Tax compliance | Wallace, Plese + Dreher

Future of Taxes and Multinational Corporations

Written June 8, 2021 by Barbara Dillon

Categories: Compliance, Corporate tax, Foreign Financial Accounting, Foreign financial reporting, Foreign tax, International, Tax planning

Countries around the globe are trying to stem the “rush to the bottom,” which has multinational companies moving their corporate headquarters to lower their tax bills. According to the International Monetary Fund, the result of this tax strategy is a loss of worldwide government revenues estimated between $500 and $600 billion annually.

FATCA Basics and Form 8938

Written November 19, 2020 by Barbara Dillon

Categories: Compliance, FATCA, Foreign Account Tax Compliance Act, Foreign assets, Foreign Financial Accounting, Foreign financial reporting, International, Tax, Tax planning

Americans with certain foreign financial assets have special tax reporting responsibilities. The Foreign Account Tax Compliance Act (FATCA) requires foreign financial institutions and certain other nonfinancial foreign entities report on the foreign assets held by their U.S. account holders or be subject to withholding on relevant payments.

Tag: Tax compliance