Government Agencies are spending money to track down Virtual Currency
Government Agencies are spending money to track down Virtual Currency was published by JD Supra on 11/27/18. Government agencies apparently believe that expertise from blockchain analytic firms is required to assist with investigating illicit activities such as tax evasion, money laundering, terrorist financing, and drug markets. According to a Report released by Diar – a company that analyzes […]
2018 is almost over and still no guidance from IRS on the treatment of Virtual Currency
2018 is almost over and still no guidance from IRS on the treatment of Virtual Currency was published by JD Supra on 11/21/18. On September 19, 2018, the House Ways and Means Committee wrote a letter to the IRS urging the IRS to “issue updated guidance, providing additional clarity for Taxpayers seeking to better understand and […]
Understanding Estate and Gift Taxes
Understanding Estate and Gift Taxes was published by JD Supra on 11/21/18. Although only .2% of US Taxpayers actually pay Estate Taxes (Congress’s Joint Committee on Taxation), it is important to understand how Estate Tax works in conjunction with gifting. Taxpayers work hard to create wealth. Its transfer is an important concept. What is the Federal […]
Foreign Trusts and the IRS
Foreign Trusts and the IRS was published by JD Supra on 11/21/18. A Foreign Trust can be a legitimate instrument for US Taxpayers that may have family members in foreign jurisdictions, have foreign business interests or are the beneficiaries of trusts created in other countries. Trusts are vehicles that can assist in the preservation of wealth […]
Los titulares de Moneda Virtual (MV) NECESITAN MANTENER REGISTROS
Los titulares de Moneda Virtual (MV) NECESITAN MANTENER REGISTROS was published by JD Supra on 11/14/18. La Sección 6001 del Código de Rentas Internas requiere que los Contribuyentes mantengan libros y registros adecuados. Mantener libros adecuados y buenos registros de la MV ayudará al Contribuyente a: Monitorear el progreso en su inversión de la MV […]
Virtual Currency (VC) Holders NEED to KEEP RECORDS
Virtual Currency (VC) Holders NEED to KEEP RECORDS was published by JD Supra on 11/14/18. Internal Revenue Code Section 6001 requires Taxpayers to maintain adequate books and records. Keeping adequate VC books and good records will assist a Taxpayer to: Monitor the progress of a VC investment ⦁ Prepare financial statements ⦁ Identify profits […]
¡Los Estados Unidos y Costa Rica tienen un Nuevo Acuerdo de Intercambio de Información Fiscal!
¡Los Estados Unidos y Costa Rica tienen un Nuevo Acuerdo de Intercambio de Información Fiscal! was published by JD Supra on 11/14/18. El 20 de abril del 2018, los Gobiernos de Costa Rica y los Estados Unidos firmaron una nueva versión de su ACUERDO ENTRE EL GOBIERNO DE LOS ESTADOS UNIDOS DE AMÉRICA Y EL GOBIERNO […]
The US and Costa Rica have a New Tax Information Sharing Agreement!
The US and Costa Rica have a New Tax Information Sharing Agreement! was published by JD Supra on 11/14/18. On April 20, 2018, the Governments of Costa Rica and the U.S.A. signed a new version of their AGREEMENT BETWEEN THE GOVERNMENT OF THE UNITED STATES OF AMERICA AND THE GOVERNMENT OF THE REPUBLIC OF COSTA RICA […]
¿Vale la pena el riesgo de la Moneda Virtual?
¿Vale la pena el riesgo de la Moneda Virtual? was published by JD Supra on 11/6/18. Hemos leído que la Moneda Virtual (MV) es un “activo especulativo” que, en determinadas circunstancias, puede utilizarse para pagar bienes o servicios o ser retenido para inversiones; y que su intercambio o uso de intercambio de venta tiene consecuencias fiscales […]
Is Virtual Currency worth the Risk?
Is Virtual Currency worth the Risk? was published by JD Supra on 11/6/18. We have read that Virtual Currency (VC) is a “speculative asset” that under certain circumstances may be used to pay for goods or services or be held for investment; and that its sale, exchange or use has tax consequences that may result in […]
Banquero Irá a la Cárcel por FATCA
Banquero Irá a la Cárcel por FATCA published by JD Supra on 11/2/18. El 11 de Noviembre del 2018, el Departamento de Justicia de los EE. UU. (“DOJ”) informó que el banquero Adrian Baron, el ex Director de Negocios y ex Director Ejecutivo de Loyal Bank Ltd, un banco “off-shore” con oficinas en Budapest, Hungría y […]
Banker will go to jail over FATCA
Banker will go to jail over FATCA was published by JD Supra on 11/2/18. On September 11, 2018, the US Department of Justice (DOJ) reported that banker Adrian Baron, the former Chief Business Officer and former Chief Executive Officer of Loyal Bank Ltd, an off-shore bank with offices in Budapest, Hungary and Saint Vincent and the […]
