The Internal Revenue Service today announced a delay of approximately one to two weeks to the start of the 2014 filing season to allow adequate time to program and test tax processing systems following the 16-day federal government closure. The IRS is exploring options to shorten the expected delay and will announce a final decision…
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Was Raoul Weil the Ex-UBS Banker Your Banker?…You May Want to Contact M&A Immediately!
An Italian judge ruled on Tuesday, October 22, 2013, that Raoul Weil, the ex-UBS banker wanted in the United States over allegations of helping Americans dodge taxes, must remain in custody while awaiting possible extradition to the US. The decision was handed down by a judge of the Court of Appeal in Bologna, where Weil, a…
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The Foreign Account Tax Compliance Act (FATCA) Its Impact on Corporate Agents and Trustee Services
The US has in recent years stepped up its initiatives to counter tax evasion and as part of this effort has introduced the FATCA statute. Although the primary purpose of FATCA is prevention and detection of tax evasion by US persons, it will have a significant impact across financial markets and affect non-US companies and…
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IRS Re-Opens After the 16 Day Shut Down!
The IRS started reopening operations on Oct. 17. Employees are reporting back to work, and the IRS IS assessing the impact of the 16-day shutdown on their national operations. At this point, the IRS has received a large amount of correspondence during the closure. They know there will be a substantial increase in demand for their IRS phone…
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