Written by Arturo Meza, Foreign Associate at CK Tax Services However, according to experts, this exchange has not been reciprocal since FATCA came into effect, so European countries do not receive similar information from US banks about European taxpayers. The Foreign Account Tax Compliance Act (FATCA), enacted in 2010 by Congress, requires foreign financial institutions […]
Tag: Tax Cuts and Jobs Act
IRS Proposed Limits to Certain Gift’s Preferential Treatment Under the Tax Cuts and Jobs Act
written by Arturo Meza, Foreign Associate at CK Tax Services LLC Background The US federal government levies three types of taxes on transfers of wealth: an estate tax on the value of assets transferred to other individuals when a person dies; a gift tax on the value of gifts that a person gives to others […]