Managers of Wealth Americas

Bank-Data Sharing Accord Expands Push to Find Tax Cheats

A status report on committed and not committed jurisdictions will be presented to G20 leaders during their annual summit in Brisbane, Australia on November 15-16.

Too Big to Tax: Settlements Are Tax Write-Offs for Banks

At the Justice Department, senior officials like to congratulate themselves on the headline-making, big bucks settlements they have imposed upon banks and lenders for their part in causing the 2008 mortgage meltdown that sparked the biggest American finan

FATCA: practical compliance for non-US private trust companies and their trusts

Compliance for a foreign trust with a foreign professional trust company as trustee is relatively straightforward.

How Taxes And Trading Costs Kill Investment Returns

Underperformance, high fees and tight regulations are creating an environment ripe for disruption. I am constantly on the lookout for innovative technologies and business models that address the inherent problems of asset management.

J.P. Morgan seeks tax aid on NYC buildings

As a mayoral candidate, Bill de Blasio denounced city tax breaks for large corporations. Now he is considering a pitch by an employer for fewer New York jobs instead of more.

Ex-UBS Banker Gives Florida Jury Primer on Swiss Bank Secrecy

We knew from the way the accounts were set up that the majority of these 15,000 clients were cheating on the taxes,” said Schumacher

Tax Officials Express Doubts About Fatca

As the law’s provisions have been phased in, some U.S. citizens who are living permanently abroad have given up their citizenship to avoid inadvertently triggering steep tax bills.

Tough talk on tax means nothing if every country does different things

Obama and Osborne have been quick to promise an end to avoidance. But this is best achieved through collective action

First FATCA Fraud Goes Before US Courts

Lawyers say this is the first time a FATCA violation has led to charges before a court and shows the willingness of the US tax authorities to impose strict compliance with the new rules.

Hedge fund managers to increasingly defer performance fee pay-outs

The annual payment of performance fees had irked some investors

U.S. Regulators Probe Bank Maneuver To Cut Hedge Funds' Taxes - WSJ

A trading strategy employed by large banks to help hedge funds and other clients cut taxes has drawn criticism from U.S. authorities

Many of the more than 100 Swiss banks facing U.S. allegations that they helped Americans evade taxes will have to wait until 2015 to settle the disputes

Swiss Banks’ DoJ Emissary Sees Tax Spats Drag on in 2015.

'I was terrified we'd lose all our money': banks tell US customers they won't work with Americans

Thousands of Americans abroad are giving up their citizenship as the implementation of a complex new tax law causes banks to shut down accounts for US expatriates

Armed With FATCA, IRS Hunts Offshore Tax Evaders, While Canada Eases Up

In a move tied to budgets, Canada’s Revenue Agency is cutting its top staff focused on international tax evasion.

Clients' Foreign Tax Bills Now a Concern for U.S. Bankers

That certainly seemed to be the shared opinion of a panel of banking regulation experts, including two officials from the U.S. Securities and Exchange Commission, who spoke about tax compliance and money laundering at a conference Tuesday.

OECD unveils new global plans to crack down on corporate tax dodgers

At the request of the G20 Leaders, the OECD’s work is based on a BEPS Action Plan setting out the 15 key elements to be addressed by 2015

Treasury Is Weighing Action on Hedge-Fund Tax ‘Loophole’

The Treasury, in an Aug. 9 letter obtained by Bloomberg News today, told Senate Finance Committee Chairman Ron Wyden that it’s concerned about such arrangements and is weighing legislative and administrative responses.

Appeal Filed With The Federal Court Of Canada Seeking A Declaration That FATCA Is Unconstitutional And Should Not Be Enforced In Canada

Under FATCA financial institutions enter into an agreement with the IRS and to disclose the names of all U.S. persons who hold accounts with U.S. $50,000 or more.

US tax haven Delaware under pressure

That has now put Delaware, and other states that permit shell companies, in the sights of the US authorities, after they have campaigned against international tax havens like Switzerland to fight tax dodging and money laundering.

A Progressive Estate Tax

In the year 2014, the U.S. has by far the most unequal distribution of wealth and income of any major country on earth.