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International Tax Issues Foreign Account Tax Compliance Act

Foodman CPAs & Advisors

Reforma Fiscal de EE. UU. 2025: Cerrando Brechas de Cumplimiento en Fideicomisos Offshore y Estructuras Transfronterizas

La legislación fiscal de EE. UU., promulgada el 4 de julio, amplía las obligaciones de reporte para fideicomisos extranjeros y entidades con traspaso de ingresos, al tiempo que consolida disposiciones clave de la reforma de...more

Foodman CPAs & Advisors

U.S. Tax Reform 2025: Closing Compliance Gaps in Offshore Trusts and Cross-Border Structures

The July 4 U.S. tax legislation expands reporting obligations for foreign trusts and pass-through entities while locking in key provisions from the 2017 reform. For attorneys and advisors to high-net-worth individuals, this...more

Hone Maxwell

Understanding FATCA and Its Impact on Foreign Financial Institutions: Why Finding Financial Services as an American Abroad Can Be...

Hone Maxwell on

As an American living abroad, you may have experienced firsthand the challenges of finding a financial institution willing to work with you. Whether it’s for opening a bank account, investing in local markets, securing a...more

Allen Barron, Inc.

Serious Challenges for Expats and Those Considering Moving Abroad

Allen Barron, Inc. on

The world is an ever-changing, ever-evolving crucible of financial and other serious challenges for expats and those considering moving abroad, as well as foreign nationals living and working in the United States. Oversight,...more

Katten Muchin Rosenman LLP

Tax Transparency and Data Privacy — Which Wins?

As tax authorities embrace new digital technologies, the issue of safeguarding citizens' data privacy rights steps to the fore. Since the implementation of the EU General Data Protection Regulation (GDPR) in 2018, there has...more

Conyers

Guiding Captives Through Global Developments

Conyers on

Bermuda formed the first modern captive in 1962 and remains the leading offshore captive domicile, with approximately 700 licenced captives on its register. Bermuda’s captive industry has remained resilient in the face of...more

Allen Barron, Inc.

An International Tax Primer for US Taxpayers and Expatriates – Part 1 of 2

Allen Barron, Inc. on

Welcome to part 1 of our Allen Barron International Tax Primer for US Taxpayers and Expatriates. The United States is one of the few countries in the world that taxes its citizens on their worldwide income. US taxpayers are...more

Walkers

Guernsey Guide: legal, regulatory, transparency and supervisory framework

Walkers on

This briefing explains Guernsey’s adoption of rigorous international tax and regulatory standards, which, in conjunction with its local tax law, make it an ideal location for investment funds and other investment vehicles....more

Holland & Knight LLP

¿Cuáles fiscos de América Latina reciben automáticamente información de USA y cómo funciona?

Holland & Knight LLP on

El intercambio automático y masivo entre el fisco de Estados Unidos y otros países empezó con la ley de cumplimiento fiscal de cuentas extranjeras (Foreign Account Tax Compliance Act o FATCA). FATCA es parte de una larga...more

Freeman Law

International Tax Withholding | Chapter 3 of the Internal Revenue Code

Freeman Law on

One of the more confusing areas of international tax law is determining when withholding is required. Getting it wrong can have dire consequences. Currently, U.S. international withholding provisions can be found in...more

Orrick, Herrington & Sutcliffe LLP

French Bank Ordered to Pay Damages to Customer Following Inaccurate Personal Data Sharing Under FATCA

A “Kafkaesque” bank customer service experience in France has led to a “Right to be Forgotten” own-goal. Following a decision handed down by the judicial tribunal of Grenoble, France, on 7 February 2022, a French bank has...more

Carlton Fields

Les Obligations Fiscales et Formulaires Fiscaux aux États-Unis

Carlton Fields on

Qu’est-ce que le Foreign Account Tax Compliance Act (« FATCA ») ? Depuis plusieurs années, l’IRS mène une campagne agressive contre la fraude fiscale internationale et la nondéclaration de comptes bancaires et autres...more

Conyers

The DITC Issues Timely Compliance Reminders

Conyers on

The Cayman Islands Department for International Tax Cooperation (DITC) recently issued reminders to industry of compliance obligations in accordance with Common Reporting Standard (CRS) requirements and for the purposes of...more

