by bettywilliams | Jul 14, 2020 | International Tax Law, OVDP, Tax Crimes
It has been two years since international tax leaders from Australia, Canada, the Netherlands, the United Kingdom, and the United States joined forces in the “J5” to combine resources to target enablers of tax crime, particularly related to virtual currency. Since its...
On behalf of Law Office of Williams & Associates, P.C. | Nov 21, 2019 | International Tax Law, New Laws
As recently discussed here, the current state of the law allows business owners in the cannabis industry to take certain deductions on their state income tax returns, but not on their federal tax returns. That may soon change. The House Judiciary Committee approved...
On behalf of Law Office of Williams & Associates, P.C. | Feb 11, 2016 | International Tax Law
The US Internal Revenue Service announced that their Advance Pricing and Mutual Agreement office will begin accepting requests for bilateral advance pricing agrements between the United States and India starting February 16, 2016. These agreements will help make...
On behalf of Law Office of Williams & Associates, P.C. | Jan 6, 2016 | International Tax Law
During the last two weeks of 2015, the United States Department of Justice announced that Bank Lombard Odier& Co Ltd, DZ Privatbank (Schweiz) AG, Bank J. Safra Sarasin AG, Coutts & Co Ltd, Gonet & Cie, and Banque Cantonal du Valais reached resolutions...
On behalf of Law Office of Williams & Associates, P.C. | Oct 16, 2015 | International Tax Law
Now that the United States and numerous foreign jurisdictions have begun the automatic third-party financial account reporting exchange, it is less likely that offshore financial accounts will go unnoticed by the IRS. The IRS reminds taxpayers to take advantage...
On behalf of Law Office of Williams & Associates, P.C. | Oct 14, 2015 | International Tax Law
The IRS met its deadline to begin the reciprocal automatic exchange of tax information with some foreign jurisdiction tax administrators as agreed under the intergovernmental agreements (IGAs) as part of the Foreign Account Tax Compliance Act (FATCA). As of September...
On behalf of Law Office of Williams & Associates, P.C. | Oct 5, 2015 | International Tax Law
On Friday, October 2, 2015, the Internal Revenue Service (“IRS”) announced the exchange of financial account information with certain foreign tax administrations, meeting a key Sept. 30 milestone related to FATCA, the Foreign Account Tax Compliance Act.The...
On behalf of Law Office of Williams & Associates, P.C. | Aug 17, 2015 | International Tax Law
Once again, the Department of Justice has flexed its muscles and shown dishonest financial professionals that if they help clients hide assets offshore or create sham entities for clients to evade taxes, they will be prosecuted. The tax preparers in this case helped...
On behalf of Law Office of Williams & Associates, P.C. | Jun 30, 2015 | International Tax Law
In the past two weeks, three Swiss banks–Bank Linth LLB AG (Bank Linth), Bank Sparhafen Zurich AG (BSZ), and Ersparniskasse Schaffhausen AG (EKS)-have reached resolutions under the Department of Justice’s Swiss Bank Program. The Swiss Bank Program, which...
On behalf of Law Office of Williams & Associates, P.C. | Jun 25, 2015 | International Tax Law
For those with one or more bank of financial accounts located outside the United States, or those who have signature authority over such accounts, Report 114, Report of Foreign Bank and Financial Accounts is due Tuesday, June 30, 2015. For more information, see the...
