Summary

1. US Tax Law Developments:
1. FATCA and other foreign taxpayer profanities
2. CSG/CRDS and the IRS
3. Estate and Gift Taxes, same as prior year
4. Foreign earned income exclusion
5. Other general US tax information
   
6. 
   
2. French Tax Law Developments:
1. Income tax rates
2. Social charges
   Real estate capital gains tax
   allowances
   New calculation of the wealth tax for 2012
   Shareholders’ loans held by non French tax resident in French foreign companies
   Registration of the sale of shares of real estate companies abroad
   New tax treatment of Trusts in France
3. 
   
3. Economic Forecast:
1. Our vision
2. 
   
4. Useful links
5. Useful download

Useful links

U.S. Internal Revenue Service :

1. http://www.irs.gov/

Administration fiscale française :

1. http://www.impots.gouv.fr

The American Club of Paris :

1. http://www.americanclubparis.org/

Useful Download

1. 2008 Tax Talk
   
2. 2009 Tax Talk
3. 2010 Tax Talk
4. 2011 Tax Talk
   

In 2011 the US tax law news was that there were very few new tax laws passed. Many fiscal questions were left unanswered, the only thing we do know is what is on the books now, and that change will be coming soon. The US is also looking for revenues wherever they might be found, and it’s possible that some decision makers stateside see citizens and Greencard-holders residing abroad as a base without a solid voting or protesting block. Do not hesitate to write to your representatives to let them know you are still their constituent.

Highlights of tax law changes affecting 2011 returns and 2012 income are summarized in the following document to download (PDF reader required):

• 2012 US tax law developments
  

1. Summary

The year ended with a shocker. The 2011 French Amended Finance Bill has set out surprising new rules for the taxation of trusts...

 Highlights of tax law changes affecting 2011 returns and 2012 income are summarized in the following document to download (PDF reader required):

• 2012 French tax law developments
  

Economic Forecast

Our economic forecast for 2011 proved remarkably prescient. Slightly better than expected employment figures didn’t lead to explicit tax increases, but continued austerity measures saw unprecedented intensification of tax collection by government authorities. 

• 2012 Economic forecast