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Today, July 17th, ACA released a press release in response to the National Taxpayer Advocate and TIGTA on their recent reports to Congress.
“All the work that the NTA is doing is essential for the 4 to 6 million Americans living overseas, however the real solution to these problems is to adopt Residence-based taxation (RBT). ACA is meeting with key legislators on Capitol Hill to encourage them to hold hearings and include us in their listening tours. Congress is out gathering information on how the U.S. tax code, and in particular, TCJA is affecting taxpayers. U.S. citizens overseas must be included in Congressional efforts to learn how the US tax code truly impacts this important and under-represented community,” said Jonathan Lachowitz.
Read the entire press release by clicking here.
Read the unofficial translation of L'Agelfi's article, FATCA: "The Swiss with accounts in the United States" are the most concerned, where WLIM's Jonathan Lachowitz shares some "food for thought".
Click here to read the article.
“What is needed now is a hearing specifically addressing this constituency. At hearings, all the relevant information about this subject, including history of the provisions, size and make up of the population of Americans abroad, and its income and asset profile, and the like, can be put on the table authoritatively by Congressional and Department of Treasury staffs. The House Ways & Means Committee has the opportunity now, with the expiration of the TCJA tax provisions, to do what it should have done prior to passage of TCJA, hear directly from the community and the organizations representing them,” said Jonathan Lachowitz, ACA Chairman.
The CFP Board has chosen Otto Rivera's pro bono story to be included in their annual report. Click to read Otto's story.
John and Otto participated in the annual conference of the Financial Planning Association held in Phoenix.
While the conference primarily centers around domestic concerns, they, along with an expanding group, have been advocating for increased emphasis on international standards and competencies. In pursuit of this objective,
Otto takes charge of the International Knowledge Circle. Paula Jones, an international estate attorney, delivered a presentation on the challenges encountered by expatriates, drawing significant attendance from individuals beyond the confines of the international group.
White Lighthouse's Jonathan Lachowitz was one of the presenters, speaking about financial & tax planning ideas for Americans in Switzerland. White Lighthouse was delighted to be one of the five sponsors for the event. Our team would like to give special thanks to Tina and Michelle, who helped to organize the town halls, and to Jonathan for presenting. Learn more about the event by clicking here.
Jonathan is quoted in this Yahoo! article by Vance Cariaga about Americans living abroad and social security taxes.
Read the article
Read more of our team quoted in the press and the articles we have written in our Articles + Press section.
The importance of Financial Planning after a traumatizing life event cannot be overestimated. It can give the families affected much needed clarity and peace of mind about the immediate present and the future. Unfortunately many communities in the US don’t have access to quality financial advice because of cost. Two of these affected communities are Widows/Widowers and Disabled Veterans. In an effort to help close this gap our very own Otto Rivera, CFP® has volunteered with two different charitable organizations to provide free financial planning/coaching services to families that are going through these difficult transitions.
Otto is currently serving with Wings for Widows an organization that provides free financial planning services to widows and widowers that have recently lost their spouses. Losing a spouse to an illness or accident often changes a family’s entire financial picture in addition to the emotional toll experienced by the surviving spouse and children. Otto supports these families by helping them get clarity about their financial situation, educating them about their options and assisting them to take action to achieve their family goals.
Otto also assists Disabled Veterans through an organization called Homes for Our Troops. This charity builds and donates specially adapted custom homes for severely injured post 9/11 veterans. Otto assists veterans and their families with Financial Coaching so their finances are sound and can qualify for the benefits this amazing program provides.
For Otto, it’s a huge privilege to have the opportunity to help these families.
We are delighted to be able to support business initiatives fro our family of clients and employees. DONA coffee was created by Elisa Dot Bach, the spouse of John Wanvig. She created DONA to celebrate and support women who own and operate coffee farms around the world.
DONA coffee sources the very best specialty coffee from women-owned farms in Colombia, Rwanda, Brazil, Congo, and Sumatra.
We congratulate our own Otto Rivera on been named the new host of the Financial Planning Association’s International /Cross-Border Knowledge Circle. This group is composed by Financial Planners and Investment Advisors that work with clients in US and Internationally that require a global perspective and meet every two months to discuss the needs of the expat community as well as the latest trends in cross-border financial planning. Otto is excited about this new volunteer role and the opportunity to be an advocate for clients living in the USA and all around the world.
Kristen writes on how Americans living abroad can navigate the IRS’s ID.me to get verified to create an online account to gain access to their tax return transcripts and other web tools.
Kristen Howze is an Enrolled Agent and International Tax Manager at Kahn, Litiwn & Renza. An expat herself, she strives to take the sting out of the annual tax filing process.
Read the article
“…Jonathon Lachowitz added that interest in reforming CBT went beyond the ACA membership. “Our advocacy efforts in Washington, D.C., tell us that congressional offices are hearing from a wide range of individuals, businesses and organizations calling for tax reform for Americans overseas,” he said.”
“Founder of White Lighthouse in Lausanne, Jonathan Lachowitz is a specialist planning offices active in Lausanne and the United States. The excruciating complexities of tax regimes do not scare him.”
White Lighthouse would like to welcome John York to our team. John York has an MS in Financial Analysis, a CPA license, and experience in JavaScript. He is based in Aurich, Germany. We are delighted to have John join our team.
ACAGF’s fundraising campaign, to raise $75,000, is in support of research that will be key in helping with the passage of Residence-Based Taxation. ACAGF’s research project will add to the existing body of work that ACAGF fielded in 2017 with District Economics Group, a non-partisan economic consulting firm providing specialized policymaking processes.
American Citizens Abroad (ACA) submitted testimony to the Senate Finance Committee hearings, “How US International Tax Policy Impacts American Workers, Jobs and Investment”, which included White Lighthouse’s Jonathan Lachowitz as a signatory.
ACA believes that tax legislation will be taken up by the 117th Congress and that hearings such as the one held by the Senate Finance Committee on March 25th is a clear indication of this.