Category: Featured Articles

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The Internal Revenue Service terminated its 2014 Offshore Voluntary Disclosure Program (OVDP) September 28, 2018.

“Taxpayers have had several years to come into compliance with U.S. tax laws under this program,” said Acting IRS Commissioner David Kautter. “All along, we have been clear that we would close the program at the appropriate time, and we have reached that point.”

Since the OVDP’s initial launch in 2009, more than 56,000 taxpayers have used one of the programs to comply voluntarily. All told, those taxpayers paid a total of $11.1 billion in back taxes, interest and penalties. The planned end of the current OVDP also reflected advances in third-party reporting, such as banks located overseas, and increased awareness of U.S. taxpayers of their offshore ta

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Today, September 4, 2018, t he Internal Revenue Service, IRS, provided a notice that Americans have until September 28, 2018, just over 3 weeks, to apply for the Offshore Voluntary Disclosure Program (OVDP). I know there are may Americans that have not come forward under one of the many alternatives
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Living abroad can be very exciting, however maintaining your life and finances can become quite complicated. Our global group can help keep you in check. The basic goals are understanding and organizing your financial situation for people who live abroad, hold green cards, maintain dual citizenship,
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What is a Trust Protector?

Definition of a Protector:  One who serves as the champion; the overseer of the trust. The position of a trust protector is not normally encountered in domestic U.S. trusts, however this is changing, but the position is very common in other common law jurisdictions. Under many foreign trusts, the protector is originally the settlor, which can change later.

What does a Trust Protector do?

To understand this further, keep in mind, the trust protector often has the following powers:

The power to remove and replace any trustees, The power to reject investment decisions of the trustees, and The power to reject distribution decisions of the trustees.

 What is the different between a US Protector v. Foreign Protector?

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