Cloudtax News

I am often asked the question “How does my Kiwisaver fund get treated by the US”. The answer is unfortunately quite complex. The first thing to note about this article is that it contains only one piece of advice which is this “Do not base your financial decisions on an article that you read on the internet. Go talk with a suitably qualified person about your particular facts”.
Problems arising from the roll out of the IRS campaign centred on 3520 and 3520A compliance. Will the campaign do more harm than good? On May 21, 2018, the IRS Large Business & International Division (“LB&I”) announced its fourth set of compliance campaigns.
Today, the Internal Revenue Service notified taxpayers that it will be ending the Offshore Voluntary Disclosure Programme (OVDP) in September 2018. The OVDP is a tax amnesty programme for deliquent taxpayers who were unable to attest tha their failure to file was not due to wilful action. For now, the Streamlined Amnesty remains in place, with the IRS simply noting that it will be removed at some...
You may be aware that from 1 July 2017, there are changes occurring to Australian superannuation. The attached is a link to a guide that provides a good (and understandable) overview of the changes
Inland Revenue is trying to raise awareness of the upcoming changes to information sharing. A series of public anouncements is scheduled for June and July 2017.