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We will bring you stories from the US and the UK regarding cross border tax planning, management of international pensions, retirement and pension planning for US non-residents and US residents, and all manner of financial news items from the UK and the US.

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This communication is for informational purposes only and is not intended to constitute, and should not be construed as, investment advice, investment recommendations or investment research. You should seek advice from a professional adviser before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.

Investment advice and investment advisory services offered and provided through Blacktower Financial Management US, LLC. This communication is for informational purposes only based on our understanding of current legislation and practices which are subject to change and are not intended to constitute, and should not be construed as, investment advice, tax advice, tax recommendations, investment recommendations or investment research. You should seek advice from a professional before embarking on any financial planning activity. Whilst every effort has been made to ensure the information contained in this communication is correct, we are not responsible for any errors or omissions.

Other News

Currency Risk and Retirement: Why US Expats Need to Plan Ahead

When you move abroad, there’s plenty to think about — visas, housing, healthcare, taxes, even where to buy your morning coffee.But there’s one crucial aspect of your financial life that often gets overlooked: currency risk. For US expatriates, especially those holding retirement assets in US dollars, exchange rate fluctuations can have a direct impact on […]

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Act Fast on FAST Act

Anyone with a financial interest in the United States needs to be sure that they have their wealth management and tax obligations firmly in order following the Internal Revenue Service’s introduction in February of a scheme that prevents Americans from travelling abroad if they have unpaid taxes.

The move brings into operation 2016’s ‘‘Fixing America’s Surface Transportation Act” (FAST) which gives the State Department the power to refuse or revoke a passport in the case of individuals who owe more than $50,000 in federal taxes.

There are also concerns that the law has the potential to unfairly impact American expats who live abroad, particularly in cases where the IRS is acting on incorrect or outdated information. For example, an expat may return to the US and have his passport revoked and be unable to return to his family and job abroad unless he can either pay his outstanding liability or prove that the IRS is wrong.

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