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.
Press Release from Carey Olsen, Friday 23 February, 2024. Carey Olsen and Alter Domus have advised healthcare and sustainability investment firm Gyrus Capital S.A (“Gyrus”) on the final
The Georgian Parliament did not consider the president’s substantiated remarks presented during the veto procedure on the offshore law and thus overrode the veto. In her remarks, Georgian president Salome
Press Release from Jersey Finance, Monday 22 April, 2024. Jersey Finance has announced the appointment of Chris Jenkins as its Global Head of Market Development, following the departure of Allan Wood
Once synonymous with secrecy and shadows, offshore banking has transformed in the past decade. In the wake of the U.S. Foreign Account Tax Compliance Act (FATCA) and the OECD’s Common Reporting Standard