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 the world’s [...]
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 apply to [...]
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 Tax Return [...]
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 deficits, Greece, [...]
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 Mobility Task [...]
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. citizens and [...]
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 F 90-22.1 [...]
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 primarily international [...]
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 to do, [...]
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. This brings [...]
