Energy & Environment — Manchin works on Sinema for climate, tax deal
Us inheritance tax for non us citizens Sens. Joe Manchin (D-W.Va.) and Krysten Sinema (D-Ariz.) are in discussions over a […]
2022
‘A stain on the tax code’: Hedge fund legend Bill Ackman urges Biden to close the loophole that helped make him billions
Cross border tax advice William Ackman isn’t known for his political takes. Typically, the billionaire hedge fund manager spends his
Is your crypto exchange prepared to issue 1099-Bs? Here’s how to do it easily
In order to be prepared for this change, you need to know what exactly is coming quickly down the road for crypto exchanges and wallets, what kind of reporting will be required of you, and why it might not be a good idea to build those capabilities in-house.
Yellen says US aims to move ahead with global minimum corporate tax despite setback
Us inheritance tax for non us citizens US Secretary of Treasury Janet Yellen arrives at the meeting room during the
What Are Three Essential Tax Laws Foreign Owners of U.S. Real Estate Need to Know?
While U.S. citizens and persons who are deemed to be domiciled can enjoy an estate tax exemption in 2022 of $12,060,000, that figure does not apply to nonresident aliens. The exemption amount for a nonresident alien decedent is actually only $60,000, and any amount that exceeds that figure is subject to estate tax that ranges anywhere from 26% – 40% . The estate tax exemption applies to all assets, not just real estate. Real estate property falls under the blanket estate tax exemption if the property is an asset in a decedent’s estate.
TIGTA Highlights the IRS’ FATCA Enforcement Woes
In the first 12 years of the U.S. Foreign Account Tax Compliance Act, the IRS has spent nearly $600 million on enforcement but has only managed to collect $14 million in penalties in return. This poor performance indicates that the agency strongly needs to revise its enforcement strategy according to a recent audit report by the Treasury Inspector General for Tax Administration.
Democratic bill would mandate new IRS free tax-filing program
Us settlors trust Sen. Elizabeth Warren is leading fellow Democrats in renewing a push for the IRS to create its
Premier League Shakes Up as Over 300 Footballers Probed for Tax Avoidance
Global tax and accounting My Football Facts ⇒ Articles By Martin Graham | 11th Jul 2022 According to recent reports,
The Cost of Non-Compliance With IRS Form 926
IRS Form 926 is the form U.S. citizens and entities including estates and trusts must file to report certain exchanges or transfers of property to a foreign corporation. This would include transfers of cash over $100,000 to a foreign corporation, or situations in which the transfer of cash resulted in owning more than 10% of the foreign corporation’s stock. This reporting requirement applies to outbound transfers of both tangible and intangible property
Crypto trading volume drops in India as additional taxes hit investors
Us gaap revenue recognition India’s government on July 1 implemented a 1% tax deducted at the source (TDS) on every