Jersey to consider extension requests from FIs on FATCA reporting
The Treasury and Resources division of the Channel Island of Jersey has recently issued a notice to registered financial institutions offering a consideration of leniency on the approaching FATCA...
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UK Ltd Company: Opening a US Bank Account
Your UK Limited company has ventured out to the Wild West to do business and you quickly find a US bank account is required. The idea of opening a US account seems alluring when you think of the...
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The IRS extends FATCA’s Withholding Requirements
On September 18, 2015 the Department of Treasury and the IRS announced the intent to amend regulations relating to FATCA’s withholding rules to extend the following: The date for when withholding on...
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The United States is now the new Switzerland
The recent trending article by Bloomberg, The World’s New Tax Haven is the United States, has the financial offshore community’s full attention. The Nevada LLC has been the choice entity for foreign...
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You can run but can you still hide?
PLEASE NOTE: For new rules concerning single member foreign owned LLC’s please also read our post New IRS Reporting Requirements Foreign-owned US LLCs. With the passage and implementation of the...
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USTAXFS expands US tax services to Nordics
US Tax & Financial Services is proud to announce we’ve expanded our European presence to include the Nordic region through a collaboration with Swedish-based MAJATTORNEY. “As global administrations...
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IRS Announces End to Offshore Voluntary Disclosure Program
Update: Further to the post below, we have posted an outline of the penalties taxpayers may face after the below September deadline. Yesterday (Wednesday, March 14th, 2018) the IRS announced that it is...
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FATCA: First criminal conviction for failure to comply
We knew it was coming, but this month we now have the first-ever conviction for failing to comply with FATCA. The US government with help from other countries in what reads like an international James...
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‘Heads up’ – FATCA Final Regulations
The US Internal Revenue Service and US Treasury have published what we regard as one of the most important sets of regulations to appear in some time – at least for anyone who happens to be a trustee...
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July Deadline for US Persons with Swiss Bank Accounts
The days of US persons hiding their money in Swiss accounts is coming to a screeching halt. If a foreign bank account (specifically Swiss in this case) had at least $50,000 at any point since 2013 and...
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