democrats Abroad Taxation Task Force is proud to announce part 1 of the 2024 Tax Webinar Series every Wednesday starting on January 10!

    We are asking for a small donation to attend each event.

    Tickets for each webinar in the series must be booked separately.

    All proceeds go to Democrats Abroad.

    All webinars will take place on an online Zoom webinar. Read on for more info on each webinar.

    How To Survive Tax Day As An American Abroad

    This is a consumer focused webinar to help you save money on your tax preparation costs and make you aware of US government resources available to Americans abroad to file their US tax return. The aim of this event is to help you feel more confident to file your US tax return, help you decide if you should file yourself, use tax prep software, or hire an accountant. Also to inform you of your rights when it comes to dealing with the IRS, and debunk myths on the who, what, where, when, and why of filing a US tax return as an American abroad.

    When: Wednesday, January 10 at 1pm EST view your time zone

    Get your tickets now

    Federal Student Loans For Americans Abroad

    Although this isn't a tax webinar, navigating paying off student loans as an American abroad is complicated especially with payments resuming last year. This webinar will clarify the options available to Americans abroad now that the payment freeze on federal student loans has ended and payments have resumed.

    When: Wednesday, January 17 at 3am EST view your time zone

    Get your tickets now

    How To Invest For Americans Abroad And Dual Citizens

    Although this isn't a tax event per se, we received high demand to host a webinar on investing. It is really difficult for Americans abroad and dual citizens (particularly in Europe) to find ways to invest their money in the country they live in as well as in the United States. We often feel like we're stuck in a rock and a hard place, unable to open an investment account in some cases and save for our futures. In this webinar, we'll go over investing basics and the options available. Please note, this session will focus on European Union regulations but will cover basic investing principles applicable anywhere.

    When: Wednesday, January 24 at 1pm EST view your time zone

    Get your tickets now

    How To Catch Up On Filing US Taxes from Abroad (Streamlined Filing)

    Did you forget to file a US tax return since you moved abroad, or have you been living outside the US for a long time (decades even!) but you've not been filing a US tax return? Join us to go over the IRS Streamlined Filing Procedure - the process to get caught up on your US tax filings. The good news is that you don't have to file for all the years that you missed, you potentially won't owe any US tax, and you might even be eligible for some money from the IRS depending on your circumstances.

    When: Wednesday, January 31 at 3am EST view your time zone

    Get your tickets now

    Not sure which webinars would be best to attend?
    Here are some pointers!

    Beginner
    If you just moved abroad, just started working as an American abroad, or if you just found out that you're supposed to file a US tax return and need to get caught up.

    Intermediate/Advanced
    You have been filing a US tax return and/or lived abroad for a while, or feel like you have at least a basic understanding of taxes for Americans abroad and want to learn more.

    If you are unable to attend the live webinar, there is an option to get a recording only, which will be emailed to everyone after the event.

    Feel free to email [email protected] if you have any questions about the tax webinar series.

    Disclaimer: Democrats Abroad cannot provide individual tax advice. We are not tax lawyers, accountants or advisers. Please consult a professional tax adviser/accountant/return preparer when addressing your personal tax matters.

    We recommend the IRS Tax Return Preparer Directory to find a service provider who meets your needs and budget, though buyers need always beware. Democrats Abroad suggests Americans abroad in need of tax advice consult the IRS Tax Return Preparer Directory to find an advisor or tax return preparer near you or providing online services: https://irs.treasury.gov/rpo/rpo.jsf

    Posted by
    January 03, 2024

    Chair Taxation Task Force, DAUK DPCA Rep

  • *ACTION* Share Why You Shouldn’t Have to Renounce Your Citizenship

    The US State Department is hosting an open comment period to reduce the renunciation fee from $2,350 to $450. This is a great opportunity for your voice to be heard about the tax problems forcing Americans abroad to renounce their citizenship in the first place (aka the tax compliance nightmare suffered by Americans abroad).

    Here’s all you need to do: 

    1. Go to the relevant State Department page at this link.
    2. Click the big green button on the right side that says “SUBMIT A FORMAL COMMENT.”
    3. Leave a comment! We’ll include a template below - but the more personal your comment is the better!

    Comments close November 1, so be sure to submit before the deadline.

    Template Messaging (But the more personal the better!)

    Asking Americans to pay $450 to renounce their citizenship is still exorbitant (as compared to other consular fees that are substantially lower), but at least it’s an improvement. 

    But the real tragedy is that so many Americans feel like they have to cut ties in the first place. The fact that more Americans renounce their citizenship than any other nationality is deeply embarrassing - instead of penalizing them on their way out the door, the State Department should be asking why they’re leaving in the first place. 

    The obvious answer is the uniquely unfair tax system to which the US subjects its citizens living abroad. The State Department’s mission includes “shape[ing] an international environment in which all Americans can thrive.” Surely that involves helping guide the government toward policies that don’t massively complicate life for Americans abroad. 

    Instead of nickel-and-diming Americans forced to renounce their citizenship to escape double-taxation, the State Department should push Congress to bring the US into line with the entire rest of the world in the way it taxes its expats.

    Thanks for your help!! 

    DA Global Taxation Task Force
    https://www.democratsabroad.org/taxation

    Please share this with any friend or family member that might be interested in submitting a formal comment!

    Posted by
    October 12, 2023

  • Taxation Task Force Letter to Senate Finance Committee

    Below is a copy of the letter from Democrats Abroad submitted to the Senate Finance Committee in response to the report "Credit Suisse's Role In U.S. Tax Evasion Schemes" released on March 29, 2023.

    Click here to download a pdf of DA's letter in full.

     

    Posted by
    April 24, 2023

    Chair Taxation Task Force, DAUK DPCA Rep

  • Help us get RBT into the Democratic Party's 2020 Platform

    As part of efforts to make the Democratic Party's convention the most inclusive and engaging yet, the Democratic National Convention Committee (DNCC) has launched a digital engagement campaign inviting everyone to share what ideas, values, and beliefs they want to see reflected in the 2020 Party Platform.

    The main ways to participate in this campaign are by:

    Democrats Abroad is working to see Residency Based Taxation (RBT) included in the 2020 Party Platform, so that it helps us gain more support in Congress to make RBT a reality.

    Posted by
    July 07, 2020

    Chair Taxation Task Force, DAUK DPCA Rep