On May 11, 2017 we posted Which of President Trumps Tax Proposals Will Become Law? where we discussed the that the most realistic baseline scenario regarding tax legislation is that there is a repeal of the ACA and associated taxes. While at this time, it is unclear what a replacement bill may look like. …
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Are You Hiding Assets in the BVI? NOT Anymore Your NOT!
The British Virgin Islands’ Government has signed new legislation regarding Beneficial Ownership & Technical Protocol with the UK which will come into force in June 2017, which is hoped to improve the exchange of beneficial ownership information between the UK & BVI law enforcement for taxation rulings. As per the agreement, the UK Government will…
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Which of President Trumps Tax Proposals Will Become Law?
As it relates to potential tax changes as a result of the Trump administration, we posted: Trump Also Proposes 15% Tax Rate For Pass-Through Entities, One Time Repatriation Tax & Switch To a Territorial Tax System Border Tariff or Border Adjustment Tax or US VAT? Ryan’s Border Tax Shaky as Trump Ponders Overhaul Plan Trump Presidency Could…
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Have Undeclared Income From Foreign Accounts? The OVDP Program May End After 2017?
U.S. taxpayers who have foreign bank and/or financial accounts should be watching the clock. The window to Voluntarily Report Foreign Accounts in order to mitigate IRS Penalties May Be Ending After 2017. According to Tax Analysts Exclusive: Conversations: Koskinen Looks to Future of Tax Administration, IRS Budget, IRS Commissioner John Koskinen stated on December 12, 2016 that,…
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