Admin, Author at Foodman CPAs and Advisors

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Are you Eligible for an IRS Offer in Compromise?

August 2016

Are you Eligible for an IRS Offer in Compromise? was published by JD Supra on 8/15/16. IRS has a program called Offer in Compromise (OIC) which allows eligible Taxpayers to settle a tax debt with IRS for less than the

JD Supra

Should Professional Service Providers Assume Greater AML Vigilance Responsibilities?

August 2016

Should Professional Service Providers Assume Greater AML Vigilance Responsibilities? was published by JD Supra on 8/8/16. Because they are known as “gatekeepers” in the financial industry, Professional Service Providers (PSPs), Bankers, Brokers, Realtors, Casino Managers, Trust Fund Managers, Money Managers,

JD Supra

On-boarding and Off-boarding Bank Clients

July 2016

On-boarding and Off-boarding Bank Clients was published by JD Supra on 8/1/16. After the Panama Papers, and with the recent FinCEN final Customer Due Diligence (CDD) rule, U.S. financial institutions are further focused on tightening internal controls against money laundering,

JD Supra

El IRS y los viajes de ciudadanos estadounidenses al extranjero

July 2016

El IRS y los viajes de ciudadanos estadounidenses al extranjero was published by Derecho Economico in the Dominican Republic jointly with Pellerano and Herrera.

Diario Libre

Penalidades por incumplimiento de FATCA

July 2016

Penalidades por incumplimiento de FATCA was published by Derecho Economico in the Dominican Republica jointly with Pellerano & Herrera.

Diario Libre

Are Compliance Officers at Financial Institutions Now in the Hot Seat for Fines?

July 2016

Are Compliance Officers at Financial Institutions Now in the Hot Seat for Fines? was published by JD Supra on 8/1/16. Otherwise reputable Financial Institutions continue being sanctioned for regulatory non-compliance. Well known“household” names continue receiving fines for failing to establish

JD Supra

Is Big Data a Misunderstood Moving Target?

July 2016

Is Big Data a Misunderstood Moving Target? was published by JD Supra on 7/27/16. The Oxford English Dictionary defines Big Data (BD) as data sets that are complex, hard to understand and difficult to process utilizing conventional methods. Historically,

JD Supra

¡Primera convicción de FATCA!

¡Primera convicción de FATCA! was published by JD Supra on 7/18/16. El 9 de Mayo del 2016, el Departamento de Justicia (DOJ) anunció su primera convicción usando FATCA. Parece ser el principio de procesos penales por el DOJ contra violaciones

¿Sabía Usted que el IRS puede………?

07/12/16

¿Sabía Usted que el IRS puede………? was published by JD Supra on 7/18/16. ¿Sabía usted que bajo el Código de Rentas Internas EE.UU, Sección 6620, si un contribuyente no presenta a tiempo la declaración de impuestos de los EE.UU., el

JD Supra

US Reciprocity to Improve Under FATCA? Perhaps

July 2016

US Reciprocity to Improve Under FATCA? Perhaps was published by the Daily Business Review on 7/1/16. On May 5, Treasury Secretary Jacob J. Law wrote to U.S. House Speaker Paul

Daily Business Review

FinCEN Form 114 (FBAR) and IRS Form 8938 – Clearing the Air

June 2016

There seems to be some confusion regarding who must file a Report of Foreign Bank and Financial Accounts (FBAR) and who must file form 8938 Statement of Specified Foreign Financial Assets. This is not a surprise. While both forms are

Foodman CPAs & Advisors

Taxpayers Have 10 Bills of Rights

June 2016

Each and every taxpayer has a set of fundamental rights they should be aware of when dealing with the IRS. The Taxpayer Bill of Rights (also known as TABOR) groups the existing rights in the tax code into ten fundamental