The IRS is introducing a new automatic process that will provide penalty relief to eligible taxpayers without requiring a separate First Time Abate request. This article explains how the Automatic Exemption from Penalty process works, which returns qualify, and what taxpayers should do if a penalty is still assessed.
FBAR and U.S. FATCA are often discussed together, but they are separate reporting regimes with distinct filing requirements, thresholds, and compliance obligations. While both aim to increase transparency around foreign financial assets and offshore accounts connected to U.S. taxpayers, compliance with one does not necessarily satisfy obligations under the other. Understanding the key similarities and differences can help individuals, businesses, and financial institutions avoid reporting gaps and potential penalties.
As businesses increasingly operate across borders and state lines, understanding where tax obligations arise has become more complex than ever. This article explores how foreign and multistate corporations may become subject to U.S. federal income tax, state income tax, and state sales tax, and highlights the nexus and sourcing rules that drive compliance obligations.
The IRS will phase out most paper refund checks for U.S.-based taxpayers starting September 30, 2025, mandating electronic direct deposits. International taxpayers remain eligible for paper checks mailed abroad, avoiding delays from failed U.S. bank transfers.
The U.S. Securities and Exchange Commission recently updated its Enforcement Manual for the first time since 2017, introducing procedural changes designed to promote greater transparency, consistency, and efficiency in enforcement investigations. For companies, fund managers, and advisors navigating securities regulation, the revisions offer important insight into how the SEC approaches investigations, settlements, and cooperation going forward.
The smartest founders don’t start preparing when the term sheet arrives -they build fundraising leverage months in advance by making their company diligence-ready before investors ever ask.
Legal readiness isn’t overhead—it’s the strategic edge that keeps your business investor-ready, risk-proof, and ahead of the game before anyone else knows there’s a clock running.
Tax season brings a complex mix of federal filing deadlines and state compliance obligations that vary by entity and jurisdiction. This guide outlines the key dates for tax year 2026 to help individuals, businesses, and fiduciaries plan ahead and avoid last-minute pressure.
The 2026 FATCA reporting season brings important IRS system updates that Model 2 fund managers and Responsible Officers cannot afford to overlook. This guide outlines key actions to take now – from portal access and encryption keys to recertification and investor documentation – to ensure timely and accurate reporting.
Beginning in 2026, the OBBBA introduces a 1% excise tax on certain cross-border remittance transfers funded by cash and similar instruments. Understanding who is subject to the tax, which transfers qualify for exemptions, and how to adjust remittance practices will be key to minimizing exposure.
The OBBBA modifies the Alternative Minimum Tax by maintaining higher exemption amounts and introducing stricter phaseout thresholds starting in 2026. As a result, more high-income taxpayers may face AMT liability, highlighting the need for strategic planning.
Fund managers entering Model 2 jurisdictions face complex FATCA obligations—from due diligence and onboarding to IRS reporting and re-certification. This guide breaks down key requirements, responsibilities, and deadlines to help funds establish a compliant and efficient FATCA program.
