Blog
Do you need to report a repatriation tax on your 2017 return?
Do you have a 10% or more interest in a foreign corporation? If so, then you may have a repatriation tax issue on your 2017 (not 2018!) tax return. Although the new tax legislation signed into law by President Trump on December [...]
As an individual taxpayer, what should I know about the final provisions that made it into the new tax law?
On December 22, President Trump signed into law the most sweeping changes to the tax code in over 30 years. No one is left untouched. Individuals, corporations, sole proprietors, partnerships, S corporations, and multinational businesses are all affected. As the individual income [...]
The Repatriation Tax – 7 Takeaways
Do you have a 10% or more interest in a foreign corporation? If so, then you may have a repatriation tax issue on your 2017 (not 2018!) tax return. Under the new tax legislation, the United States is shifting international corporate taxation [...]
The U.S. Taxation of an American Princess – Meghan Markle
On November 27, 2017, the engagement of Prince Harry and Meghan Markle was announced to the press.[1] Prince Harry asked Markle to marry him in London, and the couple recently set the wedding date for May 19, 2018.[2] Ever since the engagement [...]
Which State and Local Taxes to Prepay by 12/31/2017?
December 22, 2017 As you may know, today the President signed into law the most sweeping tax legislation in a generation. Among the changes, starting in 2018, the new legislation limits the amount of state and local taxes that individuals may deduct [...]
Tax Reform Update
November 15, 2017 As this article went to press, the Senate was modifying its tax reform bill, which is now expected to include repeal of the Affordable Care Act's individual mandate. Additional tax changes are also expected, including full repeal of the estate tax. [...]
The IRS Is Peaking behind Bitcoin’s Mask
The U.S. Internal Revenue Service (IRS) has been raging a battle against Coinbase[1] to obtain the identities of users of convertible virtual currencies (CVCs), like Bitcoin.[2],[3] This battle is being closely watched worldwide, as it touches on hot button issues—privacy of Bitcoin [...]
Professional Spotlight – Eliot Norman at Williams Mullen
Founded in 1909, Williams Mullen has 230 attorneys, a national and international practice and a focus on representing foreign companies in connection with their direct investments in the United States, whether by acquisition (M&A), joint venture or the setting up of a [...]
Scam Targets Taxpayers by Impersonating the FBI and IRS
Equifax, one of the leading consumer credit reporting companies, recently revealed that it fell victim to a cyber attack earlier in the year. Early reports indicate the data breach compromised over 140 million individuals’ confidential information. This was a big one. Stealing [...]
New Regulations Affect U.S. Nonresidents (Including G-4 Visa Holders) with LLCs
Are you a U.S. nonresident? Do you own a U.S. Limited Liability Company (LLC)? Are you the only owner of the LLC? If so, under new IRS regulations, you may have to file Form 5472 annually with the IRS—even if you do [...]
