Trump ready to cut US expat tax ties

Pedro Gonçalves
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Trump ready to cut US expat tax ties

The IRS is easing withholding requirements for the Foreign Account Tax Compliance Act (FATCA), an international reporting regime that has drawn criticism from lobbying groups for US taxpayers living abroad and financial institutions, as Trump gets ready to cut US expat tax ties. FATCA requires foreign banks and brokerages to report on the assets held by their US persons or be subject to withholding on US transfers.   The penalty for failure to comply, withholding, would essentially put ...

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