The U.S. Internal Revenue Service has begun sending "educational letters" to U.S. taxpayers who have been engaging in "virtual currency transactions" and whom it says either "potentially failed to report income and pay the resulting tax" they were seen to owe on certain of these virtual currency transactions, or failed to "report their transactions properly."
The head of the French Banking Federation has formally warned France's finance minister that he country's banks may be forced to close as many as 40,000 bank accounts by the end of the year, owing to problems these banks have in complying with the U.S. tax information reporting law known as FATCA.
Wealthy Chinese citizens (and others) hoping to invest their way to a U.S. passport will soon need to pay more, as the price for America’s popular immigrant investment visa is set to rise later this year to $US900,000, from its current US$500,000.
Keller Williams, a privately-held, Austin, Texas-based, globally-focused real estate technology franchise business, has announced the awarding of a new "master franchise" to a business in Malaysia, giving it a foothold in the country for the first time.
New York Representative Carolyn Maloney, a Democrat who is co-chair of a Congressional group known as the Americans Abroad Caucus, is planning to re-introduce two bills of interest to Americans abroad, one of which calls for the creation of a "standing commission" that would review all laws that are currently having an adverse impact on Americans resident abroad, and also work to prevent new laws from being enacted that inadvertently harm non-resident Americans.
The U.S. Securities and Exchange Commission today announced a half-million dollar award to someone it described only as "an overseas whistleblower," whose "expeditious reporting" helped it to "bring a successful enforcement action."
A Federal Court in Ottawa on Monday dismissed the latest legal effort by two dual Canadian/U.S. citizens to block Canada’s implementation of the U.S.’s Foreign Account Tax Compliance Act, dealing a blow to thousands of Americans with dual citizenship and consequent tax obligations not just in Canada but, supporters of the plaintiffs argue, around the world.
Last week, National Taxpayer Advocate Nina Olson retired from the role she held for 19 years. During this time, the IRS, of which the National Taxpayer Advocate's office is a...
Aug-08-2019
