Many Renouncing Citizenship Because Of IRS Action On Foreign Assets by Darrin Mish, Tampa Tax Attorney on 5/15/2012 Due to the IRS action of taxing foreign assets owned by US citizens, a number of Americans have decided to relinquish their citizenship to avoid paying taxes. Among the more prominent ones is Eduardo Saverin, co-founder of...more
Expatriation! Why and Why Not!!! by Sanford Millar on 5/14/2012 The headline news that a co-founder of Facebook has given up his U.S. citizenship to avoid income and estate tax may trigger a lot of interest in expatriation. Some people will read the news of the expatriation of Mr. Sevarin...more
Canada-U.S. Cross-Border Bulletin: What You Know About FBARs Can Hurt You by Teia Bui on 4/23/2012 An article concerning the U.S. tax reporting obligations of U.S. citizens resident in Canada, including foreign bank account reporting (FBAR) obligations and the Internal Revenue Service's current Offshore Voluntary...more
EB-5 – A Call to Foreign Investors From U.S. Developers and Business Owners by K&L Gates LLP on 4/4/2012 The EB-5 program, a pathway to U.S. citizenship for foreign investors via the United States Citizenship and Immigration Services’ (“USCIS”) Immigrant Investor Program, has been a vehicle for domestic economic stimulation and...more
United States Supreme Court Raises the Stakes for Tax Disclosure by Green Card Holders and Other Resident Aliens by Venable LLP on 3/27/2012 Tax Amnesty Programs As discussed in a number of previous Tax Alerts, since 2009 the Internal Revenue Service has created three separate tax amnesty programs in order to encourage U.S. taxpayers to properly report and...more
Legislative Update on the state of the EB-5 Immigrant Investor Program by Akerman Senterfitt on 3/6/2012 The EB-5 program has received growing attention in recent weeks. In these days of tight credit, particularly for commercial real estate development, the EB-5 Program provides an attractive alternative to conventional real...more
Financial Services L&E Advisory: 12 Issues to Watch in 2012 by Epstein Becker & Green, P.C. on 2/17/2012 For employers in the financial services industry, 2012 is already shaping up to be a mixed bag. While showing some signs of life, the economy continues to be a primary driver of employment law issues as it struggles to...more
New Report Extols Immigrant Effects on Economy by Ronald Shapiro on 2/1/2012 According to a joint report released by the U.S. Chamber of Commerce and the Immigration Policy Center, immigrant entrepreneurs are creating jobs and strengthening the U.S. economy. The report entitled,...more
Brazil Visas Get Easier to Get After Executive Order Changes Non-Immigrant Visa Application Process: Great News for South Florida... by Rosa Eckstein Schechter on 1/25/2012 President Obama was in Orlando this week, and while many may be waiting for the State of the Union Address, many of us here in South Florida already have Big News from the White House as the President revealed his plan to...more
FBAR Conviction of NJ MD Affect Dual Nationals by Sanford Millar on 1/16/2012 On January 11, 2012 Michael Reiss, a physician from NJ was sentenced for failing to report offshore (Swiss) bank accounts(11:CR:0068),United States District Court SDNY. The sentencing memos of the U.S make some important...more
EB-5 Visas Enhanced to Increase Investments into the United States [Video] by Allen Matkins Leck Gamble Mallory & Natsis... on 1/6/2012 Recent changes by the U.S. Citizenship and Immigration Services (USCIS) help streamline the process for obtaining an EB-5 visa. Now for a fee, you can get your petition decided in 15 days. The normal wait time is a few months...more
El Dinero: A guide to help you manage your finances and assets in the event you are detained or deported by J. Brent Helms on 12/29/2011 Often, only one person is responsible for maintaining the family budget and managing the household’s finances. What if that person is you . . . and you suddenly become detained or deported? What if you leave a child in...more
VISIT USA Act Will Give Foreign Investors in Florida Real Estate a US Visa With $500K+ Purchase by Rosa Eckstein Schechter on 12/14/2011 Florida should become even more alluring to foreign investors and international real estate buyers if the United States Congress passes the proposed “Visa Improvements to Stimulate International Tourism to the United States...more
Are FBAR Settlement Programs Provoking Expatriation? by Sanford Millar on 10/31/2011 Since 2009 the IRS and some state governments have initiated settlement programs designed to encourage taxpayers with offshore financial accounts to come forward with the expectation that by doing so they will avoid criminal...more
U.S. Immigration Investment Opportunities for Foreign Nationals by Snell & Wilmer L.L.P. on 10/28/2011 There are several investment opportunities in the U.S. for foreign nationals who are interested in living in the U.S. either temporarily or permanently. Immediately below is a brief outline of some of those investment...more