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Draft foreign asset form released by the IRS on 8 June 2011

Flag on January 7th, 2011

Companies paying for a tax return service for their US assignees are likely to see a rise in professional fees as the IRS have released a new draft form that will soon be mandatory for tens of thousands of US citizens and green card holders. Who will be affected? The HIRE Act signed in 2010 […]

CELIA welcomes specialist US Tax member

Flag on January 4th, 2011

The Alliance is delighted to announce that niche consultancy firm US Tax and Financial Services (known as “US Tax”), are to join the Alliance with immediate effect. As the name suggests US Tax specialise in US tax return compliance and consultancy for corporations, partnerships, individuals, trusts and estates.  Headquartered in London close to the City, […]

IRS targets non-compliant US ex-pats as the clock for voluntary disclosure ticks down

Flag on January 4th, 2011

US ex-pats need to get a move on to take advantage of the “last best chance” for voluntary disclosure which closes in August 2011.  Working as an ex-pat has its benefits and also brings its challenges.  Today this is particularly true for US citizens living abroad with respect to their tax compliance and reporting obligations […]

USA: New US/Belgian agreement clarifies double taxation of pensions

Flag on January 12th, 2010

Welcome clarification of ‘qualified pension plans’ attracting relief from double taxation. The US and Belgium have signed an agreement on avoidance of double taxation of pension plans.  The agreement, which clarifies the plans benefiting from the treaty provision, was published in the Belgian Official Gazette in August. Article 17 of their treaty, which deals specifically […]

USA: IRS issues guidance on new exit tax

Flag on January 10th, 2009

The US Internal Revenue Services (IRS) has issued guidance on the new exit tax that applies to individuals subject to US expatriation on or after 17 June 2008. Expatriation is a term used to refer to individuals who have given up their US citizenship and long term residents who cease to be a permanent resident […]

USA: US company gives shareholders a vote on pay

Flag on January 5th, 2008

The Financial Times (“FT”) have reported that Aflac has become the first US based company to give its shareholders a vote on the pay of its CEO and other top management team members by way of a vote at the company’s AGM on 5 May.  This follows a week in which the CEO of U.S. […]