Taxation Law Articles

Articles written by lawyers worldwide
explaining the different aspects of Taxation.

The Basics of Franchise Tax Board Penalties

  February 13, 2018     By HG.org
Tax returns with a franchise could lead to severe consequences when the paperwork contains errors or falsifications for yearly income and other...
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Substantial Misstatements and Franchise Tax Board Penalties

  February 12, 2018     By HG.org
The penalties for mistakes and misstatements in tax documents are costly and may lead to severe consequences for those involved. However, when...

Texas Governor Proposes New Property Tax Reform Measure

  February 9, 2018     By The Posey Law Firm, PC
One of the vexing problems that the Texas Legislature has failed to address is the tendency of property taxes to increase every year, often...

Contemplating Potential Consequences to Changes in the Net Operating Loss Rules

  February 9, 2018     By HG.org
There are current tax rules that permit corporations to carry net operating losses from two previous taxable years and ensure these amounts are...

Two-tiered Profits Tax Rates Regime in Hong Kong

  February 8, 2018     By Masson de Morfontaine
A two-tiered profits tax rates regime was proposed by the Hong Kong Government during the last quarter of 2017 and the relevant Inland Revenue...

How to Factor the Depreciation of Commercial Buildings

  February 7, 2018     By HG.org
Factoring in depreciation of a building that has been purchased for commercial means is important for taxes, the value of assets and if the...

When Are Estate Taxes Due?

  February 7, 2018     By HG.org
When someone dies, someone must take on the tasks of finalizing his or her estate. If the decedent had a will, this individual is the executor...

Natural Disaster Victims and Tax Relief

  February 6, 2018     By HG.org
Natural disasters cause injuries, death and destruction in their wake, and many require the relief of various agencies and the government to...

Effect of Receiving SBA Disaster Loan on Taxes

  January 31, 2018     By HG.org
Small Business Association disaster loans are received when a company or individual suffers through a natural or manmade disaster such as a...

Tax Benefits of Making Charitable Donations

  January 29, 2018     By HG.org
Tax deductions increase when someone makes a charitable donation to various worthy causes, and these affect how much the person pays back to the...

What to Expect from an IRS Tax Audit

  January 25, 2018     By HG.org
When it is apparent there is the need for the Internal Revenue Service to become involved in the interactions with a company or an individual,...

Case Studies on How New Tax Law May Impact Different Families

  January 25, 2018     By HG.org
Various experts tasked with studying the new tax laws determined that there are different impacts on families based on certain factors for each....

Foreign Investors Face Tax Consequences in the U.S.

  January 25, 2018     By HG.org
When an investor from another country is working with the United States, he or she may face consequences with taxation based on what process he...

Impact of New Tax Law on Professional Sports Teams

  January 24, 2018     By HG.org
Tax deductions and the new tax law affect professional sports teams and the athletes that play or belong to each team. While the impact could...

Bank Secrecy Act and Tax Implications in the U.S.

  January 22, 2018     By HG.org
Reporting large cash transactions with a financial institution and verification of a customer’s or client’s identity are both required to deter,...

Sales Tax Surge to Help Texas to Keep Its Books in Balance

  January 22, 2018     By The Posey Law Firm, PC
Keeping the books of the state of Texas balanced can be something of a challenge. The past session of the Texas Legislature balanced the 2018-19...

Contemplated Changes in Corporate Tax Law

  January 17, 2018     By HG.org
Corporate tax laws change how the business is structured, how assets are financed and what occurs with the owner and other clients. These...

Potential Impact of New Tax Law on Law Firm Partners

  January 17, 2018     By HG.org
Tax laws change constantly, and the effect may extend as wide as to law firms, partners and clients depending on the circumstances and the...

Can I Deduct Ransomware Payments on My Taxes?

  January 15, 2018     By HG.org
Many individuals suffer from online attacks where a scam artist or illegal entity takes over the computer demanding money to release the...

