We are in a very exciting and dynamic political cycle for tax reform. The work of the Dems Abroad Taxation Task Force reflects the big opportunity we have to see reform recommendations we have been working on for many years included in legislation going through Congress this year.Read more
Congress is in the process of developing important, transformational policy that will strengthen communities and advance opportunities for all Americans. We Americans who live outside the United States must be included. Those in the best position to persuade Congress to do that are constituents, so we are zooming them together to talk about tax reform for Americans abroad.Read more
Tax reform will happen when enough Americans abroad reach out to their members of Congress and demand it — that’s why we’re asking for your help. We’ve prepared three tax action items for the coming week, as well as an advocacy guide, to make sure that our voices are heard back home.Read more
Democrats Abroad has written to Treasury Secretary Janet Yellen and IRS Commissioner Charles Rettig about the proposal included, amongst many other measures, in the American Familes Plan Tax Compliance Agenda, to introduce reporting, by banks in the United States and not in the United States, on total cash inflows and outflows of the accounts of U.S. taxpayers. For Americans abroad we fear it will expand the bank lockout, further restrict access to savings and investment vehicles and exacerbate stresses in dual-national families. You can download our letter here.
DemsAbroad Raises Critical Child Tax Credit Questions with the Treasury Secretary and IRS Commissioner
Further to perplexing advice about the Advanced Child Tax Credit published last week by the IRS, Democrats Abroad has written to the Treasury Secretary and IRS Commissioner seeking clarification about eligibility for the expanded Child Tax Credit established by Congress in the American Rescue Plan Act. Some believe the advice indicates that American parents abroad have been deemed ineligible, but the language is not clear. Read our letter here. Watch the DemsAbroad Child Tax Credit Webinar here.Read more
On Wednesday May 12 the House of Representatives Subcommittee on Select Revenue Measures (the key tax writing subcommittee of the House Ways and Means Committee) held a hearing on Funding our Nation's Priorities: Reforming the Tax Code's Advantageous Treatment of the Wealthy. Democrats Abroad has submitted this statement for the hearing record and is following up the comments and recommendations in our statement during hearings with Ways and Means Committee members. We encourage tax reform advocates to make a submission of their own.Read more
Democrats Abroad has published a submission in response to the Senate "Closing the Tax Gap: Lost Revenue from Non-Compliance and the Role of Offshore Tax Evasion" hearing. Our submission references our research on the taxation of Americans abroad, includes comments from Americans abroad who contributed to our research and outlines the reform recommendations for the American Jobs Plan/Made in America Tax Plan that would restructure tax enforcement to focus on bad actors and not ordinary, law-abiding Americans abroad. Click here to download our submission. Supporters of Tax reform for Americans abroad are encouraged to submit their own statement. Information is here. Submissions are due by Tuesday May 25th.
Democrats Abroad has published a submission in response to the Senate "Creating Opportunities Through a Fairer Tax Code" hearing. Our submission outlines our tax reform priorities and recommendations for inclusion in the American Jobs Plan/Made in America Tax Plan and American Families Plan. Click here to download our submission. Supporters of Tax reform for Americans abroad are encouraged to submit their own statement. Information is here.Read more
Democrats Abroad has published a submission in response to an invitation from the Financial Crimes Enforcement Network to provide comment on the introduction of the new beneficial ownership reporting requirement which was enacted in the Corporate Transparency Act of 2021 (CTA). Congress expects the new law to form an important part of the IRS tax enforcement system cracking down on the use of foreign financial accounts in tax secrecy jurisdictions to commit financial crimes. Democrats Abroad believes the implementation of mandatory reporting of (currently anonymous) shell companies gives us an opening to ask for foreign financial account reporting modifications to ease the burden on Americans abroad. Click here to download our submission.Read more