If you Exchange Virtual Currency, you are a Money Transmitter and must comply with the Bank Secrecy Act (BSA)
If you Exchange Virtual Currency, you are a Money Transmitter and must comply with the Bank Secrecy Act (BSA) article was published by JD Supra on 7/23/19. FinCEN defines a Money Service Business (MSB) as any person DOING BUSINESS, whether
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Understanding how Taxpayers may Appeal to the IRS Office of Appeals
Understanding how Taxpayers may Appeal to the IRS Office of Appeals was published by JD Supra on 7/16/19. IRS has an Office of Appeals (OOA) that operates as an “independent” organization within the IRS. The goal of the OOA is
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Will the IRS Integrated Modernization Business Plan Work?
Will the IRS Integrated Modernization Business Plan Work? was published by JD Supra on 7/19/19. On April 18, 2019, IRS released the IRS Integrated Modernization Business Plan April 2019(Plan) – a six year Plan designed to modernize the IRS’ technology systems,
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Tax Scams put Taxpayers at Risk
Tax Scams put Taxpayers at Risk was published by JD Supra on 7/9/19. The IRS produces a yearly list of Tax Scams known as the Dirty Dozen that Taxpayers may encounter. IRS reiterates that Tax Scams put Taxpayers at Risk
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Penalty of $25,000 for Foreigners with a 25% ownership stake or control of a U.S. legal entity that fail to file Form 5472
Penalty of $25,000 for Foreigners with a 25% ownership stake or control of a U.S. legal entity that fail to file Form 5472 was published by JD Supra on 7/9/19. Form 5472 is an Information Return of a 25% Foreign-Owned
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Is There an Anti-Money Laundering (AML) Component to the Revision of the IRS EIN Process?
Is There an Anti-Money Laundering (AML) Component to the Revision of the IRS EIN Process? was published by JD Supra on 6/25/19. An EIN is also known as a Federal Entity Tax Identification Number (EIN) and is used to identify
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Taxpayers that have VIRTUAL CURRENCY held in a Centralized Virtual Currency Exchange outside the U.S must file an FBAR and FORM 8938!
Taxpayers that have VIRTUAL CURRENCY held in a Centralized Virtual Currency Exchange outside the U.S must file an FBAR and FORM 8938! was published by JD Supra on 6/11/19. On May 30, 2018, the AICPA (American Institute of Certified Public
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Content Matters in a Suspicious Activity Report (SAR)
Content Matters in a Suspicious Activity Report (SAR) was published by JD Supra on 6/4/19. The Suspicious Activity Report (SAR) was created by five federal financial agencies and the Treasury Department’s Financial Crimes Enforcement Network (FinCEN). The purpose of the
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Varsity Blues, the “Charity” and how a Forensic Accountant can be a Silver Bullet!
Varsity Blues, the “Charity” and how a Forensic Accountant can be a Silver Bullet! was published by JD Supra on 5/29/19. The forensic accounting skillset of FBI Special Agent, Mrs. Laura Smith, is receiving a lot of credit for her
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¿Está su pasaporte en riesgo?
Está su pasaporte en riesgo? was published by JD Supra on 5/21/19. Los Contribuyentes Estadounidenses con facturas de impuestos vencidas que han sido identificados por el IRS corren el riesgo de perder los privilegios de pasaporte de los EE. UU.
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IRS: Las Cuentas Financieras “Offshore” NO pasarán Inadvertidas
IRS: Las Cuentas Financieras “Offshore” NO pasarán Inadvertidas was published by JD Supra on 5/14/19. El 15 de marzo del 2019, el IRS informó que la ocultación de dinero o activos en cuentas extraterritoriales (“offshore”) no declaradas permanece en la
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El Nudo Corredizo se está Cerrando
El Nudo Corredizo se está Cerrando was published by JD Supra on 5/1/19. Ahora que el IRS lleva cuatro años intercambiando datos de FATCA en sus computadoras y se está embarcando en una Campaña de Exactitud de Presentación de FATCA,
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