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- How Does U.S. Law View Offshore Bank Accounts?
Perhaps you are one of the fortunate few who has achieved a level of wealth where you are legitimately concerned that the ebb and flow of the U.S. economy could have a dramatic effect on your personal finances. Or, perhaps, you have heard that there are ways to avoid certain taxes if you keep your money offshore.
- IRS Changing Terms for Offshore Account Holders
by Brown, PC
U.S. taxpayers hiding assets abroad should take note of the Internal Revenue Service’s plan to sharply increase penalties for such acts, while those who unintentionally fail to disclose offshore accounts will experience much more leniency.
- Understanding the PFIC Rules Without Suffering a Migraine
The PFIC regime was not introduced until 1986. Prior to 1986, U.S. taxation of foreign corporations was strictly tied to control of the corporation held by U.S. persons. This allowed not only the foreign mutual fund to avoid U.S. taxation, but also U.S. persons who invested in the fund. How so?
- Offshore Tax Havens and Bank Accounts- Are They Legal?
Following Mitt Romney's run for election and the more recent fall of Cyprus, tax havens have become increasingly scrutinized by the public eye. But are they always illegal?
- Hedge Funds: The Role of Directors in the Life Cycle of a Fund - Cayman Islands
by Murray LLP
The board of directors play a central role in any offshore hedge fund. At every stage of the life cycle of a hedge fund the directors need certain critical information and documents in order to perform their duties. The life cycle can roughly be determined as the fund formation stage, the post launch operation (which might last several years) and then the eventual liquidation.
- Injured Oil Rig Workers File Third-Party Actions
On the heels of 29 deaths from a Virginia coal mine collapse and 11 deaths from the Gulf oil rig explosion comes the question of whether third parties can be held liable in work-related injuries.
- US Taxpayers and the IRS Qualified Intermediary Program
The IRS Qualified Intermediary Program has heightened scrutiny as a result of the federal investigation into the Swiss Bank, UBS (the world's largest private bank). U.S. Prosecutors allege UBS deliberately abused the Qualified Intermediary Program ("QI Program"), selling offshore banking services to U.S. Taxpayers to evade taxes.
- Taxation in Costa Rica
Overview of tax law in Costa Rica.
- Alternative Domain Name Dispute Resolution
The United States Government, in its June 5, 1998 Statement of Policy on the Management of Internet Names and Addresses (the “White Paper”), called for the privatization of the DNS “in a manner that allows for the development of robust competition and that facilitates global participation in the management of Internet names and addresses.”
- The Effect on Natural Resources and Oil Drilling in California From The Lifting of the Ban on Offshore Drilling
This article examines what will be the effect of the lifting of the ban on offshore drilling in California and shows why the “Drill Now” movement is not likely to produce a single extra barrel of oil from new offshore drilling platforms off the coast of California.