Managers of Wealth Americas

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.

Tax Policy Update: Examining Recent COVID-19 Tax Developments and Surveying Potential Changes on the Horizon

Following the 2020 elections, the Democratic Party has secured control of the presidency and both Houses of Congress, albeit with slim majorities.

Hedge-Fund Manager Thomas Sandell Pays $105 Million New York Tax Settlement

The agreement over alleged efforts to evade taxes is the largest False Claims Act recovery in the state’s history

Plan For Tax-Efficient Retirement Income

Fortunately, paying a high tax rate isn’t mandatory for retirees.

COVID-19 and regulatory uncertainty spur greater tax risk for organizations in 2021 and beyond, EY survey finds

Survey respondents say they anticipate a far more diverse tax risk environment spanning everything from scrutiny of routine business activity, to major, billion-dollar settlements in court.

Silicon Beach, or just another warm tax haven?

The ‘techxodus’ to southern states must not become a race to the bottom

An American abroad: Beware of the double taxation trap

American citizens are sometimes surprised when they realise that even if they are not living in the United States, they must still file tax returns there. Blue Umbrella tells us what to look out for.

Family businesses risk missing the mark on ESG - PwC Family business survey

Larger businesses and those owned by later generations also buck the trend, with greater focus on sustainability

US ETF investors mainly motivated by tax loophole, study shows

The dramatic shift is leading some large asset managers, such as Dimensional Fund Advisors, Fidelity and T Rowe Price, to either convert some of their existing mutual funds into ETFs or launch ETF clones of their existing funds.

A Massachusetts trust company is adding billions of dollars with a secret weapon -- a Cayman Islands-style tax haven, also known as New Hampshire

Fiduciary Trust Company is sheltering billions of dollars in a Granite State subsidiary to take advantage of the state's low tax burden.

Global tax enforcement chiefs target cryptocurrency

This year, the designated challenge they focused on involves the role of cryptocurrency and the financial technology industry in tax evasion.

IRS Adds Puerto Rico Act 22 Beneficiaries to List of High-Priority Tax Audit Candidates

Mark H. Leeds and Juan F. Lopez Valek of the New York office of Mayer Brown examine these recent events and announcements in the attached Legal Update and explore their interrelated meaning for US individuals and businesses that have moved, or are conside

Will Tax Havens Fall Prey to Global Momentum on Anti-Abuse Tax Initiatives?

Worldwide economies are struggling with tax revenues down sharply, and governments will turn over rocks to reduce deficits.

Great Fortunes Tax imposed in Argentina

The new tax is expected to be one-time tax, payable by Argentinian individuals with personal wealth equal or above 200 million pesos