How the Foreign Investment in Real Property Tax Act Can Affect California Real Estate Investments

  January 11, 2018     By Bona Law PC
California offers a vast array of opportunities for real estate investors from around the world. In the San Diego area, for example, investors...

Federal Income Tax Considerations Involving Crowdfunding

  January 10, 2018     By HG.org
Crowdfunding is an increasingly important way of gathering funds for business and personal projects that afford the individual to create a...

China Withholding Tax Deferral Policy for Foreign Direct Reinvestment

  January 10, 2018     By Masson de Morfontaine
Dividends derived from China by a foreign investor are currently subject to China Enterprise Income Tax in the form of Withholding Tax at 10%....

What Is Repatriation Tax for Multi-Nationals?

  January 5, 2018     By HG.org
Taxation for multinationals may come through a foreign income tax of United States based corporations for these persons and companies with...

Another Year, Another Change: Tax Law in Romania

  January 5, 2018     By Hammond, Minciu and Associates
The year 2017 was one when many changes were proposed by the Government, but these changes were not always implemented. Some important changes...

Tax Whistleblower Statute

  January 2, 2018     By HG.org
Whistleblowers exist within many different departments of the federal government, and this includes the Internal Revenue Service which is...

How Will My SBA Disaster Loan Affect My Taxes?

  December 29, 2017     By HG.org
Someone requires a Small Business Administration loan with low-interest for disasters such as the California wildfires and floods in Louisiana...

Reduce Your Taxes before the End of the Year

  December 22, 2017     By HG.org
Prudent taxpayers can reduce their tax burden or increase their tax refund by taking some last-minute steps before the end of the calendar year.

Tax Ramifications for Separated Spouses

  December 14, 2017     By HG.org
When spouses have legally separated, it is important to ensure that the taxes are filed appropriately for each individual or as a couple if one...

New FAR Regulations on Tax Delinquencies and Felony Convictions

  December 8, 2017     By HG.org
Federal Acquisition Regulation are necessary when contracting a business with the federal government, but if there are tax delinquencies, the...

What Is a 1031 Exchange in Tax Law?

  December 7, 2017     By HG.org
A 1031 exchange per the Internal Revenue Service is a tax law that permits an investor to carry over any capital gains accrued from real estate...

What are My Options if I Can’t Afford to Pay My Taxes?

  December 6, 2017     By HG.org
Paying taxes is difficult for individuals that work as independent contractors, freelancing and when they own a small business. However, there...

Reduce Your Taxes before the End of the Year

  December 6, 2017     By HG.org
Prudent taxpayers can reduce their tax burden or increase their tax refund by taking some last-minute steps before the end of the calendar year.

How to Win a Tax Lawsuit in Hungary . . . Easily, Quickly and Simply

  December 1, 2017     By Jalsovszky Law Firm
Winning a tax lawsuit is a difficult and lengthy process, and often there are no guarantees of victory even when you’re totally confident that...

Certain Changes to China Withholding Tax Obligations for Non-Residents

  December 1, 2017     By Masson de Morfontaine
Passive incomes such as dividends, interests, royalties, capital gains derived from China by a non-Chinese tax resident enterprise (“NRE”) are...

Tax Benefits of Using an LLC in Real Estate Transactions

  November 30, 2017     By HG.org
Real estate transactions are often complicated when attempting to avoid taxation, and using a limited liability company could assist the owner...

Deducting Real Estate Losses against Other Income When Preparing Taxes

  November 29, 2017     By HG.org
Reducing and eliminating additional fees, expenses and taxes is important when someone owns property, has invested in real estate and is...

IRS Issues Extended Tax Deadlines for Disaster Victims

  By HG.org
When disaster strikes, the federal government and certain agencies take notice and attempt to make these issues better in some manner for those...

Section 1031 and How It Can Help Avoid Capital Gains Tax

  By HG.org
Capital gains taxes are one way to trap money into an investment which requires special processes to free the capital without penalties issued...

