AI Governance in LATAM: Why Oversight is the New Credibility Standard
Why Guardrails Matter More Than Ever in the Age of Quantum and DNA-Driven Processing By Stanley Foodman, CEO, Foodman CPAs & Advisors In 1942, science fiction writer Isaac Asimov proposed three simple laws to govern intelligent machines. They were elegant. They were clear. And, if you’ve read Asimov, you know, they failed. Why? Because context […]
Compliance Is Not a Cost Center: It’s a Strategic Advantage
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 question: “How much does compliance cost us?” The better question is: “What does it enable us to achieve?” For too long, regulatory compliance has been […]
CRS 3.0: What LATAM Compliance Teams Need to Know Now
By Foodman CPAs & Advisors 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 financial institutions and jurisdictions preparing for mandatory compliance beginning January 1, 2026, with the first reports due in 2027. For […]
Navigating the Sixth Pillar: A Pragmatic Approach to AML Risk Assessment
Learn how to implement FinCEN’s sixth AML pillar with a strategic, tailored risk assessment approach. Expert insights from Stanley Foodman.
Navigating the Future: Corporate Governance Challenges in 2025
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 corporate governance landscape, Stanley Foodman, CEO of Foodman CPAs & Advisors, and Isabelle Wheeler, Managing Director of Regulatory Compliance, shared their insights, offering a glimpse […]
Foodman’s Help Desk: Your On-Demand Compliance Solution
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 is particularly beneficial for addressing complex, time-sensitive issues across various regulatory frameworks. Here are some specific situations where the Help Desk can assist: The Help […]
FATCA Responsible Officer Certifications due 7/1/25
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 also provided a reminder to users of the new FATCA Registration System sign-in options. Entities that are required to certify ought to keep in mind […]
IRS Pilot Mediation Programs
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 tax disputes earlier and more efficiently. The IRS Pilot Mediation Programs announcements pertain to the implementation of pilot programs centered on Fast Track Settlement (FTS) […]
Tax Preparation 2025 Useful Pointers
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, essential tips. As the 2025 filing season draws near, the Internal Revenue Service (IRS) has urged taxpayers to undertake essential preparations for submitting their 2024 […]
NTA Addresses Overlap Reporting
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. “By law, the National Taxpayer Advocate’s report must identify the ten most serious problems taxpayers face in their dealings with the IRS and make administrative […]
Charitable LLCs Warning from IRS
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 businesses, often referred to as “Charitable LLCs.” These schemes frequently target individuals with higher incomes and are classified as abusive transactions by the IRS. Typically, […]
IRS Consumer Alert to Avoid Scams
On 12/2/24, the IRS, along with its Security Summit partners, issued an IRS Consumer Alert and cautioned taxpayers to exercise heightened vigilance during their holiday shopping, as scammers are actively seeking personal information from potential victims. This IRS Consumer Alert marks the beginning of the ninth annual National Tax Security Awareness Week, which provides valuable […]
