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Is This Canadian Baby An American Tax Cheat?

Pati (3)

Is This Canadian Baby An American Tax Cheat?

A Canadian baby is learning about taxes, banking and activism at a tender age. The eight month old girl received a “Dear Valued Customer” letter from her Canadian bank when she was six months old advising her that her account information may be provided to Canada Revenue Agency to pass on to IRS.  The wee “Valued Customer” was directed to complete, sign and mail forms to the bank.

Baby Elle (not her real name) and her Canadian parents were Read More

Mossack Fonseca Law Firm Leak & Attorney-Client Privilege

Ronald Marini

We previously posted DoJ Launches Criminal Investigation of Hundreds of US Taxpayers Named in Panama Papers Leak! where we discussed that the offshore planning world was set on fire with the news that 11 million documents were leaked from the Panamanian law firm Mossack Fonseca.

They allegedly show how Mossack Fonseca has helped clients launder money, dodge sanctions and evade tax and now The Guardian reports that U.S. Attorney Preet Bharara has “led several crusades against criminal wrongdoing in the financial sector, is already investigating several of the more than 200 US citizens named in the papers.”
Read More

Top 25 International Tax Questions

John Dundon

Please feel welcome in the USA. Fear NOT the paper tiger that is the US Tax Code or the rhetoric of pantywaist politicians! Much of maintaining compliance with the US Tax Code distills down to understanding among other things these 3 simple concepts:

1.The tax obligations of your current visa

2.What country you are effectively connected

3.Whether you meet the substantial presence test in the USA Read More

Senior Tax Manager/Reporting And Compliance – Washington DC

kat2313

Senior Tax Manager/Reporting And Compliance -Washington DC

TaxConnections Executive Search Division has been retained to conduct a search for a Senior Tax Manager/Reporting and Compliance. The incumbent will be responsible for preparing, overseeing, reviewing and filing federal and state tax returns and certain regulatory reports applicable to a tax-exempt financial Read More

Tax Considerations When Dealing With Foreign Transactions

Maurice Glazer

Tax Considerations When Dealing With Foreign Transactions

As a follow-up to questions, about tax considerations when dealing with foreign transactions , one of the big areas of concern is the area of foreign entities and the income effects that they have on our person tax returns. Controlled Foreign Corporations have a unique capability of delaying the paying of tax until the income is Read More

Over 20 Countries Join UK-led Pilot for Automatic Data Sharing

Ronald Marini

Chancellor of the Exchequer, George Osborne hailed the international expansion of a UK-led deal to automatically share information on the ultimate owners of companies as over 20 jurisdictions, including British crown dependencies, overseas territories and EU member states sign up.

Gibraltar, Isle of Man and Montserrat are amongst those joining the pilot initiated by the UK and launched with Germany, France, Italy and Read More

Wanted: Senior Tax Director- Family Wealth Office

Kat Jennings

 

The Senior Director/Family Tax serves as a trusted tax advisor to a family office regarding tax matters in San Francisco/San Jose area. The incumbent is responsible for guiding the family in respect to a myriad of tax issues, including  individual tax, trusts, estate tax, partnership tax, Subchapter S tax, gift tax, and private foundations.  The Senior Director/Family Tax collaborates with Family Office Executives, communicates Read More

The IRS Issues New Version of Form W-8 BEN-E

Ronald Marini

 

On December 17, 2014 we posted How to Complete Form W-8 BEN E & and W-8IMY? where we discussed how to fill out the various Form W–8’s, which now has increased to 8 pages in some cases.

This post provided foreign entities a set of step-by-step instructions to complete the new Forms W-8BEN-E and W-8IMY, as well as a general overview of the obligations imposed on foreign financial institutions under the new chapter 4 FATCA regime including: Read More

Lights, Camera, Action and Tax Cut!

Peter Scalise

Your Practical Guide to Movie Production Tax Incentives

Introduction

Whether you’re a publicly held movie studio conglomerate producing and distributing substantial numbers of films annually commanding significant shares of box office revenues worldwide or an independent filmmaker, movie production tax incentives should certainly be considered and incorporated into the tax planning process to properly tax effect the cost of filmmaking.    Read More

Can IRS Stop Printing Forms And Pubs?

Annette Nellen

Who remembers when the IRS mailed a packet with blank tax forms and instructions AND your Social Security number printed on your mailing label?  Several years ago the IRS reduced mailings such as when they could tell the taxpayer prepared their return with software the year before and for the past few years don’t mail forms.  They do still print them to pick up at IRS service locations. All of the forms, instructions and publications can be read or printed from the IRS website. Read More

DoJ Launches Criminal Investigation of Hundreds of US Taxpayers

Ronald Marini

On April 4, 2016 we posted Huge Leak From the Panamanian Law Firm Mossack Fonseca! where we discussed that the offshore planning world was set on fire with the news that 11 million documents were leaked from the Panamanian law firm Mossack Fonseca.  They allegedly show how Mossack Fonseca has helped clients launder money, dodge sanctions and evade tax.

This post also speculated that U.S. persons will probably show up, Read More

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