What the New U.S. Tax Law Means for Offshore Trusts, Compliance, and Reporting
A strategic Q&A with Stanley Foodman, CEO of Foodman CPAs & Advisors Introduction When the new U.S. tax law passed on July 4, clients and financial institutions began asking the same question: how will this impact us? I asked my team to gather the most common concerns from across our network so I could address […]
Post-CTA Compliance: What Banks and Family Offices Must Do with Beneficial Ownership Data in 2025
By Foodman CPAs & Advisors The CTA Deadline Has Passed. Now Comes Enforcement. The January 1, 2025, Corporate Transparency Act (CTA) filing deadline marked a shift from compliance preparation to regulatory enforcement. Financial institutions and fiduciaries are entering a new phase focused on data use, systems integration, and audit readiness. As of mid-2025, FinCEN has […]
Hidden Risks in LLC Operating Agreements: How IRS Relief Protects S Corporation Status During M&A
By Foodman CPAs & Advisors One Clause. Big Consequences. A boilerplate clause in an LLC’s operating agreement can silently jeopardize an entire transaction. For financial institutions, legal advisors, and family offices involved in M&A, losing S corporation status is not just a technical error. It creates real tax exposure and can reduce deal value significantly. […]
How Offshore Trusts, Shell Companies, and Spousal Structuring Enabled $350M in Tax Evasion
By Foodman CPAs & Advisors A Global Case Study in Tax Evasion And Oversight Failure Offshore trusts in the BVI. Shell companies in Panama. Nominee directors, cross-border income shifting, and hidden ownership structures spanning more than a decade. Earlier this year, a former Pentagon contractor pleaded guilty to a 15-year tax evasion scheme that moved […]
Tax Risk Management for HNWIs: Why Proactive Forensic Oversight Is a Strategic Imperative
By Stanley Foodman | CEO, Foodman CPAs & Advisors For high-net-worth individuals (HNWIs), managing wealth today is as much about protection as it is about performance. In an era of unprecedented global transparency, expanding IRS enforcement, and complex cross-border financial footprints, tax exposure becomes a strategic risk. At this level, traditional tax planning is no […]
Structure with Substance: How Family Offices Can Avoid Permanent Establishment Risks in a BEPS 2.0 World
By Stanley Foodman | CEO, Foodman CPAs & Advisors In today’s global tax environment, compliance is no longer a static obligation. It has become a dynamic exercise in credibility. The expansion of the OECD’s Base Erosion and Profit Shifting (BEPS) framework, along with the continued rollout of BEPS 2.0, is reshaping how family offices must […]
AI Governance for LATAM and Caribbean Financial Institutions: Oversight as the New Credibility Benchmark
By Stanley Foodman May 2025 In 1942, science fiction writer Isaac Asimov introduced three laws to govern intelligent machines. While visionary, these laws ultimately fell short because they couldn’t account for context, loopholes, and the inherent flaws in human-designed systems. Today, financial institutions across Latin America and the Caribbean face a real-world parallel: How do […]
Crypto’s Compliance Crossover: Are You Ready for Multi-Framework Reporting?
By Stanley Foodman | CEO, Foodman CPAs & Advisors The once clear line between traditional finance and digital assets is gone. With the global adoption of the OECD’s Crypto-Asset Reporting Framework (CARF), we are entering a new regulatory era, one where tax transparency expectations apply equally to crypto and fiat accounts. The introduction of CARF, […]
Three Ways Forensic Reporting Builds Institutional Integrity
by Foodman CPAs & Advisors In today’s increasingly litigious and compliance-driven environment, transparency is no longer optional. It’s foundational. Across LATAM and globally, recent trends point to a noticeable rise in regulatory inquiries, shareholder disputes, and enforcement actions. As a result, executive teams and boards are placing greater emphasis on auditability, documentation, and the […]
Tax Transparency in Cross-Border Structuring: What LATAM Institutions Should Prepare for in 2025
by Foodman CPAs & Advisors As global tax transparency standards evolve, financial institutions across Latan America (LATAM) are facing rising expectations, particularly in how they manage cross-border structuring, beneficial ownership disclosure, and digital asset reporting. The latest OECD compliance updates signal a strategic shift: tax transparency is no longer a matter of passive reporting. It […]
Crypto Compliance: Are You Ready for CARF and VASP Regulations?
By Foodman CPAs & Advisors The introduction of the Crypto-Asset Reporting Framework (CARF) and evolving standards for Virtual Asset Service Providers (VASPs) represent a seismic shift in global regulatory expectations for cryptocurrency. Despite clear signals from regulators, many financial institutions, especially across LATAM, remain unprepared, creating dangerous compliance blind spots. Historically, cryptocurrencies operated in environments […]
The Compliance Gap in AML AI: Why Audit-Ready Tools Matter
By Foodman CPAs & Advisors 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 promise efficiency, speed, and reduced false positives. But beneath the surface lies a critical gap: audit readiness. For compliance officers […]
