Final Net Investment Income Tax Regulations: December, 2013 Update

Final regulations were issued December 2, 2013, for the net investment income tax imposed under Section 1411. The final regulations adopt with amendments the proposed regulations that were issued in December 2012. Section 1411 imposes a 3.8 percent tax on certain individuals, estates, and trusts with respect to passive income....

U.S. Government to Use the Treasury Department to Identify Individuals Owning Foreign Assets

At the G8 meeting in Ireland, the White House announced it's intent to facilitate international tax and business arrangement transparency by promising a plan to assist law enforcement and tax authorities in identifying those who own and control entities outside of the United States. We have been reporting on the...