Everand Logo

Welcome to Everand!

  • Discover millions of ebooks, audiobooks, and so much more with a free trial

    From $11.99/month after trial. Cancel anytime.

    International Wealth Tax Advisors’ Best of 2020, 2021 and 2022 Blog Posts and Published Articles
    International Wealth Tax Advisors’ Best of 2020, 2021 and 2022 Blog Posts and Published Articles
    International Wealth Tax Advisors’ Best of 2020, 2021 and 2022 Blog Posts and Published Articles
    Ebook108 pages1 hour

    International Wealth Tax Advisors’ Best of 2020, 2021 and 2022 Blog Posts and Published Articles

    By Jack Brister

    ()

    Read preview

    About this ebook

    Best of 2020, 2021 and 2022 Blog Posts and Published Articles: All Roads Lead to Tax Transparency

    Transparency is one of the most controversial topics in international tax. On one hand, transparency is necessary for functioning tax systems – taxpayers must be transparent with revenue authorities about their financial accounts, while revenue authorities must be transparent about how and why they obtain taxpayer data and how they make decisions.

    On the other hand, taxpayers and revenue authorities often clash over just how much transparency tax systems should have. In 2020, 2021, and 2022 some of the largest issues in international tax centered around revenue authorities' ongoing quest to obtain more taxpayer information in several realms. They range from new financial products like cryptocurrency, to more traditional activities like disclosure of foreign bank accounts and foreign real estate.

    In the following e-book compilation of International Wealth Tax Advisors' most read articles from 2020 through 2022, readers will see transparency-related issues appear in nearly every article.This is rather significant, considering that the compilation touches on a diverse array of international tax issues.

    The following articles discuss topics like the proper tax treatment of cryptocurrency and taxpayers' disclosure obligations; disclosure obligations for foreign trusts, and cross-border financial secrecy and money laundering. The articles also discuss the Internal Revenue Service's ongoing scrutiny of foreign nationals and entities that hold U.S. real estate, as well as updates on U.S. tax law and legislation, including updates to the global intangible low-taxed income provision, and the implications of the Biden administration's $1 trillion infrastructure bill.

    The diversity of these articles underscores the complexity that taxpayers must navigate in a growing international tax world. They also indicate that taxpayers are hungry for real-time education and updates so they do not run afoul of revenue authorities. This e-book anthology is one way to start that education.
    Jack R. Brister, EA, MBA, TEP Managing Member and Founder, International Wealth Tax Advisors

    LanguageEnglish
    PublisherJack Brister EA, MBA, TEP
    Release dateMar 7, 2023
    ISBN9798215138557
    International Wealth Tax Advisors’ Best of 2020, 2021 and 2022 Blog Posts and Published Articles

    Related to International Wealth Tax Advisors’ Best of 2020, 2021 and 2022 Blog Posts and Published Articles

    Related ebooks

    Accounting & Bookkeeping For You

    View More
    View More

    Related podcast episodes

    Related articles

    • UNLIMITED

      Potential Pitfalls of Government Digital Currencies

      Oct 14, 2022

      Federal Reserve Chair Jerome Powell participated by video in a panel on digital currency hosted by the Banque de France on Sept. 27. In his remarks he said, “The good news, I suppose, is that the interaction – from a financial stability standpoint –

      3 min read

    • UNLIMITED

      Got Crypto? The IRS Really Wants to Know

      Sep 26, 2022

      The 2022 crypto price crash understandably has some investors concerned. But for those of you who haven’t run for the hills, it’s worth knowing that cryptocurrency currently has the attention of not only the Biden administration, and Congress, but th

      4 min read

    • UNLIMITED

      Whatever Happened to Peer-to-Peer Lending?

      Mar 4, 2022

      Even before Uber upended the taxi business and Airbnb disrupted vacation rentals, the idea of peer-to-peer lending was meant to give individuals alternatives to traditional consumer sources of credit, both as borrowers and investors. But the fintech

      5 min read

    • UNLIMITED

      How To Buy Bitcoin (BTC)

      May 19, 2022

      How To Buy Bitcoin (BTC)
      4 min read

    • UNLIMITED

      The Second Renaissance Of Finance

      Oct 18, 2019

      for much of the last five centuries, the core functions of banks have changed little. Their primary role as financial intermediary between a saver who deposits money and a borrower who receives a loan has remained. This exchange facility lowered tran

      3 min read

    • UNLIMITED

      Reasons Why Cryptocurrency Makes Business Sense

      Jan 21, 2021

      Bitcoin was the world’s first widely adopted cryptocurrency, designed to allow people to directly send money to anyone, anywhere. This type of transaction is known as “peer-to-peer”. In other words, Bitcoin allows you to pay Alice or Bob directly, n

      4 min read

    • UNLIMITED

      Should I Invest in Bitcoin or Other Cryptocurrency?

