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3520 and 3520A compliance

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.
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END TO VOLUNTARY DISCLOSURE PROGRAMME

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...
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Changes to Australian Super

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 https://www.moneysmart.gov.au/tools-and-resources/news/superannuation-ch...
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Automatic Exchange of Information by banks to IRD

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. http://www.ird.govt.nz/international/exchange/crs/aeoi-crs/
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Automatic Exchange of Information by banks to IRD

At least once a month I am asked the question “What is the likelihood of the revenue authorities finding out about my XXXX”. My response is always the same “What is the likelihood of them not finding out about your XXXX”. The powers that revenue authorities around the world have, to enquire into your affairs are exceptionally broad (ask those who have been in the cross-hairs of the Inland Revenue...
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