High Net Worth Individual Scheme for Permanent Residency in Malta

Malta offers a wide range of schemes and programmes to those individuals opting to establish their permanent residence in its jurisdiction. The...

What Benefits Is My Same-Sex Spouse or Domestic Partner Entitled to?

  By HG.org
Due to a number of important Supreme Court decisions in the 21st century, married same-sex spouses are entitled to a number of benefits that...

What are my Options to Repay Unpaid Sales Tax Debt?

  By HG.org
Unpaid taxes are potentially dangerous to the individual or company. It is imperative that one of several options is taken to ensure this tax...

OVDP Willful or Streamlined Non-Willful: IRS Offshore Disclosure Basics

In determining whether you should enter the traditional Offshore Voluntary Disclosure Program (OVDP) or the newly implemented IRS Streamlined...

FBAR vs. 8938: Reporting Foreign Accounts & Foreign Financial Assets

Ever since the Internal Revenue Service made foreign account and asset reporting a key enforcement priority, two of the most common issues a...

Primer on Protecting Americans from Tax Hikes Act

  By HG.org
The Protecting Americans from Tax Hikes Act or PATH was implemented to assist individuals and exempt organizations from Internal Revenue Service...

IRS Tax Amnesty Programs: Offshore Income vs. Domestic (U.S.) Income

The IRS Tax Amnesty Programs are designed to help individuals and others safely get into tax compliance without the fear of excessively high...

Expatriation Tax when Returning to Your Home Country

  By HG.org
When returning home from living or residing in another country, there are additional taxes that may apply to the person called the expatriation...

When Does a Tax Lawsuit Begin in Hungary? New tactics Will Be Needed in Tax Lawsuits from January

New laws taking effect on 1 January next year will transform the tax audit procedure and the way tax lawsuits unfold. While some of the...

The Fiscal System in the UAE

  By Eptalex
Following the issuance of the UAE VAT law at the end of August 2017, and the simultaneous launch of the UAE Federal Tax Authority (FTA) website,...

What Is Power of Attorney? How to Prepare a Power of Attorney in UAE

There can be a lot of use for a Power of Attorney, and it is especially handy when it comes to having someone else do tasks for you when you are...

Double Taxation Avoidance Treaties in Albania

Albania has entered into 38 agreements “For the Avoidance of Double Taxation with respect to Taxes on Income and on Capital” with several...

Appealing a Tax Assessment

  By HG.org
When facing a tax assessment for real estate issues, it is important to start with research first and then hire an experienced tax lawyer. This...

Tips for Avoiding FBAR Penalties

When it comes to reporting and disclosing foreign accounts assets, income, life insurance policies, pension funds, retirement funds and more,...

Offshore Voluntary Disclosure Program (OVDP) - Understanding the Basics

The IRS Offshore Voluntary Disclosure Program (OVDP) is a U.S. Government program designed to bring non-compliant individuals, businesses, and...

State Aid Control Over Tax Rulings of EU Member States

The European Commission's State aid control over tax rulings has been widely commented on, particularly following the decision on Apple and...

New IRS Regulations on Reporting Obligations of Foreign Financial Assets by Domestic Entities

  By HG.org
Individuals are obligated to report all data about foreign financial assets and property under the Hiring Incentives to Restore Employment Act...

Corporations in Costa Rica: Get to Know the Percentages for the Payment of Taxes Defined by Law

The new law 9428 that establishes the new taxes on corporations is already into force. This law defines the tax amounts that the corporations...

Off-Shore Accounts: The Panama Fiasco

The disclosure of 11.5 million documents held in strict confidence by a Panama law firm displays once again how vulnerable holders of off-shore...

To Give Up or Not Give Up a U.S. Citizenship for Tax Purposes? That Is the Question

Many U.S. citizens or green card holders, seeking to avoid the long and heavy arm of Uncle Sam, visit their tax attorney and the first sentence...