      Sep 14, 2022

      About 145 million American adults say that they own or have owned cryptocurrency. Statistically, that’s more than half of your co-workers, neighbors and friends. It’s also about the number of Americans who own stocks. Even though it’s not regulated b

      6 min read

    • UNLIMITED

      The Crypto Conundrum

      May 27, 2022

      The Crypto Conundrum
      9 min read

    • UNLIMITED

      Technology Reshapes The World

      Feb 29, 2024

      The fintech ecosystem encompasses a diverse range of start-ups and established companies, and collaborations between the financial and technological sectors. Regulatory support, coupled with a tech-savvy population, has created an environment conduci

      2 min read

    • UNLIMITED

      Read-Write-Own-Tax

      Jul 1, 2024

      Read-Write-Own-Tax
      8 min read

    • UNLIMITED

      A Crypto Cheat Sheet

      Mar 26, 2021

      A Crypto Cheat Sheet
      3 min read

    • UNLIMITED

      Benefits of Britcoin

      Mar 7, 2024

      Benefits of Britcoin
      6 min read

    • UNLIMITED

      Is There a Right Way to Invest in Bitcoin in 2022? Yes.

      Jan 19, 2022

      You’ve read stories about celebrities, like Elon Musk and Mark Cuban, who supposedly are cashing in on Bitcoin. You’ve seen ads for companies that claim to offer a “safe and easy way” to buy it. You probably even know a few people who have dabbled in

      4 min read

    • UNLIMITED

      The White House Touts A Digital Dollar: What Does That Mean?

      Sep 20, 2022

      Disruption. It's coming for the U.S. dollar in the form of digital currency. Last week the Biden administration detailed a broad plan for adopting a central bank digital currency (CBDC) in the coming years. The Departments of Energy, Commerce, the Tr

      2 min read

    • UNLIMITED

      Goodbye, Dear Readers, And Take Care

      Nov 15, 2023

      I have been writing about finance for 45 years – and am reminding myself how much has changed in that time. When I began in 1978, credit cards and cash machines had arrived only a decade before. Until 1971, just before decimalisation, you paid two ol

      2 min read

    • UNLIMITED

      Bitcoin Stokes Fear and Greed – but It’s Just Tip of a Finance Revolution

      Oct 31, 2017

      Often called a digital currency, bitcoin is now behaving more as a ‘store of value’ with a surging price tag. Its bubble could burst, but the technology behind it promises to transform personal and business finance.

      4 min read

    Related categories

    Reviews for International Wealth Tax Advisors’ Best of 2020, 2021 and 2022 Blog Posts and Published Articles

    0 ratings

    0 ratings0 reviews

    What did you think?

    Tap to rate

    Review must be at least 10 words

      Book preview

      International Wealth Tax Advisors’ Best of 2020, 2021 and 2022 Blog Posts and Published Articles - Jack Brister

      Best of 2020, 2021 and 2022 Blog Posts and Published Articles

      All Roads Lead to Tax Transparency

      Transparency is one of the most controversial topics in international tax. On one hand, transparency is necessary for functioning tax systems – taxpayers must be transparent with revenue authorities about their financial accounts, while revenue authorities must be transparent about how and why they obtain taxpayer data and how they make decisions. On the other hand, taxpayers and revenue authorities often clash over just how much transparency tax systems should have. In 2020, 2021, and 2022 some of the largest issues in international tax centered around revenue authorities’ ongoing quest to obtain more taxpayer information in several realms. They range from new financial products like cryptocurrency, to more traditional activities like disclosure of foreign bank accounts and foreign real estate.

      In the following e-book compilation of International Wealth Tax Advisors’ most read articles from 2020 through 2022, readers will see transparency-related issues appear in nearly every article.This is rather significant, considering that the compilation touches on a diverse array of international tax issues.The following articles discuss topics like the proper tax treatment of cryptocurrency and taxpayers’ disclosure obligations; disclosure obligations for foreign trusts, and cross-border financial secrecy and money laundering. The articles also discuss the Internal Revenue Service’s ongoing scrutiny of foreign nationals and entities that hold U.S. real estate, as well as updates on U.S. tax law and legislation, including updates to the global intangible low-taxed income provision, and the implications of the Biden administration’s $1 trillion infrastructure bill.

      The diversity of these articles underscores the complexity that taxpayers must navigate in a growing international tax world. They also indicate that taxpayers are hungry for real-time education and updates so they do not run afoul of revenue authorities. This e-book anthology is one way to start that education.

      FINALLY- ALL THE MOST FREQUENTLY ASKED QUESTIONS ABOUT FOREIGN TRUSTS IN ONE PLACE!

