Managers of Wealth Americas

Why did 3,000 Americans Renounce their Citizenship in 2013?

2013 was a year for goodbyes for many Americans as more than 3,000 citizens decided to turn in their passports and renounce their citizenship.

Snowbirds getting their wings clipped by tax treaty

Most snowbirds already know they need to keep track and report how many days they spend in each country

Luxembourg US Intergovermental FATCA Agreement Signed

The Luxembourg tax authorities this morning announced that the intergovernmental FATCA agreement (model 1) between Luxembourg and the United States was signed on 28 March 2014.

International efforts to combat tax avoidance got a boost today as OECD broadens dialogue with global partners

Over 330 senior tax officials from more than 110 jurisdictions and international organisations met in Paris on 26-28 March 2014 during the 3rd Annual Meeting of the Global Forum on Transfer Pricing.

U.S.-Hong Kong Tax Agreement a Step Forward for International Tax Cooperation

An agreement signed on Tuesday between Hong Kong and the United States on the exchange of tax information is set to become the first tax information exchange agreement (TIEA) signed by Hong Kong using the relevant legal framework established in July of la

Hong Kong, USA Work Toward FATCA IGA

On March 25, Hong Kong and the United States signed a tax information exchange agreement, which will provide the necessary basis for Hong Kong to enter into an intergovernmental agreement to adhere to the United States' Foreign Account Tax Compliance

The plea deal of an ex-banker details tax-evasion schemes

As part of a plea agreement, an ex-Credit Suisse banker recently disclosed how U.S. customers avoided offshore account disclosure requirements.

U.S. Senate Urges the Department of Justice to Seek Extradition of Swiss Bankers Who Helped U.S. Taxpayers Maintain Undisclosed Bank Accounts

The Department of Justice, confirmed it has charged 35 Swiss bankers and 25 financial advisors with helping U.S. Taxpayers hide their undisclosed overseas accounts, but has not yet sought their extradition to the United States.

IRS to Make Limited Use of Offshore Bank Data, Koskinen Says

The Internal Revenue Service initially will make limited use of information supplied by other governments about U.S. citizens’ offshore holdings because of budget constraints

New Website to Assist Millions of Taxpayers with Undisclosed, Offshore Accounts

The Wolfe Law Group is pleased to announce the launch of their new website: IRSOffshoreTaxEvasion.com.

What Canadians need to know about FATCA

FATCA will directly affect many Canadians and Freeman Tax Law has experience to help clients understand their U.S. Tax obligations

$50K delivered to your door: a convenience of (illegal) offshore banking

The rich are not like the rest of us, and neither are their offshore bankers.

BVI concludes negotiations with US on FATCA by Ross Munro, Harneys

The initialling of the agreement comes after several months of dialogue with the US Treasury. At this stage, the final text of the IGA has not been released.

Ex-Credit Suisse banker accused of fraud surrenders, set to aid tax-evasion inquiry

A former Credit Suisse banker surrendered to U.S. authorities Tuesday and plans to plead guilty to fraud charges

Cash Abroad Rises $206B as Apple to IBM Avoid Taxes

The largest U.S.-based companies added $206 billion to their stockpiles of offshore profits last year

Apple and Microsoft among US tech giants reaping interest payments on offshore cash

The US government makes vast interest payments to technology giants including Apple and Microsoft on the billions of dollars they shelter from tax offshore.

Congress Urges Department of Justice to Use All Enforcement Tools Necessary to Go After U.S. Taxpayers with Undisclosed Offshore Accounts

Recently, the U.S. Senate Homeland Security and Governmental Affairs Permanent Subcommittee on Investigations held a hearing on the ongoing effort to collect unpaid taxes and penalties on offshore bank accounts.

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