According to DoJ, a grand jury in Detroit, Michigan, returned an indictment on October 10, 2019, charging Carl L. Collins III, a Michigan attorney, with tax evasion, filing two false tax returns and seven counts of willfully failing to file individual and corporate tax returns. According to the indictment, Collins was a personal injury attorney with…
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2 Million ITINs Set to Expire in 2019 – Renew to Avoid Refund Delays
On June 20, 2019 we posted Millions of ITINs Are Set to Expire in 2019 where we discussed that in IR-2019-118 the IRS stated that nearly 2 million Individual Taxpayer Identification Numbers (ITINs) are set to expire at the end of 2019 as the Internal Revenue Service continues to urge affected taxpayers to submit their renewal applications early to avoid…
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First Ever Indian Has Their USA E-2 Visa Application Granted Through the Grenada Citizenship by Investment Program
On August 30, 2017 we posted New US E Business Visa Route for Frustrated Central American, Chineese, Indian & Venezuelan Investors, where we discussed thatCitizenship applications for the Caribbean island of Grenada have boomed in the last three years. Reports have emerged that Grenada’s citizenship by investment program, introduced in 2014, is being used to fast-track…
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IRS Issues Rules to Determine CFC Status as if Section 958(b)(4) Hadn’t Been Repealed
On October 2, 2019, we posted IRS Grants Relief for Certain Foreign Stock Ownership! where we discussed that new regulations from the Internal Revenue Service provide relief to some U.S. taxpayers who own stock in certain foreign corporations. Rev. Proc. 2019-40 and the proposed regulations limit the inquiries required by U.S. taxpayers to determine whether certain foreign businesses are…
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