International Tax news & updates
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Ground Hog Day 2022 Edition
A Note from Jack
Belated New Year greetings to all.

Winter is living up to its promise, with snowstorms blanketing the country from south to north. Wall Street has been taking some deep dives, and our new NYC mayor Eric Adams has had no shortage of disasters and tragedies to handle in his few short weeks in office. But the good news is that Omicron seems to be in retreat.

At IWTA, we are preparing clients for all the changes in the tax code coming about from the bipartisan Infrastructure Investment and Jobs Act (IIJA), the new Corporate Transparency Act, the elimination of the Employee Retention Tax Credit (ERC), the FBAR smackdown, and the IRS push to target the cryptocurrency industry and investors. No shortage of issues to keep us busy -- besides the usual acceleration that happens this time of year in our industry.

Our feature article this month is my “look ahead” for 2022: International Tax in 2022: The Year of Disclosure and Investment. As always, I appreciate your comments!

Speaking of comments and questions: What are your or your clients’ questions regarding cryptocurrency, NFTs and taxes? I would love to know! I will be appearing soon on a live Twitter show answering these very questions. You can submit anonymously, if you wish. See below. I promise to report about the Q & A afterwards.

In the meantime, stay warm, stay healthy.

Best,

Jack
In 2022, high net worth individuals, corporations and business entities should expect to be on the receiving-end of more scrutiny by taxing authorities. Given the headlines on tax havens, crypto investing, and economic recovery from the still-lingering Covid-19 pandemic, lawmakers are getting creative about tax collections. On the other hand, foreign investors should expect to be courted with tax incentives by countries competing for capitol.
CRYPTO and TAX:
GOT QUESTIONS?
We want to hear them! Email them to [email protected]
The crypto tax landscape is a topic of increasing interest. We know that crypto, ETF and NFT investors have the IRS' attention, but tax laws specifically addressing crypto and the blockchain are years in the making.

We want to hear your questions and concerns. If we use them on an upcoming podcast or livestream, we promise to maintain your anonymity.

For further reading on cryptocurrency and taxes, see our 2021 articles for JD Supra: The Crypto Tax Dilemma and Crypto—Illegal Coin or Legal Tender?

Three Key Tax Implications of the Biden Administration’s New Infrastructure Bill
Crypto Targeting - Employee Retention Expiring - Pension Smoothing
Signed into law on November 15, 2021, the 1.2 trillion-dollar, bi-partisan Infrastructure Investments and Jobs Act (IIJA) injects new funds into critical utilities such as broadband. It funds rail and transportation improvements, water systems, roads, bridges and highway systems and other major projects.

Our blog post covers three major tax changes that will affect businesses and investors.
Free Download of the Month:
The Credit Suisse 2021 Global Wealth Report
"This report delivers a comprehensive analysis on available global household wealth, underpinned by unique insights from leading academics in the field, Anthony Shorrocks and James Davies. This year’s edition digs deeper into the impact of the COVID-19 pandemic and the response of policymakers on global wealth and its distribution.

Mindful of the important wealth differences that have built over the last year, our report also offers perspectives and, indeed,
encouraging prospects, for wealth accumulation throughout the global wealth pyramid as we look to a world beyond the pandemic."
c. 2022 International Wealth Tax Advisors