Managers of Wealth Americas

IRS getting tougher; more audits, tax attorney says

The IRS has been trying to streamline their examination of entities

Renaissance Said Probed by Senate Panel on Tax Maneuver

A U.S. Senate investigative panel will hold a hearing July 22 to probe tax maneuvers by Renaissance Technologies LLC, the hedge fund started by billionaire James Simons

PR China and the US committed to signing Intergovernmental Agreement

The US Government concluded this agreements with many partner countries to effectively implement their 2010 US Foreign Account Tax Compliance Act (FATCA) in their local jurisdictions.

British Virgin Islands, United States Sign FATCA Agreement

The FATCA law requires, among other provisions, US citizens living outside the US to report their foreign bank accounts to the Internal Revenue Service.

Israel Latest Country to Sign Tax-Evasion Agreement With U.S.

Deal Allows U.S. to Enforce its Foreign Account Tax Compliance Act, or FACTA

Swiss banks to tell all under FATCA

Swiss banks and asset managers are gearing up to implement the FATCA (Foreign Account Tax Compliance Act) rules

Butterfield meets FATCA deadline

FATCA will provide an effective framework for our institutions and regulators

US offshore tax evaders beware: FATCA starts July 1

The US Treasury has spent much of the past several years pressing the issue on some of the world's most powerful and secret banking centers with threats of punitive action if they do not join in.

Offshore Crackdown Kicks Off With 30 Percent Penalties for Banks

The Internal Revenue Service is about to get an unprecedented look at bank accounts and investments U.S. citizens hold abroad, through a law that is making it harder to hide assets from the tax collector.

U.S. Prosecutions of Foreign Financial Institutions Create Extreme Risk of Disclosure for Offshore Account Holders by Greenberg Traurig

As shown by recent headlines, the pressure is mounting on individuals who have yet to come into compliance with their reporting obligations concerning undisclosed offshore accounts.

IRS Makes Offshore Voluntary Disclosure Program More Open for Non-willful Tax Evasion, Advises Sigma Tax Pro

The Offshore Voluntary Disclosure Program was launched by the IRS in 2012

Russian lawmakers approve bill allowing compliance with US tax law

The bill now passes from the upper house of parliament to President Vladimir Putin

A Resurgence in Charitable Trusts?

This boom in charitable gift planning began shortly after the passage of the Tax Reform Act of 1986—legislation that ushered in historically high capital gains rates, along with ordinary tax rates of 33 percent or more.

IRS Names Names - Taxpayers with Foreign Accounts at These Banks Only Have Days to Avoid Huge Penalties

The IRS and Justice Department are cracking down on unreported foreign bank accounts

Last Call To Dodge the IRS's Crusade Against 'Offshore' Accounts?

Agents at the IRS have been quietly rubbing their hands together in anticipation of July 1.

Tax inversions: why Britain's companies are being pursued by US rivals

UK firms are targets for American giants hoping to escape punitive rates, writes Ben Marlow

US announces changes to the Offshore Voluntary Disclosures Programs

On 18 June the US Internal Revenue Service (IRS) announced major changes to its offshore voluntary compliance programs, resulting in new guidance for both taxpayers overseas and those residing in the US.

IRS Increases Offshore 'Amnesty' Penalty From 27.5% To 50%

Americans living abroad and certain others who can now come within the IRS Streamlined Program.

US tax case deal to trigger Swiss bank consolidation

An expected resolution to the US tax evasion probe into Swiss banks will likely be a catalyst for consolidation in the country's private banking industry.

The banks in Romania present the US IRS information about the Americans’ accounts

The Romanian authorities accepted the inclusion on the list of countries with agreement of 2 April 2014, according to the American Treasury.