The Tax Exchange - December 2016
The end of the year brings holidays, reunions with friends and family and, of course, deadlines associated with the twin global reporting regimes of Foreign Account Tax Compliance Act (FATCA) and common reporting standards (CRS).
It should be easy to know where you live, but for state personal income tax purposes, the question becomes “where are you domiciled?”
Tax-exempt investors deploy a considerable amount of capital to real estate funds as a way to diversify their portfolios. In many cases, income from real estate investments is not altogether free from tax for these investors, despite their tax-exempt status.
Employees working on international assignment raise significant tax planning complexities for both the globally mobile employees and their employers. One especially complex topic is the treatment of employees’ foreign pension plans.
Tax reform is expected to be a top legislative priority when the Trump administration takes the reigns in January. Repatriation of foreign earnings, whether as a part of comprehensive business tax reform or as a stand-alone issue, seems nearly inevitable.