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ACM “Need to Know Seminar” U.S. Passports, renewals, VISAs in Spain
March 7th - Wednesday 19:00 at Sagardoy Abogados (c/Tutor, 24 - Madrid) American Club of Madrid (ACM) NEED TO KNOW SEMINAR. You need to know about the recent changes in the new requirements/options for passport renewal, and the requirements/procedure for reporting...
ACM “Need to Know Seminar” Modelo 720 – Report of Assets Abroad
Date and Time: Thu, February 8, 2018 - 7:00 PM – 8:30 PM Location: Sagardoy Abogados - Calle Tutor, 27 28008 Madrid Report of all assets abroad. This form must be filed by all Spanish residents owning assets abroad. It is required to file this form every year before...
What to expect from the IRS during the government shutdown
The shutdown started nine days before the Jan. 29 scheduled start of tax season, and it is unclear how tax season will be affected. During the last federal government shutdown, in 2013, the IRS continued to process e-filed tax returns and paper returns that contained...
Modelo 720: Este año toca regularizar
Son muchísimas las personas residentes en España, españoles y extranjeros, que se encuentran verdaderamente aterrorizadas porque tenían bienes en el extranjero (cuentas, valores o inmuebles) con valor superior a 50.000€ y no informaron sobre los mismos a la Hacienda...
2018 Tax Filing Season Begins Jan. 29, Tax Returns Due April 17
The Internal Revenue Service has announced that the nation’s tax season will begin Monday, Jan. 29, 2018 and reminded taxpayers claiming certain tax credits that refunds won’t be available before late February. The IRS will begin accepting tax returns on Jan. 29, with...
Bruselas exige a Hacienda que cambie el Modelo 720
Mensaje contundente. La Comisión Europea cree que las multas impuestas por Hacienda a quienes no declaran correctamente sus activos en el extranjero son "desproporcionadas", "discriminatorias" y "están en conflicto con las libertades fundamentales de la UE", por lo...
Common IRS Red Flags
Every year, millions of taxpayers receive correspondence from the IRS after submitting their tax return. Although some notices are sent at random to ensure taxpayer compliance with tax code, many of these letters can be anticipated by the tax professional. One of the...
Final version of Trump’s tax reform bill released
Republicans released the final version of their tax reform package on Friday. The bill aims to overhaul the tax code and ease the tax burden on Americans and businesses. Congress is on pace to have the bill on President Donald Trump’s desk for approval sometime next...
Senate approves the tax cuts suggested by Trump
The U.S. Senate narrowly approved a tax overhaul on Saturday, moving Republicans and President Donald Trump a big step closer to their goal of slashing taxes for businesses and the rich while offering everyday Americans a mixed bag of changes. In what would be the...
Self-Employment Reform’s Law has been published – Autonomos in Spain.
After several months of waiting, the Head of State published last month in the BOE the Law 6/2017, of October 24, of Urgent Reforms of Autonomous Work (self-employment.) Measures that come into force the day after publication in the BOE. 100% bonus for self-employed...
10 Million Taxpayers Face an Estimated Tax Penalty Each Year; Act Now to Reduce or Eliminate It
Have you assessed an estimated tax penalty for tax year 2016? You still have time to reduce or eliminate the penalty for 2017 and future years. To help raise awareness about the growing number of estimated tax penalties, the IRS has launched a new “Pay as You Go, So...
IRS Statement on 2018 Filing Season Start Date
The IRS has not yet announced a date that it will begin accepting individual tax returns for the 2018 tax filing season. At the present time, the IRS is continuing to update its programming and processing systems for 2018. In addition, the IRS continues to closely...
El final del secreto bancario en Andorra dispara las regularizaciones
Los bancos informarán a Hacienda del titular de las cuentas a partir del 2017 La aprobación definitiva la semana pasada por parte del Gobierno de Andorra del final del secreto bancario en el Principado pirenaico ha disparado las regularizaciones fiscales que se...
Six Charts That Help Explain the Republican Tax Plan
The Trump administration on Wednesday released a broad outline of a plan to make major changes to the tax code. Many important details were left for Congress to hash out, including how to pay for the tax cuts and which deductions to eliminate. Some key elements of the...
President Donald Trump’s new tax reform plan would drop corporate rates to 20 percent
Meanwhile, the framework — to be unveiled today — makes major changes to taxes on foreign earnings. President Donald Trump and his Republican allies in Congress will propose an overhaul to the U.S. tax code today that would lower the rate corporations pay and make...
Trump’s tax plan will boost GDP, lift stocks and force a Fed rethink, according to the Royal Bank of Canada
Economists at the Royal Bank of Canada gave an optimistic take on tax reform plans unveiled in the U.S., suggesting in its current form it will boost growth and urge investors to rethink the stock markets. "Acknowledging that some key details are still missing, a good...
Sixty-Four Percent of the Internal Revenue Service’s Information Technology Hardware Infrastructure Is Beyond Its Useful Life
The Sustaining Infrastructure Program manages the replacement of aged information technology hardware infrastructure that provides the foundation for technology services and supports the IRS’s most critical business needs. The management, maintenance, and ongoing...
Exchange of International Information Capabilities Are Underutilized by the IRS
As globalization continues to reduce barriers to cross-border commerce, tax authorities around the world have increased information exchanges with other countries to administer and enforce the tax laws of their respective countries. It is important for the IRS to...
IRS Urges Foreign Financial Institutions Participating in FATCA to Check Their Registrations
IRS officials today reminded foreign financial institutions to renew their Foreign Financial Institution (FFI) agreement if required. These FFIs have until Oct. 24, 2017 to complete their renewal. Those that don’t renew their agreements could be removed from the...
The White House said the current tax code is outdated and harmful to American job-creators
In a statement, the White House said, "The current tax code is a burden on American taxpayers and harmful to American job-creators. It has grown out of control in length and complexity so that many Americans must rely on professional help to file even the simplest...
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