The IRS has announced a special voluntary disclosure initiative to return offshore money back into the U.S. tax system and help taxpayers with offshore accounts get compliant. The new initiative is called the 2011 Offshore Voluntary Disclosure Initiative (OVDI) and is similar to the 2009 Offshore Voluntary Disclosure Program (OVDP), the last such amnesty program for taxpayers with international accounts.
U.S. taxpayers are generally required to report their worldwide income on their tax returns, even if that income is not taxable. This is different from the rules in many other countries.
The Treasury Department finalized rules for a major clean energy tax cut Wednesday. The credit, extended by the 2022 Inflation Reduction Act, is a potential boon for offshore wind, geothermal, energy
The Organisation of Islamic Countries Arbitration Centre (OIC- AC) has indicated interest in supporting foreign direct investment into Nigeria though amicable resolution of disputes. The Secretary General
China has begun enforcing a long-overlooked tax on overseas investment gains by the country’s ultra-rich as it seeks to expand revenue sources amid a slumping economy and declines in domestic land
The government is looking at the use of data scraping from social-media platforms in the battle against tax evasion, Deputy Economy Minister Maurizio Leo said on Wednesday. “What needs to be done,