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21 Jun '16
U.S. informational reporting requirements for U.S. persons who own shares of a foreign mutual fund or other “commingled fund” are remain unclear. A U.S. person who invests in a foreign mutual fund through a foreign brokerage account is certainly required to report such ownership on their Form TD 90-22.1 (“FBAR”). Reporting requirements for U.S. persons […]
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21 Jun '16
Protocol to U.S.-New Zealand income tax treaty sent to U.S. Senate. The proposed protocol includes updates to rules on limitation of benefits, nondiscrimination, & information exchange.
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21 Jun '16
President Obama clarified his proposed international tax reforms. The President’s proposals would become effective in 2011 and raise a projected $210 million for the Federal government. Highlights include: reformation of the so-called “check-the-box rules” as they apply to foreign entities reformation of the foreign tax credit so foreign income and the foreign tax credit are […]
