Tag Archives: tax

U.S. Treasury Announces $7 Billion Allocation of New Markets Tax Credit

The United States Department of the Treasury’s Community Development Financial Institutions Fund (CDFI) has last week announced $7 billion in New Markets Tax Credit (NMTC) awards with the goal of economically revitalizing low-income communities across the country.  Particular outcomes that the CDFI hopes to achieve with this round of awards include investment in nonmetropolitan areas, … Continue Reading

New Tax Implications for Israeli Citizens with Foreign Bank Accounts

On Aug. 1, 2016, the Israel Tax Authority announced that it has received information on over 8,000 Israeli clients with foreign bank accounts in Switzerland. The receipt of this list has major tax implications for Israeli citizens who are required to report foreign bank accounts to the Israel Tax Authority. Moreover, this will have additional … Continue Reading

What Every Fund Manager Wants to Know about the ECI Rules (But is Afraid to Ask)

Things can go cataclysmically wrong for offshore fund managers investing in the United States in the most unexpected manner, at the most unexpected time. A complete list of potential fund-manager tsuris is beyond the scope of this Alert. However, one issue that routinely keeps fund managers awake at night is the specter of their funds’ … Continue Reading