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Streamlined Domestic Offshore Procedures: (New) How to Apply

TweetShareSharePin0 Shares Streamlined Domestic Offshore Procedures Streamlined Domestic Offshore Procedures (IRS) Streamlined Domestic Offshore Procedures: When a Taxpayer is non-willful and has not properly disclosed foreign accounts, assets, investments, and/or income on IRS and FinCEN forms such as FinCEN Form 114 (FBAR) and FATCA Form 8938 — then they may qualify for the Internal Revenue

Streamlined Foreign Offshore Procedures: (New) How to Apply

TweetShareSharePin0 Shares Streamlined Foreign Offshore Procedures Streamlined Foreign Offshore Procedures: The Streamlined Foreign Offshore Procedures (SFOP) is an IRS program for non-U.S. residents (foreign residents). The purpose of the foreign offshore program is to bring non-residents into offshore compliance. Taxpayers may submit amended or original prior year tax returns, and international information returns such as

Streamlined Foreign Offshore Procedures: (New) How to Apply

TweetShareSharePin0 Shares Streamlined Foreign Offshore Procedures Streamlined Foreign Offshore Procedures: The Streamlined Foreign Offshore Procedures (SFOP) is an IRS program for non-U.S. residents (foreign residents). The purpose of the foreign offshore program is to bring non-residents into offshore compliance. Taxpayers may submit amended or original prior year tax returns, and international information returns such as

Massive, Secret Offshore System Hid Billions of Dollars

TweetShareSharePin0 Shares And a blurry timeline for Democratic legislative priorities. President Joe Biden told House Democrats to delay action on the bipartisan infrastructure bill until they can agree on a scaled-back tax and spending package to fund the rest of his economic agenda. How long that will take is anybody’s guess. Senate Democratic leader Chuck

Massive, Secret Offshore System Hid Billions of Dollars

TweetShareSharePin0 Shares A blurry timeline for Democratic legislative priorities. President Joe Biden told House Democrats to delay action on the bipartisan infrastructure bill until they can agree on a scaled-back tax and spending package to fund the rest of his economic agenda. How long that will take is anybody’s guess. Senate Democratic leader Chuck Schumer

Isle of Man banking data leak reveals how sharing banking data can identify offshore strategies and improve beneficial ownership transparency.

TweetShareSharePin0 Shares Beneficial ownership transparency is a crucial strategy for tackling illicit financial flows. It involves identifying the individuals (natural persons) who ultimately own, control, or benefit from a legal vehicle like a company, trust or partnership. Individuals engaging in illegal or illegitimate activities, however, find it quite easy to hide themselves behind legal vehicles,

Streamlined Domestic Offshore Procedures: How to Apply 2021

TweetShareSharePin0 Shares Streamlined Domestic Offshore Procedures Streamlined Domestic Offshore Procedures (IRS) Streamlined Domestic Offshore Procedures: Since the IRS both closed OVDP (2018) and ended DIIRSP (2020), the big question is whether Streamlined may be next up on the chopping block. The Streamlined Procedures are a great offshore disclosure program. In 2014, the IRS developed the

EU To Table A Digital Tax Proposal In October

TweetShareSharePin0 Shares by Ulrika Lomas, Tax-News.com, Brussels 15 September 2021 The European Commission has committed to tabling a proposal for a digital tax in October, whether or not an international agreement surfaces from OECD-led talks on new international tax rules for the world’s largest firms. The pledge was made after members of the European Parliament

US Lawmakers Approve New Cryptoassets Reporting Rules

TweetShareSharePin0 Shares by Mike Godfrey, Tax-News.com, Washington 25 August 2021 The US Senate has approved the inclusion of new provisions in the bipartisan infrastructure bill to require intermediaries involved in cryptocurrency trading to report details about transactions. Despite concerns raised by various lawmakers that the provisions fail to provide clarity about who the reporting

Hong Kong Discusses US Termination Of Shipping Tax Pact

TweetShareSharePin0 Shares by Mary Swire, Tax-News.com, Hong Kong 25 August 2021 The Hong Kong Government has said it is looking at potential measures to support the shipping industry following the decision by the US Government to terminate the two territories’ agreement that exempted shipping industry income from tax. US authorities announced in October 2020
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