AI-powered AML tools are everywhere—but many can’t pass an audit. As the market for anti-money laundering (AML) software explodes, fueled by financial crime, regulatory pressure, and AI innovation, many platforms
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Why Guardrails Matter More Than Ever in the Age of Quantum and DNA-Driven Processing By Stanley Foodman In 1942, science fiction writer Isaac Asimov proposed three simple laws to govern intelligent
By Stanley Foodman, CEO of Foodman CPAs & Advisors In a global environment where regulations are rapidly evolving and oversight agencies are increasing scrutiny, many organizations are asking the wrong
In 2024, the OECD introduced a major update to the Common Reporting Standard (CRS), known as CRS 3.0. While formally adopted in 2024, 2025 is a critical transition year for
Learn how to implement FinCEN’s sixth AML pillar with a strategic, tailored risk assessment approach. Expert insights from Stanley Foodman.
Por favor haga clic en este enlace para leer en español. [To hear audio excerpts on each topic, click the topic title.] As financial institutions prepare for the rapidly evolving
The Help Desk at Foodman CPAs & Advisors is designed to provide financial institutions and businesses with on-demand, expert assistance for a wide range of regulatory compliance challenges. This service
On 1/21/25, the IRS issued Bulletin Issue Number: 2025-02 to remind the FATCA Responsible Officer that Certifications are due 7/1/25 for the Certification period ending December 31, 2024. The Bulletin
On 1/15/25, the IRS announced three pilot programs to test changes to existing Alternative Dispute Resolution (ADR) programs. The new IRS Pilot Mediation Programs are designed to help taxpayers resolve
On 12/19/24, anticipating the 2025 filing season, the IRS published Tax Preparation 2025 Useful Pointers in IR-2024-311: Prepare to file in 2025: Get Ready for tax season with key updates,
On 1/8/25, the National Taxpayer Advocate (NTA) published its 2024 Annual Report to Congress and identified taxpayers’ problems and provided suggestions to further protect taxpayer rights and ease taxpayer burden.
On 11/4/24, the Internal Revenue Service issued a warning to taxpayers regarding the dangers of engaging with promoters of fraudulent tax schemes that involve donating ownership interests in closely held
