IRS using Data Analytics to Uncover Criminal Arrangements

August 2019

IRS-Criminal Investigation (IRS-CI) is a federal agency department specifically authorized to investigate and  https://www.jdsupra.com/legalnews/irs-using-data-analytics-to-uncover-67780/

  • JD Supra

When do you need an IRS Certifying Acceptance Agent?

August 2019

There are foreign national Individuals and other foreign Persons that do not have or do not qualify for a Social Security Number (SSN) but need a  https://www.jdsupra.com/legalnews/when-do-you-need-an-irs-certifying-16624/

  • JD Supra

Does it make sense to go from an S-Corp to a C-Corp?

August 2019

IRS defines an S-Corp as a corporation whose shareholders make the election to pass corporate income, losses, deductions, and credits through to their shareholders for https://www.jdsupra.com/legalnews/does-it-make-sense-to-go-from-an-s-corp-45960/

  • JD Supra

What is an Abusive Tax Trust?

August 2019

In a “legitimate” Trust, the ownership and control of the Trust assets and income is “separate” from a Settlor’s control and https://www.jdsupra.com/legalnews/what-is-an-abusive-tax-trust-56770/

  • JD Supra

An effective compliance program can help diminish an organizational criminal fine

July 2019

On April 30, 2018, the Criminal Division of the US Department of Justice (DOJ) released a  https://www.jdsupra.com/legalnews/an-effective-compliance-program-can-13323/

  • JD Supra

If you Exchange Virtual Currency, you are a Money Transmitter and must comply with the Bank Secrecy Act (BSA)

july 2019

FinCEN defines a Money Service Business (MSB) as any person DOING BUSINESS, whether or not on a regular basis or as an organized business concern, in one or more of the following capacities: https://www.jdsupra.com/legalnews/if-you-exchange-virtual-currency-you-87129/

  • JD Supra

Understanding how Taxpayers may Appeal to the IRS Office of Appeals

July 2019

IRS has an Office of Appeals (OOA) that operates as an “independent” organization within the IRS. The goal of the OOA is to  https://www.jdsupra.com/legalnews/understanding-how-taxpayers-may-appeal-93524/

  • JD Supra

Will the IRS Integrated Modernization Business Plan Work?

July 2019

On April 18, 2019, IRS released the IRS Integrated Modernization Business Plan April 2019(Plan) – a six year Plan designed to https://www.jdsupra.com/legalnews/will-the-irs-integrated-modernization-85379/

  • JD Supra

Tax Scams put Taxpayers at Risk

July 2019

The IRS produces a yearly list of Tax Scams known as the Dirty Dozen that Taxpayers may  https://www.jdsupra.com/legalnews/tax-scams-put-taxpayers-at-risk-64501/

  • JD Supra

Penalty of $25,000 for Foreigners with a 25% ownership stake or control of a U.S. legal entity that fail to file Form 5472

July 2019

Form 5472 is an Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign Corporation Engaged in a https://www.jdsupra.com/legalnews/penalty-of-25-000-for-foreigners-with-a-36597/

  • JD Supra

Is There an Anti-Money Laundering (AML) Component to the Revision of the IRS EIN Process?

June 2019

An EIN is also known as a Federal Entity Tax Identification Number (EIN) and is used to  https://www.jdsupra.com/legalnews/is-there-an-anti-money-laundering-aml-92031/

  • JD Supra

IRS can Prove that a Taxpayer Under-Reported Income

June 2019

There are Taxpayers that understate income, overstate expenses and present fraudulent claims on their https://www.jdsupra.com/legalnews/irs-can-prove-that-a-taxpayer-under-84163/

  • JD Supra