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News & Events

Archive by Year:2018

New Tax Rules: Why Are Americans Relinquishing Their Citizenship?

Offshore Account Update

Posted in on September 28, 2018

In the first quarter of 2018, a total of 1,099 U.S. citizens gave up their citizenship. In both 2016 and 2017, more than 5,000 people decided they  no longer wanted to be citizens of the United States. A big part of the reason why so many Americans have decided to give up their citizenship is because they are burdened by complex tax laws that make it difficult for them to live their lives.  

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$380 Million Spent By The IRS Yields Limited Results While Fighting Offshore Tax Dodgers

Offshore Account Update

Posted in on August 31, 2018

The Internal Revenue Service has been trying a number of tactics in recent years to identify U.S. affiliated taxpayers who keep funds offshore in an effort to avoid their responsibilities to pay taxes on income earned.  Because of the aggressive crackdown by the IRS on offshore investments, any Americans with undeclared accounts offshore should consult with a New Jersey international tax attorney in order to obtain help protecting their assets and exploring options to reduce the risk of IRS prosecution.

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Managing Partner Kevin E. Thorn - 5 Things You Should Know From the Paul Manafort Trial

Offshore Account Update

Posted in on August 2, 2018

Managing Partner Kevin E. Thorn was recently asked by a DC news source to comment on former Trump campaign chairman Paul Manafort’s trial taking place in a federal court in Alexandria, Virginia.

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Thinking About Opening an Offshore Account? Here's What You Need to Know

Offshore Account Update

Posted in on July 27, 2018

If you are considering investing any of your funds in an offshore account, you should talk with a New Jersey international tax attorney before you make the decision to open the account. Investing offshore has become much more complicated in recent years thanks to global efforts to fight tax evasion.  While there are still ample reasons to make investments in foreign financial institutions, there is a lot to consider about what obligations you're taking on when you open an account at a foreign bank.

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The Bahamas May Be Losing Its Status as a Premier Offshore Financial Center

Offshore Account Update

Posted in on June 29, 2018

Across the globe, there are certain locations that have favorable banking, finance, and tax laws. Historically, many investors have put their money into financial institutions in these locations. There are a wide variety of motivations for investing in these different jurisdictions, but one of the reasons why people have put their money into these offshore locales is to hide their funds from taxing authorities.

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