ACA American Citizens Abroad

American Citizens Abroad (ACA) has written a concerned letter to President Obama to highlight the unintended and extremely negative effects which recently changed or proposed US banking and taxation laws are having on US citizens living overseas. 

In a thought-provoking detailed article , Wegelin & Co., one of Switzerland's oldest bankers, explains why investment in the US is getting to be more and more problematical.

As promised in his presidential campaign, President Obama has begun a crackdown on international tax evasion. Beginning in Switzerland (see this CNN news story about the settlement between the IRS and Switzerland ), the effort has now reached the UK. Read the full 13 June 2009 DailyTelegraph article. For a list of other press items concerning US taxes and foreign banks, click here.