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Monthly Archives: June 2018

Donald Trump Used His Charity As Campaign Checkbook Says NY AG

According to Law360, the New York state attorney general's office accused the Trump Foundation on Thursday of self-dealing in a suit seeking a ban on President Donald Trump from operating any Empire State nonprofit for 10 years, one-year bans for three of his children and $2.8 million of restitution. The Manhattan Supreme Court lawsuit, which…
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IRS Offers Penalty Relief to Many Subject to New Transition Tax

The Internal Revenue Service today June 4, 2018 announced in IR-2018-131 that it will waive certain late-payment penalties relating to the section 965 transition tax, and provided additional information for individuals subject to the section 965 transition tax regarding the due date for relevant elections. The IRS explained the relief in three new FAQs, posted today on…
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US Expats Having Their Accounts Frozen by US Banks

US banks are freezing accounts and investments for American "Expats" to avoid the cost of money laundering and tax avoidance laws.   Hundreds of expats have had letters from Fidelity, Wells Fargo, Merrill Lynch, Morgan Stanley and other US financial institutions to notify them that Their Accounts are Closed.   The banks say strict US…
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