IRS Criminal Investigation Division Assembles New International Tax Enforcement Unit
With international tax compliance on the IRS’s radar, it was revealed publicly to reporters on August 2, 2017, that the IRS Criminal Investigation Division (IRS-CI) is assembling a new, dedicated international tax enforcement unit. The new initiative is expected to be fully operational by October 1. U.S. persons’ worldwide income and foreign financial assets are […]
Costa Rica Expats May Soon Experience the Benefits of Residency-Based Taxation
For many years, the persistent call for change in the taxation of American corporations and individuals abroad has gone unanswered. However, the current administration’s actions, suggest the very real possibility of new tax rules, sooner rather than later. Indeed, assuming no major legislative disturbance or some catastrophe, such as a Russian-related scandal or open conflict […]
Potential Tax Changes for Americans in Panama
For many years, the persistent call for change in the taxation of American corporations and individuals abroad has gone unanswered. However, the current administration’s actions, suggest the very real possibility of new tax rules, sooner rather than later. Indeed, assuming no major legislative disturbance or some catastrophe, such as a Russian-related scandal or open conflict […]
A Guide to Trump’s Proposed Tax Plan
Trump’s administration released their proposed tax plan with few details in a one page memo outlined with broad goals and few details. If passed, it could dramatically change the way Americans pay taxes and would be the biggest overhaul in the federal taxation system since 1986. The White House said one of the main goals […]
Panama Papers: Germany Pays Millions for a Copy of the Leaked Data
The Federal Crime Office (BKA) in Germany has confirmed that it is in possession of a copy of the alleged Panama Papers and will use the information to investigate possible offshore tax evasion by German citizens. In addition to the obvious tax fraud, they intend to look for evidence of arms trafficking and organized crime. […]
What You Need to Know About Your Side Income and Taxes
With the cost of living continuing to rise, many Americans with full time jobs, supplement their income by pursuing ventures on the side. These may include driving for Uber, renting out rooms in their home through services such as AirBNB, selling through a multi-level marketing company such as It Works!, or by selling homemade products […]