US citizens who live and work abroad need more clarity from the IRS to prevent them from falling victim to harsh, costly reporting requirements for foreign trusts, taxpayers and advocates told IRS and Treasury Department officials Wednesday.
Many Americans overseas have foreign retirement plans the US regards as foreign trusts that have to file with the IRS. The foreign-trust rules are often unclear and hard to interpret, and the IRS needs to be clearer about when offshore retirement plans do and don’t need to be disclosed, witnesses told the officials at a public hearing.
Gibraltar reaffirms its commitment to global tax transparency and crypto-asset regulation by adopting the Crypto-Asset Reporting Framework (CARF), with exchanges set to begin by 2027. In a statement
The proposed tax aims to address national debt and increase revenue from the wealthiest citizens.The French government is taking significant steps to address its mounting national debt, projected to
A provisional agreement on a new anti-money laundering law that will step up checks and balances across multiple sectors, including cryptocurrency, while also giving journalists access to a beneficial
Kenya must urgently implement key financial sector reforms to address gaps in anti-money laundering and counter-terrorism financing, according to a new report released following the Inaugural Kenya