The Internal Revenue Service (IRS) recently announced new reporting requirements for United States taxpayers with foreign accounts. The change is in part due to the sunset of the offshore voluntary disclosures program (OVDP). Who can benefit from the new program? The...
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Since 1983, our tax firm has skillfully represented individuals and corporations across the United States and around the globe from our offices in New York, New Jersey, California and Florida.
International Tax Law
Partnership tax audit rules: Is your business ready?
The rules regarding how the Internal Revenue Service (IRS) can conduct tax audits of partnerships have changed. It is important for business owners to review the rules and have a basic understanding of the impact on their business. In some cases, business owners may...
Can you avoid huge tax penalties when the OVDP is about to end?
The Internal Revenue Service (IRS) requires taxpayers to report certain foreign assets. This requirement has led to many questions, including what should you do if you have a foreign asset? Can you come into compliance without facing serious penalties? In short yes,...
What you need to know about the Panama & Paradise Papers
Yet another leak has caught the media’s attention. This one primarily focuses on clients of a firm that specialized in aiding the wealthy with asset management. The leak has earned the moniker “The Paradise Papers” due to its connection with offshore accounts in the...
What you need to know about the Panama & Paradise Papers
Yet another leak has caught the media’s attention. This one primarily focuses on clients of a firm that specialized in aiding the wealthy with asset management. The leak has earned the moniker “The Paradise Papers” due to its connection with offshore accounts in the...
Israel’s Highest Court Approves Transfer of Financial Information to United States
As we wrote recently, the Supreme Court of Israel was considering a challenge to the legality of the Foreign Account Tax Compliance Act, or FATCA. FATCA is a U.S. law under which banks and other financial institutions outside the United States are required to report...
Supreme Court of Israel temporarily delays transfer of tax information to United States
The Foreign Account Tax Compliance Act, or FATCA, has major implications for people with dual citizenship in Israel and the United States. Under FATCA, foreign financial institutions are to provide account information for taxpayers holding more than $50,000 in foreign...