IRS Addresses Secondary Market For Life Insurance Author: Morrison & Foerster LLP
The secondary market for life insurance has been growing rapidly, and of course the government wants its piece of the new industry.
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Ten Things To Know Before You Sign That Contract Author: Frederic R. Abramson, P.C.
Like them or not, Contracts are an unavoidable part of doing business. One thing is for certain, though, you will like contracts a lot less if you are unfamiliar with how they work, or how to ensure that they protect you.
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In Tough Times, Take Stock of Your Mental Health Author: Nellie Day
We’ve all been glued to our newspapers, computers and TV sets reading about the latest updates on the economy, our investments and, ultimately, our fates. News reports are riddled with foreboding phrases like “no end in sight,” “it’ll get worse before it gets better,” “the good times are over” and so on. Naturally, the current state of the economy has many people worried.
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Prosper Returns to Peer-to-Peer Lending Marketplace...And Then Exits Again Author: Allison Landa
After a six-month quiet period, the website Prosper has returned to the peer-to-peer lending marketplace. The hiatus was due to the company’s registration with the Securities and Exchange Commission (SEC).
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Five Things to Consider Before Consolidating Retirement Accounts Author: Hazel Becker
Consolidating your retirement money into as few accounts as possible is an admirable goal. As is often true with taxes, though, it’s not easy to accomplish unless you know the rules. Here are some things you need to know about before proceeding.
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Settlement Offered By IRS To Owners Of Secret Offshore Accounts Author: Manatt, Phelps & Phillips, LLP
People are always looking for ways to avoid paying taxes, and one of the ways wealthy people have avoided taxes over the years is through secret offshore bank accounts. One of the most popular locations for these bank account is Switzerland — thanks to their bank secrecy laws. However, the U.S. appears to be close to retrieving the names of these account holders, and is offering one last chance for them to come clean and report their accounts — or else face criminal charges.
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Expatriation: Taxes on the Way Out the Door Author: Hazel Becker
For anyone who is seriously considering expatriation – i.e., renouncing citizenship or giving up permanent residency – there’s another tax issue to consider: what the IRS calls an “alternative tax regime for certain, expatriated individuals,” better known as the “anti-expatriation” rules.
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Irrevocable Life Insurance Trust: 5 Ways It Can Help With Your Estate Plan Author: John C. Martin, Esq.
Irrevocable life insurance trusts can be a very powerful estate planning tool if structured properly, and used in the right situation.
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Government Shines Spotlight on Foreign Investments Author: Hazel Becker
The news media have been full of reports over the last year about money and assets being held in offshore accounts, and this has brought on a new push for the government to make sure people are reporting all their foreign income at tax time. The IRS announced a new compliance program in March aimed at people and companies with foreign investments, and agency officials have said they will hire as many as 700 new revenue agents and officers to deal with international issues.
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Seven Investment Strategies for Women as They Age Author: Nellie Day
Though men and women have a lot of the same priorities, especially when it comes to investing, women must extra diligent when it comes to their financial situations as they age. This is because they outlive their male counterparts by an average of 5.2 years, the divorce rate is approaching 50 percent and approximately 10 million women are single mothers in America.
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