Former SEC Chairman David Ruder Discusses the Dodd-Frank Timeline, Volcker Rule & Cost Benefit Rules (Part 2 of 2)
Many companies struggle with how to classify their workers for tax purposes. Are they employees? Or, are they independent contractors?...more
The Internal Revenue Service this week released Announcement 2012-42 (the Announcement), which postpones until 2014 the need for foreign hedge funds and private equity funds to request Foreign Account Tax Compliance Act...more
Legislative Update -
In the BVI, the BVI Business Companies Act has been amended to take into account a number of improvements and enhancements and to address a number of proposals that BVI practitioners had...more
IRS announces certain new time lines for implementation and further interpretive guidance.
On October 24, the Internal Revenue Service (IRS) announced several key revisions to Foreign Account Tax Compliance Act...more
On October 24, 2012, the U.S. Internal Revenue Service (IRS) issued Announcement 2012-42: Timelines for Due Diligence and Other Requirements Under FATCA (Announcement). The Announcement provides that final regulations (Final...more
As we move toward the end of 2012, many non-U.S. financial institutions have been eager for information on how the Foreign Account Tax Compliance Act (FATCA) is going to be implemented. They are the entities which will have...more
Yesterday, in Announcement 2012-42, the Internal Revenue Service (IRS) announced its intention to modify proposed regulations issued in February 2012 by the IRS and Treasury Department that implement a set of statutory rules...more
On March 10, 2010, the IRS determined that medical residents are exempt from FICA taxes based on the student exception, for tax periods ending before April 1, 2005. Although the refunds apply to tax periods ending before...more
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