Blog
Spring 2012 – ‘Searching for El Dorado’
Download PDF Despite a general sense of unease that has permeated much of the commentary about the global economy and the capital markets, the U.S. stock market has logged an impressive run from the lows in October to now. Clearly all [...]
IRS Releases Additional Guidance Implementing the Foreign Account Tax Compliance Act
The IRS recently released long-awaited proposed Regulations providing additional guidance on the implementation of the Foreign Account Tax Compliance Act (“FATCA”), which was passed by Congress in March 2010. The 388 pages of guidance provide additional detail on the rules that will [...]
What’s New on the 2011 Form 1040?
As we enter the 2011 tax return filing season, we again recognize that many different tax forms underwent administrative and legislative changes over the past year. This article reviews some of the changes to the 2011 Form 1040 – U.S. Individual Income [...]
Winter 2011 – ‘Investing as a Behavioral Science’
Download PDF Happy New Year! That cheery salutation rings hollow in the ears of some as the nation struggles with a myriad of critical problems. The current list of concerns is long and familiar: slow economic growth, too much debt, government [...]
Dale Mason Led the Nexia Global Mobility Tax Forum
The Wolf Group is a proud member of Nexia International, a highly regarded global network of independent accountancy, tax, and business advisors with 600 offices in over 100 countries. Our International Tax Director, Dale Mason, is the Chairman of the Nexia Global [...]
Draft Specified Foreign Financial Asset Form is Released
In March of 2010, Congress passed the Hiring Incentives to Restore Employment Act (the “HIRE Act”), which included the Foreign Account Tax Compliance Act (“FATCA”). FATCA created a new reporting requirement for certain U.S. taxpayers who own certain foreign financial assets. U.S. [...]
IRS Continues to Tinker with Foreign Bank Account Reporting Rules
Like several other countries, the United States has undertaken an intense and sustained campaign to crack down on international tax evasion in recent years. The IRS’s efforts to date have centered on the U.S. Treasury Department’s Foreign Bank Account Report, Form TD [...]
The Wolf Group Expands to Singapore
The Wolf Group is pleased to announce a joint venture with The Iyer Practice, a highly regarded professional accounting and business consulting services firm in Singapore. The Iyer Practice, also a Nexia member firm, has been in Singapore for 17 years, serving [...]
Special U.S. Income Tax Treatment of Foreign Mutual Funds
Decades ago, United States citizens and residents were able to defer U.S. income taxes by investing in certain foreign corporations, mainly foreign mutual funds. Because these funds were not required to distribute income to shareholders annually as U.S. mutual funds are required [...]
2011 Offshore Voluntary Disclosure Initiative Closes
The IRS’s second partial amnesty program related to previously unreported foreign financial accounts, the 2011 Offshore Voluntary Disclosure Initiative (“2011 OVDI”), ended on September 9th. The IRS reports that 12,000 taxpayers came forward under this program, with additional applications still being counted. [...]
