Wealth & Risk Management Blog

William Byrnes (Texas A&M) tax & compliance articles

International Financial Law Blog headlines

Posted by William Byrnes on March 3, 2015


FATF Action on Terrorist Finance

The ISIL phenomenon shows a new type of terrorist organisation with unique funding streams that are crucial to its activities; cutting off this financing is therefore critically important.
Three Swiss bankers face U.S. obstruction charges in tax case and soon extradition

Roger Keller, a onetime client adviser in Zurich at Wegelin & Co, was one of three bankers at the now-defunct Swiss private bank charged in a 2012 indictment in New York federal court for helping U.S. taxpayers hide more than $1.2 billion in assets.
Anti Trust Division 2014 Total in Criminal Fines Collected

The Department of Justice collected $1.861 billion in criminal fines and penalties resulting from Antitrust Division prosecutions in the fiscal year that ended on Sept. 30, 2014. The Department of Justice collected $1.861 billion in criminal fines and penalties resulting…
FinCEN Launches Web page to Assist FBAR Filers

FinCEN has launched a Web page to assist those individuals and institutions required to file a Report of Foreign Bank Account (FBAR).
New Roth 401(k) Rollovers Maximize After-Tax Contribution Value

While the non-Roth after-tax contribution option offered wealthy clients a way to increase their 401(k) account values in the past, it did little to mitigate the current or future tax bite. The increasingly widespread availability of in-plan Roth 401(k) rollovers, however, has changed the retirement income planning landscape, creating new opportunities for higher income clients who wish to truly maximize their 401(k) contributions using after-tax dollars.
How Does HSBC Group CEO Avoid Paying UK Tax ?

Non-dom status can confer several tax advantages on those who claim the status compared with those domiciled in the UK. These include advantages in how inheritance tax is applied, but can also exempt worldwide income earned from outside the UK from incurring UK taxes – a system known as the remittance basis.
SEC to Target Deals Giving Visas to Rich Foreign Investors

Bloomberg reported that — The SEC is preparing sanctions against as many as two dozen immigration lawyers, people familiar with the matter said, for collecting deal fees from foreign investors trying to access the EB-5 visa program, which grants U.S….

85th Country Signs Up For Global FATCA (Automatic Tax Information Exchange)

The Seychelles became the 85th signatory of the Multilateral Convention on Mutual Administrative Assistance in Tax Matters.

Will a New Fiduciary Standard Fix the Advisor-Client Conflict of Interests for Retirement Accounts?

A retiree who receives conflicted advice when rolling over a 401(k) balance to an IRA at retirement will lose an estimated 12 percent of the value of his or her savings if drawn down over 30 years. If a retiree receiving conflicted advice takes withdrawals at the rate possible absent conflicted advice, his or her savings would run out more than 5 years earlier.
Overcoming Sequence of Return Risk in Retirement Income

Sequence of return risk is one of these critical, yet too often overlooked, decumulation-stage issues that can make or break your client’s retirement income withdrawal strategy—luckily, this type of risk can often be diminished by incorporating annuities into the mix, safeguarding the client’s retirement resources in the process.
February FATCA Updates: GIINs and IDES

On 1 February, the IRS published its second 2015 FATCA GIIN list of “approved FFIs” (a list of the financial firms that have registered on the IRS FATCA portal). This is the analysis of that list.
Longevity Pegged Annuities – What CPAs Need to Know About the New Rules

The Treasury Department made sparks fly when it recently issued final regulations governing qualified longevity annuity contracts (QLAC).

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

 
%d bloggers like this: