Posts tagged "Tax Controversies"

Is FATCA making U.S. citizenship too taxing for some?

Back in November we posted about the fact that entertainer Tina Turner had reportedly signed the paperwork to give up her U.S. Citizenship in favor of staying in Switzerland. The reason given at the time is that she had married her Swiss partner in July, but there was some speculation that the growing burden of Washington's complicated tax rules, played a role, too.

Tina Turner no longer American. What's taxing got to do with it?

Soul singer Tina Turner has voluntarily relinquished her U.S. citizenship. She reportedly signed the papers at the U.S Embassy in Bern, Switzerland, late last month. It probably didn't come as a major surprise. She had announced her plans to do so back in January.

Tax dispute: Michael Jackson's estate tells IRS to beat it

As long as a person has income, the Internal Revenue is likely to have an interest assessing taxes. Interestingly enough, this attitude toward taxation doesn't necessarily end when a person passes away. If an estate has a continued income stream, then it may also be required to pay taxes on those earnings, since it is treated as a legal entity.

Swiss banks reported near deal to supply info on U.S. clients

One of the largest initiatives by the Internal Revenue Service and U.S. Justice Department to enforce tax laws may be about to get a boost. According to recent reports, there are a number of large Swiss banks lining up to cooperate with U.S. efforts in identifying Americans who may hold funds in non-compliant foreign bank accounts.

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