US Banks on Swiss: RIP

September 2, 2013GIHAdminLeave a Comment

The Buffets and the Gates of the US will be shedding a few tears this week as the United States and Switzerland have reached an agreement that brings the status of the latter as a tax haven for Americans (or will they?). No more hiding their cash away in Swiss banks. No more tax avoidance […]

IRS Research

August 19, 2013GIHAdminLeave a Comment

The IRS is cracking down on small businesses The IRS says it is trying to identify businesses that get “an unusually high portion” of their reported sales through credit card transactions. The thinking is that a lot of cash transactions might be going unreported. To decide who gets letters, the IRS compares a business’s credit […]

FATCA and the End of Banking Secrecy

August 19, 2013GIHAdminLeave a Comment

Cezary Blaszczyk writes: Among the many recent revelations about American surveillance operations was the fact that, according to Der Spiegel, the U.S. intelligence apparatus “not only conducted online surveillance of European citizens, but also appears to have specifically targeted buildings housing European Union institutions,” Few, if any, of those commenting of late on such affairs […]

Global Tax Chaos coming

July 19, 2013GIHAdminLeave a Comment

The OECD has stated in a report commissioned by the G20 that there will be “global tax chaos” in the next few years due to falling tax revenues from multinational companies around the world. Perhaps we could have saved a few thousand dollars by not commissioning the OECD report, since we could have all told them that was going […]