With the shutdown entering its fifth week, the U.S. tax industry awaits information relating to recent tax law changes. Concurrently, key events draw closer: the annual IRS efile shutdown, and the commencement of 2026 tax season. Industry awaiting HR1 guidance that is...
The U.S. government shutdown is now into its 16th day, creating confusion and havoc in the U.S. tax community across the globe. The AICPA commented earlier today that fears are growing for the accumulating effects of the shutdown. Last week the AICPA made its second...
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 compulsory superannuation for decades, such as...
The PFIC regime has been in existence since 1986. Introduced in the Tax Reform Act, the regime closed a loophole. Prior to the change, assets could be transferred to entities organized outside the U.S., in order to escape U.S. taxation. As with other foreign...
The jurisdictions of New Zealand and the United States of America have very different tax regimes. However, there is a common theme which we, as tax practitioners experience, year in and year out. That common theme is the complex anti-deferral and anti-avoidance...
