Let’s take a deep dive into foreign trusts

Let’s take a deep dive into foreign trusts

By Gina Gatchell, Director Introduction Trusts are a way of life in N.Z. They are quintessentially used for a variety of purposes. Estate planning, asset protection, and wealth management are common examples. Whilst especially so for high-net-worth individuals and...
Let’s take a deep dive into KiwiSaver

Let’s take a deep dive into KiwiSaver

By Gina Gatchell, Director Introduction Many countries develop and manage their tax policies to influence socio-economic behaviour. N.Z. is one such example. N.Z. has traditionally been slow to prepare its inhabitants for retirement. Other countries have had...

2022 IRS filing season ends

The 2022 filing season finished yesterday, 17 October 2022. Below are some statistics from this year’s filing season. These provide insight into the IRS’ processing of U.S. federal income tax returns through the 2022 season. Data is from the midyear report...

IRS sunsets foreign trust campaign

The IRS has completed its four-year foreign trust campaign. The campaign, launched on May 21, 2018, was one of six campaigns initiated by the Large Business and International (LB & I) units of the IRS. The crackdown on late foreign trust reporting to the IRS was...

AICPA requests expanded IRS Notice 2022-36 penalty relief

The Treasury Department and the IRS recently granted relief from various failure to file penalties imposed under the Internal Revenue Code for the 2019 and 2020 tax years. Notice 2022-36 (Notice) grants automatic penalty relief on late filed 2019- and 2020-income tax...
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