US persons with foreign shareholdings

US persons with foreign shareholdings exceeding 50% of a foreign corporation are advised to consider making a timely application to the IRS for consent to use the foreign corporation’s balance date for reporting purposes. This needs to be done on Form 1128...

Reminder about record keeping

Now that the US tax season is well underway with the first due date (without extension of time for filing) less than three weeks away here is a timely reminder about record keeping. The following guidelines as regards record-keeping dovetail into the statute of...

Six tips to being excellent at anything

In a rare digression away from tax, here is a piece, tips from the Harvard Business Review, printed in the Listener December 2010: Six tips to being excellent at anything: Pursue what you love – do the hardest work first – practise intensely – seek...

US persons reporting foreign financial assets

One of the new additions to the reporting requirements for United States taxpayers with financial assets located outside the United States is a new form 8938. It is currently being developed by IRS and is effective for taxable years beginning on or after January 1,...

US persons with interests in foreign entities

Just a reminder that if you are a US person with interests in any of the following entities: * trusts created outside the US, into which you have transferred assets, or * companies formed outside the US,  of which you are a 10% or greater shareholder, or *...
Subscribe to our newsletter

Subscribe to our newsletter

Receive the latest US and NZ tax news, insights and updates every month.

Your subscription is now active. Look out for our next newsletter.