Pre-Immigration Tax Planning for Moving to the U.S.

A person who is neither a United States citizen nor resident can take certain actions that significantly impact the exposure to U.S. tax....

Extent that a Financial Institution Can Outsource Anti-Money Laundering (AML) Compliance

  By HG.org
Anti-money laundering compliance is very important to banks and financial institutions per the United States government. Without adherence to...

Proposed Dark Store Legislation in Wisconsin Puts a Thumb on the Scale of Fairness

Max Baucus once said that “Tax complexity itself is a kind of a tax.” That statement is true in many ways.

Submit a Voluntary Declaration Leading to Immunity for Tax Evasion While You Still Can in Germany

A voluntary declaration leading to immunity for tax evasion needs to be tailored to the exact circumstances of a given case. Only then can...

U.S. Tax Court Ruling Limits Foreign Earned Income Exclusion

Many US citizens and residents living overseas take advantage of up to approximately $100,000 a year in foreign earned income exclusion...

U.S. Tax Court Resolves Long-Outstanding Tax Issue: Is the U.S. Tax Citizen Living Abroad Subject to Capital Gains?

For decades it has been unclear whether a U.S. citizen or green card holder ("U.S. Person") who resides abroad and who sells stock for a gain is...

Cyprus as a Jurisdiction for Holding Assets and Investments

Cyprus provides an established, stable and solid legislative framework under which Cyprus companies can be formed for intermediary or ultimate...

U.S. Tax System: FATCA. FBAR. PFIC. Trump, Give Us a Break!!

Few are the examples where the multi-level complexity of the U.S. tax system can be seen as is the case with the regulation and taxation...

Advanced U.S. Estate and Tax Issues for Non-U.S. Persons

The U.S. estate tax and U.S. gift tax are similar but not identical taxes. The estate tax is a tax on what a person owns at death (the estate)....

U.S. Tax Court Monumental Ruling Will Impact Foreigners with U.S. Businesses or Investments

A precedent-setting ruling recently issued by the U.S. Tax Court changes the way foreigners are taxed in the United States. The ruling states...

US Passport can be Revoked Because of Tax Debt

  By HG.org
There are certain regulations and stipulations to the Internal Revenue Service with laws in the United States that may restrict travel or the...

France Investors’ Program: The New Competitive Stream Among EU States

France is becoming more competitive both immigration and business wise. On November 15th, 2016, we announced you that the French Investor...

Grounds for Refusing to Provide Information at the Request of the Fiscal Body in Ukraine

If the text of the request of the fiscal body on information proving does not contain the grounds for such request according Cl. 73.3 Art. 73 of...

Personal Income Tax in Colorado

  By HG.org
Each state has different income tax procedures and amounts based on what has been implemented by the state legislation. In Colorado, the income...

Colorado Consumer Tax Law

  By HG.org
Taxes are collected by states on retail for items that are sold in shops and establishments. This may be similar to levied taxes on cigarettes...

Criminal Tax Evasion in Colorado

  By HG.org
Tax evasion charges in Colorado have significant consequences. Individuals may face an intense investigation and uncertainty when being...

Malta Gaming Authority Publishes White Paper on Major Reforms to the Malta Gaming Legal Framework

The Malta Gaming Authority (“MGA”) has published a white paper requesting industry feedback in connection with a far-reaching overhaul of...

Chinese Free-Trade Zones further Ease Access for Foreign Investors

The Chinese State Council has updated foreign investment negative list applicable to all 11 free-trade zones (FTZs). These special zones offer...

India Switches to Goods and Services Tax (GST)

At the stroke of midnight on 1st July 2017, India along with its states and Union Territories, with the exception of one, ushered in the Goods...

Collecting a Second Passport

More high-net-worth individuals acquire second passports; collectors take note.

