USA

The list below is a collection of articles that refer to, mention or discuss USA.

No evidence FATCA infringes rights of Accidental Americans in EU

FATCA on a USA flag

Thousands of Accidental Americans living in Europe are not having their right to a bank account compromised by the US Foreign Account Tax Compliance Act. Under the Payment Accounts Directive, every European Union citizen has the right to open a bank account, but some banks have frozen or refused to open accounts for Americans because … Read more

Categories Tax

Internal Revenue Service, IRS

Internal Revenue Service, IRS, logo on an American flag

IRS stands for Internal Revenue Service and is often known as the agency that collects taxes. But what else do they do? How did they start and what is their role in the taxes you pay. Check out this in-depth guide on the Internal Revenue Service and how they work.  History The IRS dates back to … Read more

Categories Tax

What is FATCA?

FATCA on a USA flag

The Foreign Account Tax Compliance Act or FATCA is essential reading for US expats. The rules are aimed at stamping out tax evasion by American taxpayers who hide money or other assets in unreported offshore accounts. The US Internal Revenue Service (IRS) lists offshore avoidance as one of the ‘dirty dozen’ ways taxpayers try to … Read more

Categories Tax

Markets Catch A Cold From Coronavirus Wonder Drug Failure

Drugs, medicine and pills in a box

Share prices around the world have dropped after a potential wonder drug for treating coronavirus failed medical trials in China. Medics have pinned their hopes on Gilead Sciences treatment remdesivir offering a respite from the pandemic. But researchers in China reported the drug had no discernible effect on coronavirus patients despite test results to the … Read more

Politicians Ponder How To Exit The Coronavirus Lockdown

coronavirus written non medical mask

World leaders are beginning to realise that there’s a lack of co-ordination over action to tackle the coronavirus crisis. Although doctors and academics are working together to make sense of data and come up with a vaccine, politicians are enforcing different sets of rules. In the UK, Foreign Secretary Dominic Raab has announced a three-week … Read more

Too Much Tax Leads To Expats Returning US Passports

Red tape and the long arm of the US Internal Revenue Service are forcing one in five American expats to consider giving up their passports. In the first three months of this year, 1,018 Americans renounced the citizenship, and 250 of them blamed US taxes as the trigger for their action. The details come from … Read more

Categories Tax

Retirement Finances Are Too Complicated For Most Savers

Savers find working out their retirement finances years in advance is too complicated, say pension experts. Actuaries from the US, Britain and Australia looked at why people in each country seem to struggle with pensions and savings. They found a common reason – they lack vital information about how to save, such as: How much … Read more

Why The $1m American Retirement Dream Is A Nightmare

British retirement savers get a lot of flak about not saving enough – but the Americans seem just as bad even though they typically earn more. The average US household aged between 55 and 61 years old has $163,577 in savings for retirement that gives an income of just $6,500 a year. Only the wealthiest … Read more

Stock Market Bloodbath As Fed Hikes Rates

The stock market bloodbath continued today as the FTSE plunged further into the red. At one stage, the index looked as if it was going to plunge below the 7,000 mark, but rallied from a low of 7,008 to a day high of 7,145. But London was just one of a chain of markets, including … Read more