CPAs: To Host or Not to Host
CPAs: To Host or Not to Host was published by JD Supra on 10/18/18. A CPA providing “Hosting Services” to “attest” clients could potentially threaten a CPA’s independence. Hosting Services have evolved over a number of years based on the development
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Understating Form W-7 and the ITIN
Understating Form W-7 and the ITIN was published by JD Supra on 10/18/18. An Individual Taxpayer Identification Number (ITIN) is a tax processing number issued by the IRS to foreign nationals and others who have federal tax reporting or filing
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In or Out of the Bank?
In or Out of the Bank? was published by JD Supra on 10/16/18. With whom we do business can be critical to combating identity theft, financial fraud, money laundering and terrorism. Vetting individuals and entities is necessary for preventing financial
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IRS gives Internal Revenue Manual Voluntary Disclosure Consideration if…….
IRS gives Internal Revenue Manual Voluntary Disclosure Consideration if……. was published by JD Supra on 10/16/18. When IRS reviews a criminal tax case, consideration is given to various factors such as whether a voluntary disclosure was made, whether prosecution exists,
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FATCA certifications due December 15 and it is best to certify
FATCA certifications due December 15 and it is best to certify was published by JD Supra on 10/2/18. A FATCA certification consists of answers to one or more series of questions that the Responsible Officers (RO) of certain entities must
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Cybercriminals are after Tax Professionals and Taxpayer Data
Cybercriminals are after Tax Professionals and Taxpayer Data was published by JD Supra on 9/28/18. Cybercriminals are attracted to Tax Professionals’ databases because they can access Taxpayer data and use compromised IP addresses and computers of the Tax Professionals to
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Why am I being audited by the IRS?
Why am I being audited by the IRS? was published by JD Supra on 9/28/18. An IRS Audit is designed to be an impartial review to assess tax return filing accuracy. IRS selects returns for audit to determine the reporting
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Do I have to file an FBAR if I own Cryptocurrency? Not clear!
Do I have to file an FBAR if I own Cryptocurrency? Not clear! was published by JD Supra on 9/25/18. Both the American Bar Association (ABA) and the American Institute of Certified Public Accountants (AICPA) have written letters (3/19/18 for
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Is calculating the 20 percent deduction for pass-through businesses simple?
Is calculating the 20 percent deduction for pass-through businesses simple? was published by JD Supra on 9/25/18. Section 199A of the Internal Revenue Code provides Individual Taxpayers a deduction for the Qualified Business Income (QBI) of a qualified trade or
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Let’s Understand Filing FBARs
Let’s Understand Filing FBARs was published by JD Supra on 9/25/18. The jurors in the Paul Manafort case had questions regarding the complex Foreign Bank Account Reports (FBARs) regulations. This was evidenced by the jury’s questions to the judge addressing
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IRS ENDS OVDP right when some Taxpayers GET IT!
IRS ENDS OVDP right when some Taxpayers GET IT! was published by JD Supra on 9/18/18. On March 13, 2018, IRS announced the termination of the Offshore Voluntary Disclosure Program (OVDP) as of September 28, 2018 (Notice IR-2018-52). OVDP has
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What we know about Crypto Compliance and US Federal Taxes
What we know about Crypto Compliance and US Federal Taxes was published by JD Supra on 9/18/18. The last Notice issued by the IRS on Cryptocurrency was Notice 2014-21 posted on March 25, 2014 providing guidance in the form of
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