We had previously posted on August 10, 2016, Cayman Islands FATCA Reporting of American Depositors is TODAY - Don't Wait Until it is TOO Late to Come Clean! where we discussed that August 10, 2016 was the deadline for Cayman Islands financial institutions to complete their notification and reporting of American Clients' accounts to the…
Read more
Trump’s 45% Tariff on Chinese Imports and How to Avoid It?
On February 10, 2017 we post we posted Border Tariff or Border Adjustment Tax or US VAT? where we discussed that there's a lot of talk these days about borders and taxes in Washington. U.S. President Donald Trump wants to hit firms that outsource with a simple tariff on imports, but republicans in Congress have…
Read more
Corp Exec. Must Face Criminal Charges for Failure to Withhold Payroll Taxes
According to Law360, a software and hospitality executive accused of not withholding federal taxes must face criminal charges after the U.S. Supreme Court refused Monday to consider his challenge of a Sixth Circuit decision holding that those charges are not precluded by a civil suit court order forcing him to work without pay. Rankin had been…
Read more
IRS Updates IRM For Private Debt Collection Program
On April 4, 2017 we posted Private Debt Collection of Some Overdue Federal Taxes Starts in April! where we discussed that the IRS announced that it plans to begin private collection of certain overdue federal tax debts next starting April 2017, the Internal Revenue Service will begin sending letters to a relatively small group of taxpayers whose…
Read more
