FATCA Services and Fee Schedule04/01/2016
The Foreign Account Tax Compliance Act (FATCA) is US legislation that targets US taxpayers who use foreign financial accounts and foreign entities to avoid their US income tax and reporting obligations. The FATCA legislation generally classifies all non-US entities (e.g., private investment companies, trusts, foundations) as either Foreign Financial Institutions (FFIs) or Non-Financial Foreign Entities (NFFEs). An entity’s FATCA obligations vary depending on whether the entity is an FFI or NFFE and the jurisdiction of the entity.
David Sahargun Elected Partner03/23/2016
Grant, Herrmann, Schwartz & Klinger is pleased to announce the election of
David Sahargun to the position of Partner.
“David’s expertise developing sophisticated wealth management structures and advis- ing on U.S. and international tax compliance matters has added another dimension to our already significant private client practice,” said Partner Milton Schwartz. “He will, I am sure, continue to be a great asset to the firm, which is now in its 70th year.”
FINCEN Geographic Targeting Order For Luxury All-Cash Purchases In Manhattan and Miami-Dade03/01/2016
On January 6, 2016, the Director of the United States Department of the Treasury Financial Crimes Enforcement Network ("FinCEN") issued a "Geographic Targeting Order" (the "Order") requiring title insurance companies to report the identity of purchasers using entities to acquire residential real estate in all-cash transactions.
FATCA y el Intercambio de Información Bancaria: Aproveche los Programas de Declaración Voluntaria11/10/2014
Update by David M. Sahargun