Luxembourg has gazetted a law establishing the compulsory public register of company beneficial owners, as required by article 30 of the EU Fourth Anti-Money Laundering Directive. Entities falling within its scope will have until 1 September 2019 to comply. Members of the public will not have access to the beneficial owners' private residential, professional address…
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Canada Shares 600,000 Bank Accounts to the IRS Every Year
The Canada Revenue Agency is now transferring 600,000 bank account records to the US authorities every year, according to CBC news. In 2016 and again in 2017, the Canada Revenue Agency provided the IRS with information on 600,000 Canadian bank accounts each year. That's a sharp increase from the 300,000 records shared in 2015 and…
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IRS Reopens & Starts 2019 Tax-Filing Season
The Internal Revenue Service successfully opened the 2019 tax-filing season today January 28, 2019 as the agency started accepting and processing federal tax returns for tax year 2018. Despite the Major Tax Law Changes Made by the Tax Cuts and Jobs Act, the IRS Was Able to Open this Year’s Tax-Filing Season One Day Earlier than…
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IRS' Shutdown Impact on Tax Court Cases
The United States Tax Court’s website (www.ustaxcourt.gov) announced that the Tax Court shut down operations on Friday, December 28, 2018, at 11:59 p.m. and will remain closed until further notice. The IRS reminds taxpayers and tax professionals the Tax Court website is the best place to get information about a pending case. There are some…
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