News | Accounting Shield


When companies “invert” out of the U.S. tax system, investors often don’t reap big returns

Establishing a tax domicile abroad, also known as a corporate inversion, is a hot strategy in corporate America that has received a good deal of attention in the tax world as well as in the mainstream media. However, a recent Reuters analysis has concluded that, while “inverted” companies generally receive the sought-after tax savings, they often fail to produce above-average returns for inves
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New details emerge on IRS’s streamlined offshore account compliance program

IRS has provided details on which domestic taxpayers are eligible for its streamlined offshore account compliance program as well as the specific steps they must take to come into compliance under the program. Under the streamlined program, formally called the Streamlined Domestic Offshore Procedures, eligible taxpayers pay a 5% miscellaneous offshore penalty and are relieved of otherwise applicab
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