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.
In effect since March 2021, the Sustainability Financial Disclosure Regulation – Regulation (EU) 2019/2088 (SFDR) – introduced transparency in the market for sustainable investment products as part
The UK government has granted greater powers for the National Crime Agency (NCA) and police to seize, freeze and destroy cryptoassets used by criminals, effective today. Criminals, including drug traffickers,
Global AML watchdog the Financial Action Task Force (FATF) says it has made major changes to the criteria it uses for placing countries on its “grey list” of nations under increased monitoring,
On 4 December 2024, the General Director of the Department of Finance, Dubai, issued Administrative Resolution No. 107 of 2024 (the “Resolution”), providing guidance on the implementation