Category: Current Topics

H-1B Visa: May The Odds Be Ever In Your Favor

By Karine Wenger

It is that time of the year again. U.S. Citizenship and Immigration Services (USCIS) begins accepting petitions for new H-1B “CAP” visas during the first week of April 2018. Each year there is a cap on the maximum number of H-1B visas that will be issued — a 65,000 base cap, plus an additional 20,000 for beneficiaries who hold a U.S. master’s degree or higher. In recent years, the number of new H-1B petitions filed has greatly exceeded the number of available H-1B visas, which has resulted in the USCIS implementing a “lottery,” with only those randomly selected employer petitions being processed. In 2017, USCIS reported to have received over 199,000 H-1B petitions — more three times the number of H-1B visas available. Those fortunate enough to be selected in the lottery would begin employment in H1B on October 1, 2018. Read More

The Closure of This IRS Program May Affect You if You Have Undisclosed Foreign Assets

Do you have undisclosed foreign assets? If so, you’ll need to learn more about the IRS’ decision to terminate its Offshore Voluntary Disclosure Program (OVDP), effective September 28, 2018. Attorney David Foate of Gresham|Savage outlined the eliminated OVDP and shared other available programs that can assist U.S. taxpayers who run afoul of their reporting obligations: Read More