A Treasury watchdog report released April 8, 2026 found the IRS is not converting FATCA data on high-balance nonfilers into enforcement cases, despite the law's original mandate to target offshore tax evasion. The compliance burden created by FATCA's reporting requirements continues to fall disproportionately on ordinary Americans living abroad, including those seeking basic banking access.
The Residence-Based Taxation for Americans Abroad Act, first introduced by Rep. Darin LaHood (R-Ill.) as H.R. 10468 in December 2024, expired with the 118th Congress before advancing. Though 2026 was widely anticipated as a potential breakthrough year for the reform, legislation has not yet moved in the current Congress.
Major U.S. brokerages have restricted or closed accounts held by clients with foreign addresses, citing the compliance cost of serving small numbers of non-resident customers across overlapping regulatory regimes. The account closures have become one of the least-visible financial costs of American emigration.
Washington and Zagreb signed a protocol on April 28, 2026 designed to resolve the Senate objections that have blocked the 2022 U.S.-Croatia tax treaty from taking effect. Americans in Croatia have been waiting on the agreement for more than three years.
From joint accounts to sukuk and end‑of‑service benefits, Gulf-based Americans face unique FATCA traps—not more tax, but more reporting, higher thresholds, and plenty of room for costly mistakes. Why FATCA Matters In The Gulf FATCA is a U.S. law that compels Americans to report certain foreign financial assets, mainly through Form 8938, when balances exceed […]
A Belgian court has asked the EU’s highest court to decide if FATCA-driven data transfers to US tax authorities violate GDPR and the fundamental rights of EU citizens. A new chapter for “accidental Americans” Belgium’s Court of Markets has asked the Court of Justice of the European Union (CJEU) to rule on whether Belgium can […]
A recent article published by The Local highlights why a growing number of Americans, both living in the United States and abroad, are choosing to renounce their citizenship and relocate elsewhere due to mounting frustration over the U.S President’s new fiscal measures and tax policies, which are rapidly adding pressure about sustaining the rising cost […]
