Managers of Wealth Americas

US president Biden seeks $80bn for IRS to crack down on tax evasion

IRS chief Charles Rettig said earlier this month that tax evasion costs the US $1trn more each year.

US President Joe Biden to 'propose hiking tax on rich'

The plan would also nearly double taxes on capital gains to 39.6% for people earning more than $1m.

You heard NY finalized its budget: What does this mean for the art world?

While some may forecast a negative impact on the art market as collectors may have less cash in their pockets available for discretionary purchases (like art), we do not think this tax change spells all doom and gloom.

Here’s how to reduce exposure to tax increases with charitable contributions

The wealthy are facing a rise in taxes. Charitable donations are a way to reduce exposure while giving back.

Carlos Tevez seeks to avoid paying Argentina's new wealth tax

Boca Juniors striker files court injunction to avoid paying the country's new wealth tax, the latest example of the difficulty in making millionaires comply with the levy.

New US proposals for reforming the international tax system

The Organisation for Economic Cooperation and Development (OECD) has been working on proposals for addressing the tax challenges of the digitalisation of the economy for a number of years.

Entry into force of double taxation agreements with Brazil and Saudi Arabia

The agreement between the Swiss Federal Council and the Government of the Kingdom of Saudi Arabia for the avoidance of double taxation with respect to taxes on income and capital entered into force on 1 April 2021.

New York, Finally, Taxes the Rich

A budget that spends on education, homelessness and undocumented immigrants is the product of years of progressive politics, not a governor looking for a diversion.

Just 500 households in New York City will pay the highest rate in Cuomo’s millionaire-tax hike and suicide deaths fell during the 2020 pandemic — but why?

The proposed tax on residents making $1 million a year or more will hit nearly 123,000 New Yorkers across the state.

World Bank warns against 'high' global tax minimum

To US lawmakers, Ms Yellen has made the case that establishing a global minimum tax would allow the US to remain competitive, despite that increase.

US gift and estate tax legislative proposals

The proposals would change the gift and estate tax exemption amounts and rates and meaningfully impact trust planning.

CRA has found 35 cases of tax dodging in the Panama Papers leak, 5 years later

Agency said it has unearthed $21M in unpaid taxes filed

The richest 1 percent dodge taxes on more than one-fifth of their income, U.S. study shows

The researchers say that years of IRS funding cuts, combined with the increased sophistication of tax evasion tactics available to the rich, have made shirking tax obligations easier than ever.

Canada’s tax treaty MAP inventory increased in 2019, new report shows

The MAP program began 2019 with 147 MAP cases. During the year, 75 new cases were opened, and 60 were closed.

IRS chief says increase in enforcement budget would boost tax collection

The agency has lost about 15,000 enforcement staff over the past decade as its budgets were cut.

Advisors Urge Harvesting Gains, Realizing Losses Before Taxes Rise

Other proposed tax changes would affect carried interest and estate tax planning.

Congressional Democrats release bill targeting corporate tax loopholes

In a statement announcing the bill, they said the new legislation would also crack down on the type of illegal tax evasion revealed by the Panama Papers and Paradise Papers leaks.

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

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.

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.