The U.S. government’s long-standing efforts to address illegal, domestic financial activity is being addressed with a new beneficial ownership reporting requirement. As of January 1, 2024, any person or entity with state-side entities, (such as and including...
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...
New Zealand’s Inland Revenue advised tax agents on Tuesday that New Zealand income tax returns due for filing before 31 March 2022 may be filed by 31 May 2022. The income year that this filing date affects is individual income tax returns for the year ended 31...
Inland Revenue recently expanded its guidance on claiming foreign tax credits for overseas tax paid. Interpretation Statement IS 21/09 Foreign tax credits – how to claim a foreign credit was issued on 22 December 2021 and sets out how to claim a foreign tax credit on...
It has been widely publicized that the price of Bitcoin and other cryptos have taken a dive in what has been coined (excuse the pun) a crypto winter. This comes on the coattails of an all-time peak in late 2021. The value of Bitcoin soared last year and in November...
Following on from the January 2018 measures introduced under the Fixing America’s Surface Transportation (FAST) Act, the IRS released Notice IR-2019-23 on Wednesday, 27 February 2019. The latest notice is a fresh warning to taxpayers with overdue debt. They are...
By Gina Gatchell, Director. Auckland spent a total of 107 days in the latest, and reportedly last lockdown during the Delta outbreak the city has been embroiled in. The country’s Alert level system -which has now been sunsetted – saw the city at a virtual...
By Gina Gatchell, Director. Auckland’s delta outbreak has worsened over recent days. The city has now been in lockdown for more than two months, with community cases of delta on the rise. Many COVID-19 cases have emerged in areas of Auckland that are already...
By Gina Gatchell, Director. The IRS announced over the weekend that taxpayers filing jointly will be allowed to claim up to US $600 in donations to qualified US charitable organizations on their 2021 US return. This is up from the current level of US $300 available to...
By Gina Gatchell, Director. The Middlemore Foundation assists vulnerable families in New Zealand who are immensely impacted by the COVID-19 pandemic. The current Level 4 Alert status in Auckland has only worsened the living conditions for these families. Many families...
