The IWTA International Tax Journal
Breaking news, expert advice and opinion on global tax laws and foreign investment strategies.
Beyond Borders: Implications of Recent Court Cases on Foreign Tax Issues
Jack Brister Founder, International Wealth Tax Advisors Jack Brister, Founder of International Wealth Tax Advisors, is a noted international tax expert, with over 25 years of...
Finance
High-Net-Worth Individuals Look to Expand Their Investments
Jack Brister Founder, International Wealth Tax Advisors Jack Brister, Founder of International Wealth Tax Advisors, is a noted international tax expert, with over 25 years of...
Finally- All the Most Frequently Asked Questions About Foreign Trusts in One Place!
Finally- All the Most Frequently Asked Questions About Foreign Trusts in One Place!
BONUS: A Handy Yes/No Calculation Quiz to Determine:
1. IF Your Trust is a Foreign Trust
2. Type of Trust
This blog post introduces International wealth tax advisors’ new FAQ page on Foreign Trusts on the International Welath Tax Asvisors’ website. The page includes a yes/no quiz which calculates which type (if any) foreign trust you are dealing with. If you need foreign trust reporting, management and tax filing help, know that International Wealth Tax Advisors can be your trusted resource!
Navigating the Global Tax Landscape in 2024 – Third Quarter Roundup
Jack Brister Founder, International Wealth Tax Advisors Jack Brister, Founder of International Wealth Tax Advisors, is a noted international tax expert, with over 25 years of...
IRS: Partial Penalty Relief Still Available for 2019 and 2020 Returns, But it Depends…
Amidst the upheaval of the COVID-19 pandemic, some U.S. taxpayers were unable to file their 2019 or 2020 income tax returns within the IRS’ filing deadlines The Internal Revenue Service, in a show of understanding, fully waived penalties for individual taxpayers and businesses who filed certain late returns by September 30, 2022. Although the deadline has recently passed — and the IRS is not extending it — taxpayers who file late 2019 or 2020 returns may nonetheless be eligible for partial penalty relief, according to the IRS. Provisional grace also applies to taxpayers filing certain international information returns, including Form 3520, Annual Return To Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts; Form 3520-A, Annual Information Return of Foreign Trust With a U.S. Owner (Under section 6048(b)). Read more…
IRS New JSEIT Unit Will Use Crowdsourcing, Cooperative Intra-Agency Intelligence and Media Alerts to Quash Emerging Tax Fraud Schemes
Announced in June, the Joint Strategic Emerging Issues Team, or JSEIT, combines expertise from units across the agency, including Criminal Investigation, Tax Exempt/Government Entities, Large Business & International, and Small Business/ Self Employed.
JSEIT’s goal is to act before a tax scheme becomes a widespread issue. Acting as a conduit between taxpayers with compliance issues and the relevant IRS division, JSEIT hopes to provide early communication to prevent abusive fraud. Any transactions that have already been identified as abusive by the IRS will not be in focus.
Jack Brister Featured in Live Event: Estate Planning and Investment Strategies for Multi-Nationals on Oct. 25, 2022
IWTA Founder Jack Brister Featured in Live Event:
Estate Planning and Investment Strategies for Multi-Nationals
New York City, Oct. 25, 2022
Complex Tax and Non-Tax Issues to Be Covered in Depth at Event Produced by European American Chamber of Commerce (EACCNY) on Oct. 25, 2022, 8:30-10:30 a.m. Trust and estate planning and investment strategies for multinationals is a complex topic about which International Wealth Tax Advisors founder Jack Brister has encyclopedic knowledge.
An update on the tax rules and strategies multi-nationals must follow in these areas is the topic of a live event at which IWTA Founder Jack Brister is participating on Tuesday, Oct. 25, 2022. The free event, produced by the European American Chamber of Commerce (EACCNY) takes place from 8:30 to 10:30 a.m. at the New York City headquarters of Offit Kurman.
Frozen: How the Revocation of the U.S. – Russia Tax Treaty Puts Global Trade on Thin Ice
This blog post is an update to IWTA founder Jack Brister’s article published in JD Supra on March 18, 2022, entitled, “Frozen: How the Revocation of the U.S. – Russia Tax Treaty Puts Global Trade on Thin Ice.” The Biden administration is poised to fully block Russia’s ability to pay U.S. bondholders. The Treasury Department told multiple news outlets that it had suspended its tax information exchanges with Russia. Read more…
It Happened in South Dakota
The Pandora Papers, a recent reveal of pervasive cross-border financial crime and elaborately-crafted tax dodging structures, as reported by a global network of investigative journalists, has
already shaken up governments and elections, upended tax authorities and initiated criminal investigations… Perhaps the most intriguing revelation of all from a stateside perspective was the emergence of South Dakota as a preferred tax haven of the rich and famous.
Beyond Borders: Implications of Recent Court Cases on Foreign Tax Issues
Jack Brister Founder, International Wealth Tax Advisors Jack Brister, Founder of International Wealth Tax Advisors, is a noted international tax expert, with over 25 years of experience. Jack specializes in U.S. tax planning and compliance for non-U.S. families with...
Navigating the Global Tax Landscape in 2024 – Third Quarter Roundup
Jack Brister Founder, International Wealth Tax Advisors Jack Brister, Founder of International Wealth Tax Advisors, is a noted international tax expert, with over 25 years of experience. Jack specializes in U.S. tax planning and compliance for non-U.S. families with...
High-Net-Worth Individuals Look to Expand Their Investments
Jack Brister Founder, International Wealth Tax Advisors Jack Brister, Founder of International Wealth Tax Advisors, is a noted international tax expert, with over 25 years of experience. Jack specializes in U.S. tax planning and compliance for non-U.S. families with...
The Impact of the Global Minimum Tax on Corporate Flows
Jack Brister Founder, International Wealth Tax Advisors Jack Brister, Founder of International Wealth Tax Advisors, is a noted international tax expert, with over 25 years of experience. Jack specializes in U.S. tax planning and compliance for non-U.S. families with...
Redefining the 16th Amendment: The Impact of the Mandatory Repatriation Tax on Ultra High Net Worth Clients
Jack Brister Founder, International Wealth Tax Advisors Jack Brister, Founder of International Wealth Tax Advisors, is a noted international tax expert, with over 25 years of experience. Jack specializes in U.S. tax planning and compliance for non-U.S. families with...
Stage three tax cuts: Albanese government must pass this integrity test
Gilti tax So let me be clear: as North Sydney’s representative, I remain of the position that stage three tax cuts should go ahead in 2024 as planned.The government can afford to keep the legislated stage three tax cuts. What it can’t afford is to let...
Joe Biden: Liz Truss tax cuts a ‘mistake’ and ‘I wasn’t the only one’ who thought so
Tax credits for international students Joe Biden has called Liz Truss’s abandoned UK tax cut plan a “mistake” and said he is worried that other nations’ fiscal policies may hurt the US amid “worldwide inflation”.Biden said it was...
Manitoba needs to pick up the pace on tax relief
What is a foreign trust The province should look to its neighbours and other jurisdictions that are providing meaningful relief In the race to help people struggling with inflation, other jurisdictions are off to a running start. Meanwhile, the government of Manitoba...
GRA drags 48 businesses to court …over tax evasion, failure to issue VAT invoices for goods, services
Who needs to file fbar About 48 businesses are currently undergoing prosecution for evading taxes and failing to issue Value Added Tax (VAT) invoices on purchase of goods and services. According to the Commissioner-General of GRA, Rev. AmishaddaiOwusu-Amoah, the...