      Jul 14, 2020

      Finally- All the Most Frequently Asked Questions About Foreign Trusts in One Place!

      BONUS: A Handy Yes/No Calculation Quiz to Determine:

      If Your Trust is a Foreign Trust

      Type of Trust

      You asked, we answered. Click here to be a Foreign Trust know-it-all.

      Foreign Trust tax reporting, tax management and filing of the infamous Form 3520 is all in a day’s work for a qualified international tax advisory and accountancy. For clients and financial professionals who are not so familiar with the international tax world, it is far from routine. Foreign Trusts are one of the most asked about and misunderstood financial instruments. Questions abound in determining category, following legal compliance and fulfilling tax responsibilities.

      We sympathize.

      So, instead of paying for a lengthy and costly consultation by a legal or cross-border tax professional just to learn the basics, or scouring the Internet for bits and pieces of information, we thought we’d cut you some slack and give you the whole enchilada. Well, at least a healthy-sized serving.

      We looked through our client history, researched search engine queries and combed online forums to come up with the top ten frequently asked questions on foreign trusts.

      They are….(drumroll, please):

      Who should file IRS Form 3520?

      What is a foreign trust?

      Are trust distributions taxable to the beneficiary?

      Do trust beneficiaries of a foreign trust pay taxes?

      What is a foreign grantor trust owner statement?

      Is a gift from a foreign person taxable?

      How to create an international trust?

      Is a TFSA considered a foreign Trust?

      What is the Schedule B compliance requirement for foreign accounts and trusts?

      What is the U.S. taxation of foreign trusts?

      And as an added courtesy, our office math whizzes came up with a simple-to-use tool in the form of a very short yes/no quiz to determine, in less than a minute, if the instrument you are dealing with is a Foreign Trust or U.S. Trust, and the specific type. The type of trust will determine the nature of you/your beneficiaries’ tax filing requirements. How’s that for one-stop Q & A shopping?

      Click here to read the answers to the IWTA Foreign Trust Top Ten FAQs and try our 30-second determination tool

      .

      If you or your clients need help with the next steps of Foreign Trust reporting, management and tax filing, contact us and we’ll be glad to be of service.

      We’d love to hear your feedback and comments! Email us at [email protected] or [email protected]

      In 2020 Cryptocurrency is No Longer a Bit Player

      Oct 27, 2020

      The Inevitability of Cryptocurrency in Mainstream Finance

      The Financial Crimes Enforcement Network, aka FinCEN, a unit within the United States Treasury Department, has seen no downtime during the pandemic. Tasked with investigating and combatting a whole host of financial crimes, including money laundering and the funding of terrorism, the suspicious reports roll in. Dirty money flows into the nation’s and the world’s largest banks, and despite employee whistleblowers, the majority of it goes through the legitimizing rinse cycle and gets washed squeaky clean. Given the current set of U.S. laws, as long as the bank-in-question files a suspicious activity alert, they have effectively inoculated themselves against prosecution

      So, what does international financial crime have to do with cryptocurrency?

      Cryptocurrency is built on the blockchain.Skipping the complexities for a moment, here are two key takeaways for an instrument created by blockchain technology: 1) It is impenetrable to hackers and fraudsters and 2) It is 100% traceable. For a thorough education on blockchain read Investopedia’s Guide to Blockchain.

      While Bitcoin got a bad rap in its early days as being associated with dark web activities, the truth is it is much easier to track activities on public block chains, while private banking activities remain largely hidden from scrutiny. According to the United Nations, 90% of money laundering goes undetected.

      Forbes’ recent interview with Chanpeng Zhao, Founder & CEO of Binance, largest cryptocurrency exchange in the world by volume, is highly informative in explaining the business of Bitcoin and the blockchain.

      Is Crypto the New Gold?

      Financial analysts have been reporting a gold buying frenzy as the result of current global economic uncertainty.This is no surprise and has plenty of historic precedence, but what is surprising is that the current run on cryptocurrency mirrors the 2020 gold trading chart to an eerie degree.

      In a Bloomberg article dated May 7, 2020 and entitled Paul Tudor Jones Buys Bitcoin as a Hedge Against Inflation, Bloomberg reports Jones telling clients that Bitcoin today is playing the role that gold played in the 1970’s. Says Jones: I am not a hard-money nor a crypto nut.The most compelling argument for owning Bitcoin is the coming digitization of currency everywhere, accelerated by Covid-19.

      The Fed Plays Chess: The First Move to Reframe Cryptocurrency from Commodity to Real Currency

      In an announcement devoid of fanfare, on July 22, 2020, the Office

      Enjoying the preview?
      Page 1 of 1