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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 from worldwide [...]

By |2020-03-19T15:40:09-04:00January 5th, 2018|

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 date was [...]

By |2020-03-19T15:40:34-04:00December 27th, 2017|

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 each year [...]

By |2020-03-19T15:41:04-04:00December 22nd, 2017|

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. -- As [...]

By |2020-03-19T15:41:12-04:00November 15th, 2017|

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 holder accounts, [...]

By |2020-03-19T15:41:41-04:00September 14th, 2017|

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 U.S. subsidiary. [...]

By |2020-03-19T15:41:56-04:00September 11th, 2017|

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 confidential information [...]

By |2020-03-19T15:42:09-04:00September 11th, 2017|

UK Attorney Mark Summers Weighs In on U.S.-UK Tax Issues

On August 14, 2017, TWG International Tax Director Mishkin Santa interviewed UK advisor Mark Summers on hot topics in U.S.-UK taxation. In the first part of this two-part series, Summers addresses common tax planning considerations. What are some common tax planning strategies for U.S. [...]

By |2020-03-19T15:43:03-04:00September 11th, 2017|
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