Managers of Wealth Americas

House approves corporate governance package with country-by-country reporting mandate

Corporations subject to the disclosure rules generally would be required to report information

Current New York Tax Considerations for Asset Managers—Part 1, Sourcing Fee Income in a Remote Work Model

Remote work presents an opportunity to reduce the New York tax burden on fee income, but NYS and NYC each present their own considerations, which must be addressed to properly capitalize on it.

One Small Step but (Perhaps) One Giant Leap for Global Tax Reform: The G7 Agrees on a Broad Framework for Pillar One and Two

As discussed below, there is still much work to do to flesh out the details of the framework

CRA audits of ultra-wealthy Canadians yield zero prosecutions

The absence of criminal charges against high-net-worth residents comes in an era of rising wealth inequality

Financial Gravity Responds to Attacks on Legitimate Tax Planning

ProPublica accuses them of exploiting "tax avoidance strategies beyond the reach of ordinary people.

Limitations On Corporate Tax Attributes: An Analysis Of Section 382 And Related Provisions

The carryforward of business interest that is disallowed by section 163(j) is an attribute that can be limited by section 382.

Season and Sweat? The IRS Adds Offshore Credit Funds to Their Active Audit Campaign

This change in audit posture may also serve as a catalyst for reviewing loan acquisition activities conducted in prior years.

New U.S. capital gains tax proposals for gifts, inheritances and trusts

These new capital gains taxes would be in addition to those generally applicable under the existing gift and estate tax regime.

Dems call for taxing the ultrarich after report shows they don't pay them

If the information was leaked by someone with access to IRS data, it would be one of the biggest breaches in the agency's history.

British 'Treasure Island' Tax Havens Face a Tempest

As British power collapsed, some of its possessions became self-governing territories that were not part of the United Kingdom but which came under British defence agreements and preserved strong links with London.

A&M Taxand 2021 Global Guide to M&A Tax

The past year also left the markets wondering whether a trade deal would ever be struck between the UK and the European Commission as the Brexit deadline loomed.

Biden to Crack Down On Tax Evasion by Crypto Investors

Most employees report their taxes on a W-2 form, and their employer acts as a third-party verifier of that income and employee — leaving the chance of tax evasion in this case small.

Elizabeth Warren wants to triple the annual IRS budget to go after 'wealthy tax cheats'

Warren's press release said this funding would help close gap between the taxes wealthy people owe and what they actually pay through more staffing and stricter enforcement.

Biden’s IRS Crackdown Proposal Targets Rich Hiding Income

The release follows criticism from Republican lawmakers and tax analysts that the estimate is unrealistically high.

MPs braced for battle with global accounting firm over naming wealthy Canadians behind offshore tax shelters

Global accounting firms have mostly managed to keep their clients' names secret by arguing that their codes of conduct prevent them from publicly naming the multimillionaires behind the shell companies they helped to set up.

Swiss Life Settles U.S. Offshore Tax Probe

The recovery...sends an unequivocal message that offshore evasion is still a high priority of Internal Revenue Service Criminal Investigation

FundCount Wins Best Accounting Solution at Family Wealth Report Awards

Meets family office needs for a unified accounting, general ledger and reporting system

2020 boosts asset manager's tax teams in three key ways

Many tax departments now have innovative, cost-effective new ways to tackle old problems.

Rich Americans Fleeing Tax Hikes May Turbocharge Shift to ETFs

Wealthy face doubling of capital-gains rate under Biden plan

It’s Personal: Planning for New York’s Pass-Through Entity Tax

This Legal Update discusses the mechanics of PET and how to take advantage of it.