JD Supra1d
The Potential Tax Impact of Foreign Investments
A common strategy many wealth management firms recommend is ensuring that as much as 30% of your portfolio includes foreign ...
Taxpayers With Missed IRS Form 3520 Filings Face Tough Decisions
If a taxpayer misses the filing deadline, the IRS may impose significant penalties (up to 25% of the amount of the foreign ...
Budget 2025 wish list: 'Relax income tax return-filing timelines for residents with foreign income'
While most countries, such as the US, UK, Australia, Canada, the Netherlands and Germany follow the calendar year (January to ...
JD Supra1d
New Jersey Tax Court Rules Undistributed Foreign Earnings of CFC Are Not Taxable Dividends
A recent decision by the New Jersey Tax Court held that while taxpayers were required to report undistributed income from “deemed ...
40% Transfer Tax: IRS Final Say On Foreign Gifts, Bequests From ‘Covered Expatriates’
U.S. recipients from former U.S. citizens or long-term residents ("covered expatriates"). IRS finalized the regulations.
Tax Guru7d
Do Taxpayers Need to Refile for Foreign Income?
Payments received in INR may nevertheless be classified as foreign income depending on: The location of the source or client. The nature of the transaction. Accurate classification in the tax return ...