Congress passes American Taxpayer Relief Act and averts most tax elements of the fiscal cliff *

USA - January 4 2013
On January 2, 2013, President Obama signed into law via the autopen, the American Taxpayer Relief Act of 2012 (H.R. 8) (the "Act"), legislation that…

Co-authors: Joseph M. Doloboff, Joseph T. Gulant, Daniel R. Blickman, Cory G. Jacobs, Megan A. Christensen.

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FATCA update: Treasury Department extends due diligence deadlines and announces it is engaging with more than 50 countries to crack down on offshore tax evasion *

USA - November 21 2012
In Announcement 2012-42, the U.S. Treasury Department announced that due diligence deadlines under the Foreign Account Tax Compliance Act (FATCA) are being extended in light of voluminous comments received in response to proposed regulations issued in February 2012.

Co-authors: Matthew D. Lee, Jeffrey M. Rosenfeld.

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FBAR reminder: U.S. taxpayers must report foreign bank accounts by June 29, 2012 *

USA - June 18 2012
The annual deadline for filing Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (commonly known as the “FBAR” form) is fast approaching. Any U.S. taxpayer with a financial interest in, or signature or other authority over, a foreign financial account (which includes bank, security and other types of financial accounts) is required to file the FBAR form if the aggregate value of the account (or accounts) exceeds $10,000 at any time during the 2011 calendar year, subject to certain exceptions.

Co-authors: Joseph T. Gulant, Matthew D. Lee.

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New York City tenants: beware of the NYC commercial rent tax *

USA - March 8 2012
Too often we hear stories of New York City ("NYC") tenants not realizing they are obligated to pay the NYC Commercial Rent Tax (the "Commercial Rent Tax" or the "Tax").

Co-authors: Samuel M. Walker.

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Prepare for round 3: IRS reopens Offshore Voluntary Disclosure Program *

USA - January 11 2012
On January 9, the Internal Revenue Service (“IRS”) reopened its Offshore Voluntary Disclosure Program (“OVDP”) for U.S.

Co-authors: Matthew D. Lee.

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