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Ireland Alerts

Payroll Changes Affecting Companies that Operate in Ireland

Effective January 1, 2019, employers must report payroll information to Revenue in “real-time.” This means that employers must report payroll information each time their employees are paid, rather than at year-end, which is the current system. 
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China Alerts

China Individual Income Tax Alert

Chinese officials recently announced amendments to the Individual Income Tax (IIT) law, signifying the first major modifications since 2011. The changes are intended to boost economic growth and will affect the taxation of both local employees and mobile employees that are on assignment in China. Full implementation of the changes will occur on January 1, 2019. However, the new tax tables and standard basic monthly deduction went into effect on October 1, 2018. We highlight key changes relating to personal income taxation below:
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Offshore Voluntary Disclosure Program

Offshore Voluntary Disclosure Program Closing

As originally highlighted in our March 2018 newsletter the Offshore Voluntary Disclosure Program (OVDP) will be closing effective September 28, 2018. All OVDP submissions must be postmarked on or before this date to qualify for the program. This IRS article Closing the 2014 Offshore Voluntary Disclosure Program Frequently Asked Questions and Answers provides an excellent review of the closure and highlights the decline in the number of taxpayers taking advantage of the program.
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Brazil Alerts

Brazil / US Social Security Totalization Agreement

Tax Alert - August 29, 2018 It was recently announced that the Social Security Totalization Agreement (SSTA) between the US and Brazil will finally come into effect on October 1, 2018. It is estimated that approximately 1.3 million Brazilians and 35,000 Americans will benefit from this agreement.
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Tax Cuts and Jobs Act

Paycheck Withholding Checkup

The Tax Cuts and Jobs Act, passed in December 2017, made significant changes to the US tax law, which will impact your 2018 US federal tax return. The tax law changes include:
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Tax Scams

IRS Alert on Tax Scams

The IRS has recently published an article regarding a sophisticated phone scam targeting individual taxpayers and employers. As the article notes, the callers claim to be IRS employees, using fake names and IRS identification badge numbers. They also may already know a lot about their targets, and they usually alter the caller ID to make it look like the IRS is calling. 
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Tax Scams

Information to Keep You Up-to-Date on Recent IRS Initiatives

Please note that the Internal Revenue Service (IRS) is planning to begin private collection of certain overdue federal tax debts starting in April 2017.
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Tax Scams

IRS Warns Again on Payroll Scam as Tax Season Begins

Be on the lookout for an email scam focusing on payroll records. The Internal Revenue Service (IRS) has been made aware that another email scam is making its way across company payroll and human resource departments which uses a corporate officer's name to request employee Forms W-2.
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