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.
Chinese authorities have stepped up calls on investors to pay taxes on their global gains, forcing wealthy individuals to rethink their trading strategy as Beijing tries to fill its coffers to counter
The European Commission has launched infringement procedures against Cyprus concerning its implementation of three key pieces of EU legislation. Firstly, Cyprus is one of six member states yet to implement
African countries now have to pay a CO2 border tax when exporting to Europe and are burdened with a huge amount of paperwork before they’re even allowed to export to the EU. There is a risk that this
President Donald Trump has provided an update on the new “Gold Card,” announcing that the visa would go on sale “very, very soon.” “It’s like the green card, but