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Monthly Archives: September 2011

HSBC India Client Indicted by U.S. Over $8.7 Million Account

Sept. 28 (Bloomberg) --  A Wisconsin neurosurgeon was re- indicted by a U.S. grand jury on new charges that he failed to declare an HSBC Holdings Plc account in India valued in 2009 at $8.7 million. Arvind Ahuja was indicted again by a federal grand jury in Milwaukee, where he was initially charged June 28 with…
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FATCA Postponed – Implementation Time Table

 IRS Notice 2011-53 delays both the FATCA §1471 withholding and reporting requirements one year to January 1, 2014, and phases in those requirements over two years starting in 2014. The revised version of Notice 2011-53 extends the application of the phase-in to §1472 as well.  We have provided a Table Below listing the details of the time…
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M&A Land Mark Victory cited in recent Florida Tech Advice

Florida - Gambling Ship Eligible for Exemption on Certain Receipts, Advisory Explains SUMMARY Facts: The taxpayer is a Florida Limited Liability Company organized in the state of Florida. The taxpayer will operate a gaming and entertainment ship, which will operate out of the Port Authority, Florida. Question: Is the taxpayer eligible for the partial exemption…
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