Ballard Spahr LLP

United States “Beats” Switzerland as a Perceived Global Haven for Money Laundering and Tax Evasion

Ballard Spahr LLP on

The Cayman Islands Receive “Top Honors.”  But, Global Financial Transparency is Reportedly Improving in General - The United States has overtaken Switzerland as a financial secrecy haven, according to the latest rankings –...more

A&O Shearman

Treasury and the IRS Release Tax Guidance on the Transition from Interbank Offered Rates

A&O Shearman on

On October 8, 2019, the U.S. Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) released a pre-published version of proposed regulations addressing the principal tax consequences related to the...more

Proskauer - Tax Talks

Proposed Regulations Provide Clarity for Qualified Foreign Pension Fund Exception

Proskauer - Tax Talks on

On June 7, 2019, the U.S. Treasury Department (“Treasury”) and the Internal Revenue Service (“IRS”) released proposed Treasury regulations under Sections 897, 1445 and 1446 (the “Proposed Regulations”) regarding the exception...more

Jones Day

U.S. Treasury Releases Proposed FIRPTA Regulations

Jones Day on

New IRS guidance issued on qualified foreign pension fund exception. On June 6, 2019, the U.S. Treasury released proposed regulations under Internal Revenue Code section 897(l) providing guidance for "qualified foreign...more

Foodman CPAs & Advisors

¡Los Estados Unidos y Costa Rica tienen un Nuevo Acuerdo de Intercambio de Información Fiscal!

Foodman CPAs & Advisors on

El 20 de abril del 2018, los Gobiernos de Costa Rica y los Estados Unidos firmaron una nueva versión de su ACUERDO ENTRE EL GOBIERNO DE LOS ESTADOS UNIDOS DE AMÉRICA Y EL GOBIERNO DE LA REPÚBLICA DE COSTA RICA PARA EL...more

Foodman CPAs & Advisors

The US and Costa Rica have a New Tax Information Sharing Agreement!

Foodman CPAs & Advisors on

On April 20, 2018, the Governments of Costa Rica and the U.S.A. signed a new version of their AGREEMENT BETWEEN THE GOVERNMENT OF THE UNITED STATES OF AMERICA AND THE GOVERNMENT OF THE REPUBLIC OF COSTA RICA FOR THE EXCHANGE...more

Fox Rothschild LLP

LB&I Announces Five More Compliance Campaigns, Bringing Total To 50 Campaigns

Fox Rothschild LLP on

The Internal Revenue Service’s Large Business and International division (LB&I) announced the approval of five additional compliance campaigns. LB&I announced on January 31, 2017, the rollout of its first 13 campaigns,...more

Holland & Knight LLP

Información tributaria de 36 países ya está en Colombia

Holland & Knight LLP on

Por medio del comunicado de prensa No. 149 del 9 de octubre, la DIAN informó que en desarrollo de los Acuerdos de Intercambio de Información vigentes y de la Ley FATCA, recibió la información correspondiente al año 2016, de...more

Foodman CPAs & Advisors

IRS Criminal Investigation Unit (IRS-CI) will find you!

Due to the Foreign Account Tax Compliance Act (FATCA) and the work of IRS special agents, international tax transparency is here. There is virtually nowhere to hide. On 1/18/17, the Department of Justice (DOJ) reported that...more

Sheppard Mullin Richter & Hampton LLP

New Tax Information Exchange Agreement Between the United States and Argentina

The governments of Argentina and the United States signed on December 23rd, 2016, a new tax information exchange agreement (“TIEA”). Jack Lew, U.S. Treasury Secretary, stated that the TIEA will allow for important...more

Foodman CPAs & Advisors

“Spider Webs”, “Panama Papers” and IRS

IRS has asked involved U.S. taxpayers to come forward before IRS reads and dissects the “Panama Papers”. IRS will “plan how to use the huge trove of leaked documents to catch criminals — and urged Americans to come clean now...more

Foodman CPAs & Advisors

First FATCA Conviction!

On May 9, 2016, the Department of Justice (DOJ) announced its first FATCA conviction. It appears to be the beginning of criminal prosecutions by the DOJ against apparent or alleged violations of FATCA reporting requirements....more

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