Falsification of Taxes and Real Estate Projects

  By HG.org
Preparation of tax returns that are false or contain inconsistencies may lead to criminal charges. Real estate projects may be harmed from the...

Voluntary Declaration for Tax Evasion Still Possible in Germany

While the number of voluntary declarations for tax evasion is declining, voluntary disclosure remains possible and is the only way of avoiding...

Start-Ups in Switzerland: Do's and Don'ts from a Tax Point of View

The founders of a start-up company will inevitably be confronted, sooner or later, with tax questions. The situation which gives rise to such...

Misrepresentation of Tax Procedures and Complications for Real Estate Dealings

  By HG.org
Real estate dealings often require exact documentation that specifies certain terms, conditions and details about the buyer, seller and...

Colorado Probate and Estate Tax Laws

  By HG.org
When someone passes away, it is important that the matter is settled quickly and easily so that the family and other dependents are given time...

Investing in Real Estate Overseas

Insights on how to combine Real Estate & Citizenship

Making Timely Arrangements for Business Succession in Germany

The demographic trend poses a serious challenge to medium-sized businesses, particularly in relation to the unavoidable issue of making...

Myths and Realities of Panamanian Corporations

Some have come across diverse and perhaps incompatible information on the legal framework regarding the creation of corporations and private...

Panama as an Added Value to SEM Companies: A Reflection 10 Years Later

Ten years have elapsed since the enactment of Law 41 of 2007, whereby the Special System for the establishment and operation of Multinational...

Tax Professionals Report More Audits as Stricter IRS Deadlines Approach

  By Brown, PC
The tax code is incredibly complicated and intricate. Even when a business or an individual intends to be in compliance with tax requirements,...

Overview of the New Taxation Regime to Be Implemented in the UAE

It has been estimated that the introduction of a value-added tax (VAT) in the UAE will generate Dh12 billion of additional revenues.

ESOP (Employee Share Ownership Programme): The Latest Craze in Hungary

ESOP (Employee Share Ownership Programme) entities have been springing up like mushrooms in Hungary since last year, and the acronym itself has...

Harder Times Ahead for Participants to Cartels in Hungary

It is becoming a practice that companies involved in cartels are being sued by market players who have suffered losses as a consequence of a...

VAT and Selective Tax in Saudi Arabia

Recently, some questions and discussions have been raised on the Saudi street as well as through the audio and visual media on the decision of...

U.S. District Court Upholds Multiple Willful FBAR Penalties Against Taxpayer

  By Brown, PC
In a case that has raised eyebrows in the tax community, a jury in the Southern District of Florida has sustained the IRS's assessment of...

IRS Assesses Another 150% Civil FBAR Penalty

  By Brown, PC
The IRS has asserted multiple maximum civil FBAR penalties against Ashvin Desai, who failed to disclose the existence of offshore accounts or...

Most Common Legal Aspects Affecting Ex-Patriate Workers in Colombia

Foreign companies establish their presence in Colombia, and most of the times the first thing they do is, send a trusted directive to oversee...

Taxation of Chain Transactions in Hungary: Exactly What it Seems

One of the most frequent areas of dispute between the tax authority and taxpayers relates to the conditions under which a taxable entity...

Purchasing Real Estate in Germany

Unlike in other countries, such as Denmark and Switzerland, there are no restrictions to foreigners to purchase real estate in Germany....

Tax Dodgers Under Pressure – Way Out of Tax Evasion Is Through Voluntary Disclosure in Germany

While the number of voluntary declarations for tax evasion is easing off, the same cannot be said of the efforts being put into the fight...

Tax Evasion: Only Voluntary Disclosure Affords Protection from Severe Penalties in Germany

Anyone who has been caught for tax evasion should expect to be faced with severe penalties. Voluntary disclosure is the only way of returning to...

Can My Student Loan Be Discharged if I Become Disabled?

  By HG.org
When someone has become disabled through injury, illness or other means, it is possible that student loans may be discharged completely.


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