IRS announces major changes to offshore voluntary disclosure programme
By Laura Gavioli
The Internal Revenue Service (IRS) has announced sweeping changes to its existing voluntary disclosure programme for unreported offshore accounts, making a number of welcome adjustments to its streamlined procedures for non-residents of the US and expanding these procedures to US taxpayers for the first time.
The details have just been released, but the IRS describes the major changes to the streamlined procedures thusly.
The changes announced make key expansions in the streamlined procedures to accommodate a wider group of US taxpayers who have unreported foreign financial accounts…
Click on the link below to read the rest of the Dentons briefing.
News from Dentons
News from The Lawyer
Briefings from Dentons
‘Inversion’ transactions are nothing new, and the current proceedings appear to be just another replay of earlier games of tag between the government and US multinationals.
In Devon Canada Corporation v The Queen, the issue is whether the taxpayer may deduct $20,884,041 paid to cancel issued stock options.
Analysis from The Lawyer
The continent’s boom in natural resources and renewable energy is sparking an infrastructure drive
Shearman & Sterling is making its presence felt in the City, squaring up to magic circle firms and looking to muscle in on key relationships. Private equity house Bridgepoint is one outfit that has had its head turned by the US firm.