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Foreign Company Acquisition of U.S. Company and Need for Professionals in Each Relevant Jurisdiction

Posted on by Christopher Klug
foreign acquisitions of u.s. companies

When there is a cross-border merger and acquisition there are additional complexities to plan for, typical acquisition planning in one country may be different than in another country, and the resulting tax implications can be significant. We have represented both the acquiror and target in a number of cross-border acquisitions and getting the right result requires a careful analysis of the tax implications involved. What may seem like a very small detail may have very serious tax implications that greatly impacts the result of the acquisition for either the acquiror or target. […]

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Be Careful When the Terms of An Acquisition Seem Too Good to be True – They Usually Are

Posted on by Christopher Klug
Mergers and Acquisitions Tax

When there is a cross-border merger and acquisition there are additional complexities to plan for, typical acquisition planning in one country may be different than in another country, and the resulting tax implications can be significant.  We have represented both the acquiror and target in a number of cross-border acquisitions and getting the right result requires a careful analysis of the tax implications involved.  What may seem like a very small detail may have very serious tax implications that greatly impacts the result of the acquisition for either the acquiror or target. […]

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ERC – Voluntary Disclosure Program Overview (Employee Retention Credit Series)

Posted on by Christopher Klug
ERC Voluntary Disclosure Program

The ERC was first introduced in March 2020 to help employers retain employees through the Covid-19 pandemic. The IRS has made it a priority to recover wrongly claimed refunds through the ERC. Given the ERC required no formal approval process other than for the employer to file their employment tax returns or amended employment tax returns, there was huge potential for abuse. […]

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Employee Retention Credit (Employee Retention Credit Series)

Posted on by Christopher Klug

The Employee Retention Credit (“ERC”) was first introduced in March 2020 to help employers retain employees through the Covid-19 pandemic.  The Internal Revenue Service (“IRS”) has made it a priority to recover wrongly claimed refunds through the ERC.  […]

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Beneficial Ownership Information Report

Posted on by Basswood Counsel

Starting this year, most companies doing business in the US must report information about their beneficial owners (“BOI” or “BOI report”) to the US Department of Treasury’s Financial Crimes Enforcement Network (FinCEN). This requirement is based on the Corporate Transparency Act (“CTA”) enacted by Congress in 2021 to prevent money laundering, tax fraud, and other illicit activities. […]

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Target Company: Be Careful in Changing its Tax Status Preacquisition at the Insistence of the Acquiror

Posted on by Christopher Klug
Tax Reminders for Target Companies in Mergers & Acquisitions

Target companies in mergers and acquisitions are often directed by the acquiror to change its tax classification preacquisition for U.S. tax purposes.  There are several reasons that an acquiror may request the target company to change its tax classification.  For example, the acquiror may not want an entity taxed as a c-corporation in its portfolio of companies.  […]

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Immediate Action to Apply for the ERC – Voluntary Disclosure Program

Posted on by Christopher Klug
Immediate Action to Apply for the ERC – Voluntary Disclosure Program

It is important for employers who made questionable claims for the Employee Retention Credit (“ERC”) to take immediate action to determine whether the ERC Voluntary Disclosure Program (“ERC VDP”) is their best compliance option.  Since the ERC required no formal approval process other than the employer to file their employment tax returns or amended employment tax returns, there was huge potential for abuse that promoters heavily marketed. The deadline for an employer to apply for the ERC VDP is March 22, 2024.  […]

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U.S. Taxation of Foreign Nationals Working in the U.S., Including Planning Opportunities

Posted on by Christopher Klug

As multinational corporations continue to expand their operations globally, they must navigate a complex web of tax regulations and laws. It is essential that they take a comprehensive approach to tax planning and not make decisions solely based on the U.S. tax implications. […]

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