According to IRS National Taxpayer Advocate Nina Olson, it will take practitioners an average of 52 minutes to get through to the IRS on its dedicated telephone line in 2015. Speaking at the American Institute of CPAs National Tax Conference, Olson says it will also take the taxpaying public 34 minutes to get questions about…
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Ex-UBS Exec & Ex-Mizrahi Banker Found Not Guilty In Tax Evasion Trials!
According to Law360, Miami (November 03, 2014, 5:04 PM ET) -- Jurors in federal court in Fort Lauderdale, Florida, found former UBS AG executive Raoul Weil not guilty of conspiracy to defraud the United States for his alleged role in helping nearly 20,000 U.S. clients hide $20 billion in assets from the Internal Revenue Service.…
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Panama Re-Examining the OECD's Automatic Exchange of Information!
According to the My Panama Lawyer Blog, The Ministry of Foreign Relations of Panama, headed by Vice-President Isabel de Saint Malo posted this communique in its website: “Panama is in the process of re-evaluating its strategy to meet state requirements for financial transparency and exchange of information at international level, without neglecting national interests. The…
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European Union Savings Directive (EUSD) – Amendment Is Coming Soon
Banks in EU must report beneficial owner information or implement 35% withholding tax on any interest payment to zero tax offshore entity effectively managed in the EUSD territory. There is a list of jurisdictions outside the scope of the EUSD and includes Barbados, Panama, Belize, Bermuda and Hong Kong and St.Lucia among others. Also the list includes places…
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