08/11/2015
The Best Tax Move To Shelter Property
There are a few wrinkles, of course, but when coupled with smart tax and estate planning moves, it can be a remarkably effective way to transfer wealth.
Tax
08/06/2015
Debt-Ridden Puerto Rico Plans to Become Tax Haven to Attract US Wealth
On Monday, Puerto Rico defaulted on its debt for the first time in history, repaying only $628,000 of a $58 million portion of the total $73 billion it owes. The White House said on Tuesday that it had no plans to bailout the small island nation, which is
07/31/2015
Think FATCA Requirements Only Apply to Foreign Entities? Think Again
Beginning with the 2012 tax year, this reporting is satisfied by filing Form 8938 with the Internal Revenue Service (IRS).
07/27/2015
US govt faces FATCA lawsuit
A litigation suit has been filed against the US federal government arguing the Foreign Account Tax Compliance Act (FATCA) is “unconstitutional” and violates privacy rights.
07/24/2015
Turkey, US agree to cooperate against tax evasion
Turkey's tax system draws more than two-thirds of its revenue from indirect taxes
07/21/2015
Investor Control Dooms Private Placement Life Insurance Policy In Webber
Webber settled an Alaska Trust, taxed to Webber as a grantor trust.
07/17/2015
Three Swiss Banks Agree to Pay $3.1 Million in U.S. Tax Program
Three more Swiss banks will pay penalties to the United States as part of deals that mean they will not face criminal charges for helping Americans avoid taxes.
07/16/2015
Rand Paul Sues Obama Administration Over FATCA
Claims intergovernmental agreements are unconstitutional
07/14/2015
U.S. Tax Court Issues Decision on Investor Control Over Variable Life Insurance Policy Assets
Although the Tax Court decided the case on extreme facts raised in the case
07/13/2015
Philippines, U.S. sign deal to implement FATCA
The automatic reporting of financial accounts is premised on the appropriate safeguard measures to ensure confidentially of information
07/12/2015
India, US sign FATCA to fight offshore tax evasion
Under the agreement, banks, mutual funds, insurance, pension and stock-broking firms will report their American client details to the tax department for sharing with the USA, said a finance ministry official, who declined to be named.
07/10/2015
Swiss banks agree US tax evasion deal with Justice Department
Two more Swiss banks have agreed deals with the US Justice Department over tax evasion by Americans.
07/08/2015
India, U.S. to sign tax pact Thursday - sources
The agreement could result in a fall in investments from small U.S investors into India's equity and debt markets for some time
07/06/2015
U.S. Sided With Tax-Avoiding Companies Over Contracting Ban
The Obama administration quietly handed a victory to U.S. companies that avoid taxes by claiming a foreign address
07/03/2015
Jeffrey Webber's Cayman Insurance Shelter Nixed By Tax Court
Jeffrey Webber is a venture-capital investor and private-equity fund manager.
07/03/2015
Untangling the FATCA Web for Hedge Funds
Fortunately for most management companies and investment advisor entities, they will likely fall under the “deemed compliant” definition
07/01/2015
IRS Considers New Tax on Wealthy Families
The IRS wants to sharply curtail a favorite tax benefit affecting family partnerships and LLCs
07/01/2015
KPMG And Dun & Bradstreet Alliance Addresses FATCA Due Diligence Challenges
Collaboration offers tool to simplify FATCA business entity compliance as 2016 deadline looms
07/01/2015
Private Equity Star Wins U.K. Tax Fight After Trip to Wonderland
A private equity executive won his five-year legal battle with U.K. authorities to stop his fees from managing venture capital funds being taxed twice.
06/30/2015
A.M. Best Comments on Proposed U.S. Tax Changes for Offshore (Re)Insurers
The Best’s Briefing, titled, “A.M. Best Comments on Proposed U.S. Tax Changes of Offshore (Re)Insurers, states that companies would likely seek operating alternatives to ensure capital efficiency if the tax benefits for offshore companies are