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.
Panama on Thursday lashed out at the European Union for keeping the country on its tax haven blacklist despite its efforts to crack down on tax evasion. President Jose Raul Mulino said he had asked
Press Release from Carey Olsen, Tuesday 23 April, 2024. Carey Olsen’s corporate team in Guernsey is advising Hipgnosis Songs Fund Limited (“Hipgnosis”), a Guernsey-registered, GFSC-regulated
The digital transformation roadmap recently published by the UK tax authority confirmed what many suspected—that Making Tax Digital for Corporation Tax is no longer going ahead. For businesses and
The value of international loan securities issued by African entities to raise funds for investments complying with Environmental, Social, and Governance principles has hit $4.4bn in 2024. According