IRS issue proposed regulations on new Opportunity Zone tax incentive

The Treasury Department and the Internal Revenue Service today issued proposed regulations and other published guidance for the new Opportunity Zone tax incentive. Opportunity Zones, created by the 2017 Tax Cuts and Jobs Act, were designed to spur investment in distressed communities throughout the country through tax benefits. Under a nomination process completed in June,…

IRS comienza a recibir solicitudes de renovación de ITINs que vencen a fines de 2017

NO PERMITAN QUE SUS REMBOLSOS DE IMPUESTOS SUFRAN RETRASO  WASHINGTON – El Servicio de Impuesto Internos, IRS, ya comenzó a recibir solicitudes de renovación para aquellos Números de Identificación Personal del Contribuyente, ITINs por sus siglas en inglés, programados para expirar a fines de este año. La agencia urge a los contribuyentes afectados por los…

The Real Goal Of Trump’s ‘Merit-Based’ Immigration Plan May Just Be Fewer Immigrants

WASHINGTON ― President Donald Trump claimed in his speech to Congress last week that he could “save countless dollars, raise workers’ wages and help struggling families” with one trick: switching to a “merit-based” immigration system, like Canada’s or Australia’s. He made a similar case several days later in a tweet. First, he promoted Green Card Warrior,…

Can You Opt Out Of Big IRS Offshore Penalties?

Undisclosed foreign accounts or income can trigger significant civil penalties. They can even carry potential criminal penalties. Since 2009, many U.S. persons with foreign accounts and income have come within the IRS’s enormous offshore enforcement efforts. Not everyone has entered the IRS Offshore Voluntary Disclosure Program (OVDP). Still, it can be the safest move, and the only…