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.
Hedge funds piled into long positions on U.S. real estate investment stocks in the week ending Friday, the sixth straight week that these speculators bet on a rebound in commercial and industrial properties,
Austria aims to agree within weeks to give other European Union countries access to foreigners’ bank account details, Chancellor Werner Faymann said on Saturday, allowing the bloc to begin talks
Digitization and stepped-up checks of tax returns is bringing more money into Greece’s state coffers and some of that will be used to reduce taxes, Finance Minister Kostis Hatzidakis. He told the
Brazil’s vision for a global deal to tax the ultra-rich sparked divisions Thursday at a meeting of G20 finance ministers in Rio de Janeiro, where Washington dismissed the need for an international