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Archivo categoría About Tax International
Bye bye to the paper check
Por international - About Tax International, International Tax, International tax blog, United States - 14 abril 2011
Thousands of American citizens will get tax refunds instead of a paper check on a prepaid card as the government looks to give people without bank accounts an easier way to get their money.
The letters will give the option of activating a MyAccountCard Visa Prepaid Debit Card, on which their 2010 federal tax refund would be direct deposited.
The Treasury Department saying it will mail letters to 600,000 low- and middle-income taxpayers next week launched the pilot program Thursday.
“This pilot program will provide low- and moderate-income Americans with a low-cost option for faster delivery of their federal tax refund,” said Deputy Secretary of the Treasury Neal Wolin.
“This innovative card can be used for everyday financial transactions, such as receiving wages by direct deposit, withdrawing cash, making purchases, paying bills, and building savings safely and conveniently, giving users more control over their financial futures,” said Wolin.
Once they open a prepaid debit card, taxpayers can reload it with their own money and use it for everyday transactions without opening a traditional bank account.
Different versions of the prepaid card will be issued — each with different features, marketing messages and fee structures — during the pilot to monitor their effectiveness before the cards are rolled out as a permanent part of the tax filing process.
.Treasury said more than 1.7 million U.S. workers use payroll cards to receive wages. Treasury will also offer tens of thousands of payroll-card the opportunity to direct deposit their 2010 refund onto existing payroll cards.
The Visa card will be issued by Utah-based Bonneville Bank, and the Treasury will work with prepaid financial services company Green Dot Corp. during the pilot.
FInance regulation
Por Business - About Tax International, Belgium, Blog, General, International Tax, International tax blog - 12 abril 2011
Dodd Frank Act in its Title IV related to Investment Funds and Adviser Registration covers a vast array of financial activity from retail to institutional with domestic and extra-territorial consequences and makes major changes to the registration of private fund managers and eliminates the availability of the registration exemptions by foreign hedge funds and private equity funds.
The old exemption from registration for advisers with fewer than 15 US investors is eliminated as of July 21, 2011 and is replaced by new exemptions that are limited and therefore not terribly useful.
Consequences of this are to file a SEC registration to passport across the US and avoid the tremendous burden to undertake a review of the securities law on a state by state basis.
Advisers’ registration with the SEC implies the filing of Form ADV to disclose detailed information regarding the adviser’s business.
Registered advisers will face many obligations including compliance procedures, code of ethics, conflicts of interest disclosure, compliance officer designation, extensive books and records maintenance requirements…
Registered investment advisers will be required also to report once a year through the filing of Form PF thus providing significant amounts of detail regarding the private funds they advise – compliance date for filing may be as earlier as 12/15/2011.
Although seemingly in contradiction with Dodd Frank, Foreign Account Tax Compliance Act, FATCA is an over-reaching peace of legislation on tax avoidance that will trigger all financial intermediaries to enter agreement with US tax authorities and enforce tax information reporting and withholding for US persons investing via/in non-US entities.
Investments funds and Collective Investment Schemes are in the scope; therefore mutual/hedge/private equity/FoFs/ETF/managed accounts are all concerned by FATCA with some exclusion that would need to be reviewed and monitored on an ongoing base.
Custody, fund administration, private banking and transfer agency functions are all impacted by FATCA and it is therefore paramount to understand the different duties of FATCA and how they will need to be address on the value chain of your organisation.
Braxton has financial regulation expertise in cross-border provision of asset management services and is able to offer help on the consequences of these provisions to non-US investment advisers and all financial intermediaries and fund structures.
Wealth or asset protection services
Por Braxton7 - About Tax International - 26 julio 2010
Does Tax International provide wealth or asset protection services?
No, our sister company, Braxton Asset Protection does. Braxton Asset Protection offers a straightforward personal service designed to protect all our clients from the effect of tax, political instability, bad investment, extravagant children and divorce. At the Braxton Group level, we provide specialist legal advice on the whole spectrum of private client issues to a range of clients which includes both those who have inherited wealth and those who have made it themselves.
Our strengths are international legal advice and Braxton can arrange a team of experienced and qualified international asset protection adviser that suits your needs. Our aim is to provide you with the peace of mind that your wealth, profession and investments are properly protected against regulation changes (learn more on regulation here) whilst able to take advantage of the best tax opportunities available.
Throughout our working lives, many of us concentrate on acquiring assets, without giving enough thought to how this acquired wealth can best be kept for our enjoyment in later life, and, finally, how it can be passed on to the next generation.
The threat to your assets may come from taxation, litigation, creditors, claimant, business failure, family or matrimonial problems, miserable annuity rates destroying your pension fund, or some other problem. Whichever is the case, our experience and technical expertise in this area will help you defend your assets from erosion and allow you to look confidently to the future.
Which is the history of Tax International?
Por admin - About Tax International - 18 mayo 2009
Which is the history of Tax International?
Established over 15 years ago, the practice comprises lawyers, accountants and tax advisors, all of whom have a passion for international taxation and take a genuine interest in helping international clients achieve their goals.
The central idea was to create a genuine and specialized international tax firm.
You can see more information about the history of Tax International at:
How can Tax International help us
Por admin - About Tax International - 16 octubre 2007
Everything sounds good, but our company is different. How can you help us?
Every business is different, yet the same. Every business has some common issues, like culture, products or services, sales, people, finances and… taxes. We will quickly learn the particular nuances of your business & industry but best international tax business practice is common to all.