The IRS appears intent on the continued crackdown of U.S. persons who have failed to properly report their full worldwide income and foreign financial assets to the U.S. government. Consolidation of Elite Specialists in Foreign Asset and Income Reporting On August 2, the IRS [...]
The Mayweather–McGregor boxing match concluded this past Saturday night with Mayweather winning in the 10th round by TKO. After the fight, USA Today published an article on McGregor’s use of an audit team to track his financial earnings related to the match. Estimates indicate [...]
Aug 8, 2017 Synopsis Last week, the IRS published the names of individuals who had relinquished their U.S. citizenship or their long-term residency status (green cards) over the last quarter. The report showed that Americans are continuing to give up their citizenship at a [...]
June 28, 2017 | Washington, DC The Wolf Group is pleased to announce that the firm is the recipient for the best “Content Marketing – Newsletters” award by the Association for Accounting Marketing (AAM). AAM is the accounting industry’s premier marketing organization. Every year, [...]
President Trump recently published his tax reform outline, “2017 Tax Reform for Economic Growth and American Jobs” – and his outline proposes tax cuts as well as tax simplification. Although the provisions in Trump’s outline is his wish list for tax reform, it is [...]
The Wolf Group is an active member of Nexia, a global network of independent accounting and tax advisors with in over 100 countries. One of the firm’s Nexia partners is dhpg in Germany. With over 500 employees in ten offices, dhpg provides its clients [...]
As the sole United States delegate, Mishkin Santa, a Tax Director with The Wolf Group, represented the firm at the Nexia Asia Pacific Conference in April 2017. International professional services firms from all over the world met at the Conference to network and share [...]
Jigsaw with American flag showing through missing piece With proposed legislative changes on the horizon for the EB-5 investor program, it is critical that investors understand the tax and immigration laws that could impact their investments and the status of their U.S. [...]
Potential Changes to the IRS Offshore Voluntary Disclosure Program (OVDP) U.S. taxpayers who have foreign bank and/or financial accounts should be watching the clock. The window to voluntarily report foreign accounts in order to mitigate IRS penalties may be at the end of 2017. [...]
Rope about to break, a stress concept According to the Treasury Department, the number of Americans renouncing their U.S. citizenship hit an all-time high in 2016. However, before severing ties with the U.S., it is important to evaluate the tax implications, specifically [...]
