Press Room: US Tax

Letter to the Editor: Taxation is a battle of wills between US and the EU

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The US: President Biden’s MIA

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Biden’s Green Book Proposed Changes to US Foreign Income Tax Regime

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28 Friday, 2020

California Dreaming (or Nightmare?)

It is no secret that California tax rates can be brutal, with the top rate reaching 13.3% on all income (including capital gains), so it is important for individuals to understand the scenarios in which they will become liable to California taxes, and how not to get caught out and inadvertently subject to tax.

18 Tuesday, 2020

Treasury and IRS release long-awaited guidance on carried interest taxation

On July 31, 2020, the Treasury and IRS released proposed regulations regarding Sec. 1061’s carried interest rule, targeting incentive allocations made to fund managers.

7 Friday, 2020

IRS issues guidance on GILTI high-tax exclusion

The Treasury and IRS have issued final regulations allowing taxpayers to exclude certain high-taxed income of a controlled foreign corporation from their global intangible low-taxed income (GILTI) computation on an elective basis.

19 Friday, 2020

IRS announces plan to increase audits of wealthy individuals

The IRS is getting ready to examine hundreds of high net worth individual tax returns, as soon as the current moratorium on investigations expires on 15 July.

14 Sunday, 2020

Pre-move planning for individuals considering moving to the UK

Individuals moving to the UK should have a basic understanding of the UK tax system before they move, and consider pre-arrival planning to optimise their tax and avoid adverse consequences. The issues are especially important for Americans, who remain subject to US taxes and are therefore at risk of double taxation.

11 Thursday, 2020

COVID 19: tax relief provisions for individuals and businesses – highlights of the key items

In response to the COVID-19 pandemic, Congress enacted massive relief packages – The Families First Coronavirus Response Act and the CARES Act – that provide significant tax relief to both individuals and businesses.  Andersen USA have prepared charts that summarise the significant provisions for our clients.

11 Thursday, 2020

Top five UK issues for US taxpayers

In this article we provide an overview of the top five UK tax problems encountered by US citizens, for example with respect to trusts, US businesses, LLCs and UK residential real estate. We then explore some of the most commonly applicable solutions.

8 Friday, 2020

COVID-19 US finally offers relief to individuals and businesses with employees stranded in US

Treasury and IRS issued guidance providing tax relief to both individuals and businesses affected by travel disruptions arising from the COVID-19 pandemic.

8 Friday, 2020

UK/US treaty – demystifying the limitation on benefits article

The LoB test is so complex it is easy to ask the wrong question or take a wrong turn in the maze of its provisions, leading you to the wrong answer.  In this article we seek to guide you through the maze which is the UK/US LoB!

8 Friday, 2020

UK/US tax treaty for individuals – can I use it?

In this article we consider what – at first sight – is a straightforward question, but in reality is fraught with complexity.

8 Friday, 2020

Qualified Small Business Stock – what you need to know

On Wednesday, May 20, Andersen will host a webcast on Qualified Small Business Stock (QSBS). The webcast will cover who is most likely to benefit from the QSBS exclusion, and how shareholders holding QSBS can optimise their potential tax savings.  

13 Monday, 2020

COVID-19 Guide to global tax relief

This guide provides an overview of the response to COVID-19 by each country as it relates to tax relief and other provisions implemented by local governments. This guide includes information as it pertains to specific countries on general measures, corporate income tax measures, tax payments, tax reporting, and VAT in specific countries as provided by the member and collaborating firms of Andersen Global.