In Aroeste v. United States, the U.S. District Court of the Southern District of California held Mr. Aroeste is not liable for the penalties for alleged violation of the Report of Foreign Bank and Financial Accounts (FBAR) because he was a US Nonresident as determined by Article 4 of the United States-Mexico Tax Income Treaty (the Treaty) and therefore, was not required to file FBAR.

Basswood Counsel Co-Founder Christopher Klug shared insights on corporate and business tax implications in the post-election landscape during his presentation at the Global Chamber Baltimore/Washington (BWI) Advisory Board Fall Meeting on November 13, 2024.

Titled “Election Aftermath: Tax Implications Impacting the Bottom Line for Corporate America and Business Owners,” his presentation explored anticipated tax policy changes under the new administration and their potential effects on businesses.

CFOs and General Counsel of multinational corporations (non-U.S. parent) with operations in the United States face complex tax implications that must be planned for on a global basis and not make decisions solely based on the U.S. tax implications. Too often, the U.S. advisor will ignore the tax …

CFOs and General Counsel at U.S. multinational corporations are confronted with complex international tax that requires comprehensive global tax planning to reduce the global effective tax rate. Without a comprehensive strategy that considers not only the tax implications of the country where …