As an introduction
to our newest Corporate Member, American Citizens Abroad (ACA), we are
publishing their latest news release which gives a good introduction to the
work of this organization. Look for Michael Larsen, ACA
representative here in Belgium, at our events. Welcome him to the club and
ask for more details on ACA.
Foundation (ACAGF) Launches Fundraising Campaign to Support Tax Reform for
Americans Living Overseas
March 21, 2017
Congress is slated after the summer recess to take up the issue of
comprehensive tax reform. The upcoming tax-reform process is focusing on
residence-based taxation changes for US foreign businesses, and American
Citizens Abroad (ACA) advocates working to persuade Congress that the tax
law should include residence-based taxation for individuals as well.
Currently, Americans living overseas are taxed in the US based on
“Residency-based taxation for individuals is a relatively straightforward
exercise and does not risk ‘muddying the water’ for changes regarding
corporate international taxation. There are no obvious roadblocks to
undertaking this step,” said ACAGF Chairman Charles Bruce.
ACA’s ongoing advocacy efforts have raised awareness of the problems facing
Americans living overseas and have provided proposals for treatment to
alleviate tax compliancy problems. Now ACAGF is raising funds to commission
a professional "scoring" or revenue estimates required to
persuade Congress that tax reforms that would benefit individual American
expatriate taxpayers are feasible and cost-neutral.
“The tax-writing and other committees and Member offices that ACA has met
with are all familiar with ACA’s approach to residency-based taxation of
Americans overseas, and meetings in these offices lead us to believe that
legislation making this change is eminently doable,” said ACA Executive
Director Marylouise Serrato. “The House Republican ‘Blueprint’ for tax
reform states that the Ways and Means Committee intends to address the
treatment of individuals living and working abroad, opening the door for
this important change.”
This urgent "specified-need" fundraising campaign is being
conducted by American Citizens Abroad, Inc.’s sister organization, American
Citizens Abroad Global Foundation, which is a section 501(c)(3) tax-exempt
publicly-supported charity (http://acaglobalfoundation.org/donate).
Donations to ACAGF are tax-deductible. Details about the work are found
here on ACA’s website at: https://www.americansabroad.org/nows-the-time-for-rbt-donate-today/
For more information contact: Marylouise Serrato +1.202.322.8441