Corporate Transparency Act & Beneficial Ownership Information Reporting Rule

Starting on January 1, 2024, the US Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) will require the reporting of beneficial ownership information (“BOI”) under the Corporate Transparency Act (the “CTA”) for many domestic and foreign legal entities, including corporations, limited liability companies, partnerships, and any entity whose legal existence requires application or registration. Domestic legal […]

Penalty Limits & Non Willfully Fail to File FBARs

File FBARs with your returns? The latest determination from the Supreme Court put a limit on the penalties for taxpayers with foreign accounts who non-willlfully failed to file their FBARs. In the article below, written by Sarah Constantine Jonathan E. Green Cara M. Koss James P. Joseph Rebecca L. D. Gordon and Alex S. Tepler, […]

Early-Stage Start-Ups and NYS Investment Funds

If you are the owner of an early stage start-up, or considering up a start-up in New York, then the article below provided by attorney  Gisella Levi Caroti, of Herzfeld-Rubin may be of some interest to you: New York State Offers Matching Investment Funds for Qualified Early-Stage Start-Ups On January 5, 2023, New York Governor […]

Implications of State Transactions & Nexus

One of the main goals for a taxpayer is to increase his revenue. Two of the main areas, for a business to achieve this, are to expand its customer base into various states and to provide customer service. This could mean that the taxpayer might perform various kinds of transactions to expand the business’ influence […]

Which country has the highest tax rate?

In which countries do high earners pay the most tax? And where do average earners pay the most? Income tax has been a political hot potato for decades. In 1966 The Beatles released their song Taxman as a protest against the 95% “supertax” rate introduced by Harold Wilson’s Labour government, which the band had to […]

Fisco: Saccomanni e ambasciatore USA Phillips firmano accordo per scambio automatico di informazioni

E’ stato firmato oggi dal Ministro dell’Economia e delle Finanze, Fabrizio Saccomanni, e dall’ambasciatore Usa in Italia, John R. Phillips, l’accordo tra Italia e Stati Uniti per applicare la normativa del Foreign Account Tax Compliance Act (Fatca) e migliorare la tax compliance internazionale. L’accordo bilaterale riflette nei contenuti il Modello di accordo intergovernativo (definito a […]