Accidental Americans Create Headache for French, European Banks

January 15 , by David Whitehouse

Boris Johnson, who was born in New York but left when he was five, found it outrageous that he was obliged to pay US taxes. The easy solution was to pay to renounce his US citizenship, which he did in 2016. Hundreds of other accidental Americans don't have the luxury of such an escape. Their legal battle may have ramifications for French and European banks.

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<p>"This would expose them to the risk of substantial US fines."</p> <p>That is the "stick" that encouraged most nations to adapt a FATCA IGA making data collection according to FATCA rules (reporting on US (...)
JC DoubleTaxed [Corporate]
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