IRS is on to Self-Employed Taxpayers

March 2019

On February 14, 2019, the TREASURY INSPECTOR GENERAL FOR TAX ADMINISTRATION (TIGTA) released the  Report https://www.jdsupra.com/legalnews/irs-is-on-to-self-employed-taxpayers-46996/

  • JD Supra

FinCEN makes Permanent Decision on Renewals and Rollovers. Financial Institutions still need to document information if they become aware of a change in Beneficial Ownership

March 2019

The Financial Crimes Enforcement Network (FinCEN) provided the banking industry certain “permanent” relief from collecting beneficial ownership information regarding certain accounts (Covered Products) that automatically “renew and rollover” https://www.jdsupra.com/legalnews/fincen-makes-permanent-decision-on-13302/

  • JD Supra

Are you at Risk for a Tax Time Surprise?

March 2019

There will be Taxpayers whose 2018 federal income tax withholding unexpectedly falls short of their tax liability for Tax Year 2018.  IRS states that https://www.jdsupra.com/legalnews/are-you-at-risk-for-a-tax-time-surprise-40953/

  • JD Supra

Understanding How to Compute a U.S. shareholder’s GILTI inclusion

February 2019

The Tax Cuts and Jobs Act added section 951A to the Internal Revenue Code.  This new section requires a U.S. shareholder of a Controlled Foreign Corporation (CFC) to https://www.jdsupra.com/legalnews/understanding-how-to-compute-a-u-s-72734/

  • JD Supra

Prevent Fraud with a “Perception for Detection”

February 2019

There is a reality that fraud can occur at every level of a business. https://www.jdsupra.com/legalnews/prevent-fraud-with-a-perception-for-56102/

  • JD Supra

Streamlined Filing Program for U.S. Taxpayers Residing Outside of the U.S. continues to be available but can be Discontinued at any time!

February 2019

After the closing of the Offshore Voluntary Disclosure Program (OVDP) – which ended on September 28, 2018, the US Department of Treasury released a https://www.jdsupra.com/legalnews/streamlined-filing-program-for-u-s-19184/

  • JD Supra

Disclosing Voluntarily to the IRS to potentially avoid Criminal Prosecution is still an Option for Taxpayers, but with some changes going forward……

February 2019

On September 28, 2018, the IRS closed the Offshore Voluntary Disclosure Program (2014 OVDP).  The 2014 OVDP (and prior 2011 and 2009 programs) had the purpose of https://www.jdsupra.com/legalnews/disclosing-voluntarily-to-the-irs-to-19065/

  • JD Supra

Actualización de noticias sobre impuestos para los Contribuyentes Estadounidenses que viven en el Extranjero

February 2019

La capacidad del IRS para negar o revocar los Pasaportes de los Contribuyentes con “deuda tributaria gravemente morosa mayor de https://www.jdsupra.com/legalnews/actualizacion-de-noticias-sobre-28308/

  • JD Supra

Tax News Update for U.S. Taxpayers living Abroad

February 2019

The IRS ability to deny or revoke the Passports of Taxpayers with “seriously delinquent tax debt greater than $50,000” is a distressing problem https://www.jdsupra.com/legalnews/tax-news-update-for-u-s-taxpayers-97716/ 

  • JD Supra

Tenga Cuidado con la Campaña de Precisión de Presentación de FATCA del IRS

January 2019

El 30 de octubre del 2018, la división Internacional y de Grandes Empresas del IRS (“LBI”) anunció la aprobación de una campaña de  https://www.jdsupra.com/legalnews/tenga-cuidado-con-la-campana-de-18487/

  • JD Supra

Beware of the IRS FATCA Filing Accuracy Campaign

January 2019

On October 30, 2018, the IRS Large Business and International division (LBI) announced the approval of a compliance campaign regarding  https://www.jdsupra.com/legalnews/beware-of-the-irs-fatca-filing-accuracy-37083/

  • JD Supra

No Ponga en Peligro su Pasaporte: ¡El Departamento de Estado de los Estados Unidos se mantiene indemne!

January 2019

La habilidad del IRS de poder negar o revocar los Pasaportes de los Contribuyentes con “deuda tributaria gravemente morosa” es un   https://www.jdsupra.com/legalnews/no-ponga-en-peligro-su-pasaporte-el-74595/

  • JD Supra