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Tax

03/12/2021

Zurich’s Oldest Private Bank Admits To Helping U.S. Taxpayers Hide Offshore Accounts From IRS

Rahn+Bodmer Enters into Deferred Prosecution Agreement for Criminal Misconduct; Agrees to Pay $22 Million

03/11/2021

Credit Suisse tax whistle-blowers urge US to punish bank

A spokesperson for the bank declined to comment. The Justice Department and IRS didn't immediately respond to a request for comment.

03/09/2021

New York Senate proposes new tax on auction sale of art

The tax would be imposed on the purchaser and collected by the auctioneer in addition to state and local sales tax.

03/04/2021

Tax Policy Update: Examining Recent COVID-19 Tax Developments and Surveying Potential Changes on the Horizon

Following the 2020 elections, the Democratic Party has secured control of the presidency and both Houses of Congress, albeit with slim majorities.

03/03/2021

Hedge-Fund Manager Thomas Sandell Pays $105 Million New York Tax Settlement

The agreement over alleged efforts to evade taxes is the largest False Claims Act recovery in the state’s history

03/01/2021

Plan For Tax-Efficient Retirement Income

Fortunately, paying a high tax rate isn’t mandatory for retirees.

02/23/2021

COVID-19 and regulatory uncertainty spur greater tax risk for organizations in 2021 and beyond, EY survey finds

Survey respondents say they anticipate a far more diverse tax risk environment spanning everything from scrutiny of routine business activity, to major, billion-dollar settlements in court.

02/22/2021

Silicon Beach, or just another warm tax haven?

The ‘techxodus’ to southern states must not become a race to the bottom

02/22/2021

An American abroad: Beware of the double taxation trap

American citizens are sometimes surprised when they realise that even if they are not living in the United States, they must still file tax returns there. Blue Umbrella tells us what to look out for.

02/16/2021

Family businesses risk missing the mark on ESG - PwC Family business survey

Larger businesses and those owned by later generations also buck the trend, with greater focus on sustainability

02/15/2021

US ETF investors mainly motivated by tax loophole, study shows

The dramatic shift is leading some large asset managers, such as Dimensional Fund Advisors, Fidelity and T Rowe Price, to either convert some of their existing mutual funds into ETFs or launch ETF clones of their existing funds.

02/10/2021

A Massachusetts trust company is adding billions of dollars with a secret weapon -- a Cayman Islands-style tax haven, also known as New Hampshire

Fiduciary Trust Company is sheltering billions of dollars in a Granite State subsidiary to take advantage of the state's low tax burden.

02/05/2021

Global tax enforcement chiefs target cryptocurrency

This year, the designated challenge they focused on involves the role of cryptocurrency and the financial technology industry in tax evasion.

02/02/2021

IRS Adds Puerto Rico Act 22 Beneficiaries to List of High-Priority Tax Audit Candidates

Mark H. Leeds and Juan F. Lopez Valek of the New York office of Mayer Brown examine these recent events and announcements in the attached Legal Update and explore their interrelated meaning for US individuals and businesses that have moved, or are conside

01/21/2021

Will Tax Havens Fall Prey to Global Momentum on Anti-Abuse Tax Initiatives?

Worldwide economies are struggling with tax revenues down sharply, and governments will turn over rocks to reduce deficits.

01/13/2021

Great Fortunes Tax imposed in Argentina

The new tax is expected to be one-time tax, payable by Argentinian individuals with personal wealth equal or above 200 million pesos

01/11/2021

A Small Tax Change Is a Boon for Permanent Life Insurance

Insurers worried that a government rule from 1984 threatened certain products—and sought Washington’s help

01/09/2021

Rich Americans Bracing for Higher Taxes Await Biden’s First Move

The questions paralyzing the wealthy and their advisers are which proposals by the Democrats will pass, and when they get implemented.

12/09/2020

Canada to tax foreign non-resident property owners

As a way to clamp down on individuals using the country as a ‘place to passively store their wealth’

12/07/2020

Covid: Argentina passes tax on wealthy to pay for virus measures

Argentina has recorded close to 1.5 million infections and almost 40,000 deaths from the coronavirus.

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