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.
Foreigners are rushing to buy properties in Greece to acquire residency through the Golden Visa Program ahead of the new changes. From September 1, the minimum investment requirement for golden visas
The Financial Crimes Enforcement Network (FinCEN, a part of the U.S. Treasury) has new federal reporting requirements for Beneficial Ownership Information (BOI) that may impact bookstores. It requires
Press Release from Carey Olsen, Wednesday 18 September, 2024. Carey Olsen’s investment funds team in Guernsey has advised European private equity firm Inflexion Private Equity Partners LLP (“Inflexion”)
HM Revenue & Customs’ tax unit, known for targeting the affluent, has more than doubled its revenue from wealthy individuals in a single year, amassing over £1.5 billion in 2023-24 amidst