Admin, Author at Foodman CPAs and Advisors

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US Persons and Financial Institutions: Beware when engaging financially with Venezuela

October 2017

US Persons and Financial Institutions: Beware when engaging financially with Venezuela -JD Supra. On 8/25/17, President Donald Trump signed an Executive Order (EO) restricting and prohibiting certain transactions between US Persons and Venezuela. The transactions that are prohibited by US

JD Supra

Here is What you Need to Do in Order to Have Stress-Free Foreign Accounts

October 2017

Here is What you Need to Do in Order to Have Stress-Free Foreign Accounts – South Florida Legal Guide.

South Florida Legal Guide Supplement for the Miami Herald - Business Monday

New GTO covers Wire Transfers

October 2017

New GTO covers Wire Transfers – JD Supra On August 22, 2017, FinCEN (Financial Crimes Enforcement Network) published a new Advisory regarding Geographic Targeting Orders (GTOs) covering residential real estate transactions in certain counties or boroughs of New York, Florida, California, Texas

JD Supra

After the Storm: Forensic Accounting = Record Reconstruction

October 2017

IRS is authorized to grant certain relief that may help Taxpayers and Businesses recover financially from the impact of a disaster when the federal government declares their location to be a major disaster area. IRS could grant additional time to

JD Supra

Greedy Charitable Contribution Deductions May Cost You

October 2017

Greedy Charitable Contribution Deductions May Cost You Taxpayers are not required to pay a negligence penalty for underpayment of income taxes if, under Internal Revenue Code regulations, there is reasonable cause for a position that the Taxpayer takes in an

JD Supra

Watch out if you are an Expatriate US Passport Holder with Tax Debt and receive Notice CP-508C!

September 2017

According to the US Department of State, there are approximately nine (9) Million US passport holders living overseas. There continues to be a misimpression by certain US Taxpayers living overseas that they are not required to file US income tax

JD Supra

Bolivia en la Vanguardia del Cumplimiento

10/4/17

Please join us on Wednesday, October 4th at FIBA (Free Webinar) from 12:00 PM to 1:00 PM for a conversation with Dr. Alejandro Taboada – Executive Director of UIF Bolivia. r Register here: https://goo.gl/2RiaY2

FIBA

Out of Compliance Taxpayers: Beware of new IRS-Programs!

September 2017

The IRS-Criminal Investigation Unit (IRS-CI) is the Criminal Law Enforcement Arm of the IRS. Its conviction rate of over 90% is one of the highest in federal law enforcement. Those convicted pay taxes, penalties and interest with the Courts imposing

JD Supra

The OECD is focused on maintaining the integrity of the CRS

September 2017

As of August 2017, 102 international Jurisdictions are committed to the implementation timelines of the Common Reporting Standard (CRS). There are 49 Jurisdictions that are committed to the first exchange during 2017 and 53 Jurisdictions for 2018. The OECD is

JD Supra

Taxpayer, Was Your Conduct Non-willful?

September 25, 2017

Taxpayer, Was Your Conduct Non-willful? – South Florida Legal Guide

South Florida Legal Guide Supplement for the Miami Herald - Business Monday

Does investing in a PFIC make sense given FATCA reporting?

September 2017

Since FATCA’s implementation in 2010, investing in a Passive Foreign Investment Company (PFIC) is a questionable decision. PFICs are reportable investments and their tax regime is punitive. Under FATCA, US Taxpayers’ undisclosed foreign financial holdings are available to IRS through

JD Supra

Mayweather vs. McGregor – is it about the FIGHT or is it about the TAXES? Or the Passport? IRS Collection process?

August 2017

Much has been published concerning Floyd Mayweather’s Federal Tax Liens in the amount of $22.2 Million and an unpaid 2010 IRS debt of $7.2 Million. The Jasminebrand.com released on 7/21/17 that a $3.3 million federal lien has been released by