Archive | April, 2014

U.S. Income, Estate & Gift Tax 2014

April 30, 2014  |   Posted by :   |   Income Tax   |   0 Comments

Estate & Gift Tax 1. Estate and Gift Tax Exemption increases from $5,250,000 to $5,340,000, tax rate: 40% (excess over $5,340,000) 2. Gift Tax Exclusion: $14,000 per donee 3. Up to $1,090,000 of farm or business realty can receive discount estate valuation 4. Estate Tax Deferral (Installments) If one or more closely-held businesses make up […]

Read More »

IRS Offshore Accounts – Criminal Penalties

April 28, 2014  |   Posted by :   |   Tax Evasion,Unreported Income   |   0 Comments

Criminal Penalties (6 Year Statute of Limitations) 1. Tax Evasion (Willful Evasion of Tax) (lRC Sec. 7201) up to five years in prison Fine: $100,000 (individual) $500,000 (corporation) 2. Obstruct (Impede Tax Collection) (lRC Sec. 7212) up to three years in prison Fine: $5,000 3. Conspiracy to Impede Tax Collection (18 USC 371) separate charges […]

Read More »

Offshore Tax Havens Cost Average Taxpayer $1,259 a year, Small Business $3,923

April 28, 2014  |   Posted by :   |   Tax Evasion,Unreported Income   |   0 Comments

From USPIRG.org April 15, Washington – As hardworking Americans file their taxes today, it’s a good time to be reminded that ordinary taxpayers pick up the tab for special interest loopholes in our tax laws. A new U.S. PIRG report released today revealed that the average American taxpayer in 2013 would have to shoulder an […]

Read More »

Sebi to issue guidelines for FATCA compliance next fiscal

April 04, 2014  |   Posted by :   |   FATCA/FBAR,Tax Evasion   |   0 Comments

With talks underway for an Indo-US agreement to combat possible tax evasion by Americans through Indian entities, Securities and Exchange Board of India (Sebi) plans to issue new guidelines for market intermediaries in this regard next fiscal. The negotiations and discussions between India and the US have commenced for an inter-government agreement (IGA) to be […]

Read More »

EB-5 Investor Visa

April 01, 2014  |   Posted by :   |   EB-5 Visa,International Investors   |   0 Comments

Two recent news articles reflect the growing demand of EB-5 visas among wealthy Chinese. 1. Canada kills investor visa popular with Chinese Canada is killing a decades-old investor program that had allowed scores of wealthy Chinese to move to the country over the years. The program allowed rich foreign investors to apply for permanent residency […]

Read More »