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The latest
News and insights from the private wealth industry
USA
U.S. Largely Ceases Use of Paper Checks
by Global Taxes LLC
Denaturalization could open the door to the U.S. 'Exit Tax'
by Global Taxes LLC
New York Plows on with its own BOI Reporting Requirement
by Alicea Castellanos, CEO of Global Taxes LLC
So the UK tax rules have changed: what does this mean for US people?
Since 6 April 2025, the UK tax rules relating to those who were previously known as “non-doms” have been totally re-written.
In this note, we focus on the impact of the changes for our US-connected clients and outline a few risk areas to keep under review.
To summarise the changes, which took effect from 6 April 2025:
A new four-year special tax regime has been introduced, under which qualifying individuals will be exempt from tax on their foreign income and gai
Court Decision Might Mean Foreign Tax Credits can be used against U.S. tax
U.S. taxes for American citizens living abroad include the Net Investment Income Tax (NIIT), 3.8% to certain net investment income of individuals, estates and trusts that have high income. Foreign tax credits from various specific countries have not usually been widely usable in offsetting NIIT liability.
But the U.S. Court of Federal Claims has decided, in Paul Bruyea v. United States, that foreign tax credits might be used to offset NIIT in U.S. tax treaties with more tha
CTA/BOI Reporting Moves Forward With Delayed Deadlines And Penalties On Hold
Developments continue with the U.S. Corporate Transparency Act and its reporting requirement even as the reporting deadline is extended and
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