tax fraud

EN POCAS PALABRAS: NUNCA SE ENCUENTRE EN UN CASO DE FRAUDE FISCAL SIN UN ABOGADO Y UN CONTADOR FORENSE TRABAJANDO EN UN EQUIPO

November 2021

El IRS agregó recientemente nuevas categorías de fraude fiscal En su Manual de Fraude actualizado recientemente, el IRS agrega nuevas categorías de fraude fiscal, incluyendo el ocultamiento de cuentas bancarias nacionales o extranjeras y activos digitales como la moneda virtual.

  • Foodman website and JD Supra
Virtual Currency and tax

How Will Virtual Currency Be Taxed?

November 2021

Non-compliance with virtual currency (crypto) tax rules can cost taxpayers dearly It Depends Who You Ask! Despite the confusing interpretations by US regulators, non-compliance with crypto tax rules can cost taxpayers dearly. Unfortunately, the answer to “how is virtual currency

  • Foodman website and JD Supra
tax fraud

How a Forensic Accountant Can Help Attorneys in Tax Fraud Cases

November 2021

The IRS recently added new categories of tax fraud In its recently updated Fraud Handbook, the IRS adds new categories of tax fraud, including concealing domestic or foreign bank accounts and digital assets such as virtual currency. And they are

  • Foodman website and JD Supra
cryptocurrency

Subprime Market Redux: Will Leverage Be Crypto’s Downfall?

November 2021

I Predicted the Subprime Lending Bubble’s Collapse. The Signs Are The Same For Cryptocurrency. When I predicted the bursting of the housing market’s subprime lending bubble in 2006, a lot of people called me crazy. And some of the people

  • Foodman website and JD Supra
crypto asset

IRS Puts Brokers On The Hot Seat for Crypto Tax Reporting

November 2021

Definition of a broker is debated The Biden Administration’s 2021–2022 Priority Guidance Plan (the Plan) supports a push from the IRS and the US Treasury to more closely scrutinize the virtual currency industry.  Missing from the Plan? Specifics. Of note

  • Foodman CPA website and JD Supra
Virtual Currency Industry

OFAC Puts Virtual Currency Industry on Notice

November 2021

New Guide Includes Reporting Requirements and Potential Penalties In a new Sanctions Compliance Guide, The Office of Foreign Assets Control (OFAC) of the U.S. Treasury reiterates that obligations apply equally to transactions involving virtual currencies and those involving traditional fiat

  • Foodman website and JD Supra
FATCA and CRS Service Providers

Questions FIs Should Ask External FATCA and CRS Service Providers

September 2021

OECD Guide Offers Financial Institutions Advice on FATCA and CRS Hiring External Service Organizations to Handle Compliance While financial institutions (FIs) have final responsibility for compliance with the Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standards (CRS), many

  • Foodman Website and JD Supra
FATCA and CRS Stakeholder

How to Ensure FATCA and CRS Stakeholder Collaboration

September 2021

OECD Report suggests compliance regime elements for FIs and Stakeholders Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standards (CRS) stakeholders are key to financial institutions’ (FIs) successful implementation, compliance, and maintenance efforts. These activities require funding, monitoring and

  • Foodman Website & JD Supra
non compliance

How Tax Administrations Handle FATCA, CRS Non-Compliance

August 2021

OECD Report Details Preventative and Corrective Measures for Financial Institutions’ FATCA and CRS Non-Compliance Tax administrations can use a combination of detective, preventative and corrective measures to assess and treat Foreign Account Tax Compliance (FATCA) and Common Reporting Standard (CRS)

  • Foodman website and JD Supra
Virtual Currency Industry

Debunking Five Myths About Cryptocurrency

August 2021

A surge in cryptocurrency prices this year created many crypto paper millionaires and brought millions into the game. But the digital currency market is a rollercoaster ride. As a result, many of those fortunes have already evaporated as crypto prices

  • website and JD Supra
OECD CARF el CARF OECD

How Tax Administrations Can Monitor FIs’ FATCA and CRS Compliance Training

August 2021

Governance and Implementation Compliance Hallmarks for FIs A new report from the Organization for Economic Cooperation and Development (OECD) says that tax administrations can assess financial institutions’ FATCA and CRS compliance by monitoring their staff training initiatives. The report, “Guide

  • website and JD Supra
data access

IRS Security Summit Offers Tips on How to Prevent Identity Theft and Tax Fraud

Two-factor Identification is one of the cheapest and easiest ways to prevent tax fraud. As Certified Fraud Examiners (CFEs) we suggest many other safeguards to our clients. As Certified Fraud Examiners (CFE) my firm has long helped clients untangle webs

  • Foodman CPAs

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