Do you owe a substantial amount of taxes to the IRS? If so, you've likely looked into establishing a payment plan. What if you are simply unable to pay your tax balance? In this case, you might consider requesting an offer in compromise, which is a last-resort option that allows you to settle your account…
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OECD Guidance for CRS Automatic Exchange in Tax Matters
On May 23, 2017 we posted May 31st Is Deadline For CRS Reporting where we discussed that two weeks before the first OECD Common Reporting Standard (CRS) reporting deadline of May 31, there are 47 Reportable Jurisdictions for the 2017 reporting year, in respect of 2016 reportable accounts.On April 6, 2017 the OECD released on new guidance for…
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May 31st Is Deadline For CRS Reporting
Two weeks before the first OECD Common Reporting Standard (CRS) reporting deadline of May 31, Barbados, Curacao, and Niue and Trinidad and Tobago have been withdrawn from the OECD list of reportable jurisdictions for 2017, and have been moved to the list of reportable jurisdictions for 2018. The following are now the Reportable Jurisdictions for…
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Multinational Big Business Lobby For 3.5% Offshore Repatriation Tax
According to various news reports, US multinationals are "pushing" the US government to further reduce the tax rate on offshore profits. Major U.S. multinationals are pushing the Trump administration to deepen the tax break it has already tentatively proposed on $2.6 trillion in corporate profits being held offshore by more than 500 U.S. companies. Nearly a…
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