The voluntary disclosures by Swiss taxpayers jumped dramatically in 2017. The most likely reason for the increase is the fact that the Swiss government started to collect information under its numerous Automatic Exchange of Information (“AEOI”) agreements. Let’s analyze in more detail this connection between the Swiss voluntary disclosures and the Swiss AEOI Compliance. Swiss […]
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On January 16, 2018, the International Monetary Fund (“IMF”) released its 2017 Article IV consultation notes with respect to Croatia. Among its recommendations is the introduction of a modern Croatian Real Estate Tax. Croatian Real Estate Tax: IMF assessment of Croatian Economy The IMF began on the positive note stating that, in 2017, Croatia continued […]
Form 8938 is one of the most important US international tax forms with its own sophisticated penalty structure. Hence, taxpayers should strive to understand when they are required to file the form. In this context, I would like to focus in this essay on the Form 8938 Filing Thresholds. General Relevant Criteria in the Determination […]
A government shutdown is always bad for the normal functioning of federal agencies, but the 2018 government shutdown spells disaster for the IRS, especially if it lasts for a significant amount of time. 2018 Government Shutdown Comes at the Worst Time for the IRS What makes the current 2018 government shutdown so bad is the […]
The Specified Domestic Entity Form 8938 filing threshold is likely to be very easily satisfied by the majority of Specified Domestic Entities. With the major tax return filing deadlines just two or three months away (depending on whether an entity is a corporation, a partnership or a trust), every Specified Domestic Entity must assess whether […]