Paradise Papers, Panama Papers…. The Message is Clear: Report Offshore Accounts!
Paradise Papers, Panama Papers…. The Message is Clear: Report Offshore Accounts! – JD Supra. First, the Panama Papers, and now… the Paradise Papers. The Paradise Papers contain the names of approximately 31,000 US citizens, including entities, or persons with US
- JD Supra
Hay alternativas viables para los Contribuyentes Fuera de Cumplimiento
Hay alternativas viables para los Contribuyentes Fuera de Cumplimiento – Foodman CPAs & Advisors -11/15/17.
US Persons and Financial Institutions: Beware when engaging financially with Venezuela
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
New GTO covers Wire Transfers
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
The OECD is focused on maintaining the integrity of the CRS
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
Does investing in a PFIC make sense given FATCA reporting?
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
FATCA, FCPA, AML and OFAC allow the US to regulate the world. But what does it really mean?
In the current environment of increased regulation, transparency, reporting and heightened compliance standards, the US and its Government Agencies have an arsenal of tools with extraterritorial application. Following is FATCA, FCPA, AML and OFAC: FATCA: requires Foreign Financial Institutions to
- JD Supra
Are you a Taxpayer identified by IRS for not Reporting Offshore Financial Assets?
Taxpayers with unreported foreign financial assets and income run the risk of having the Government determine if their conduct was willful or non-willful. The definition of “Willful” or “non-willful” in Taxpayer’s conduct makes a big difference in how civil or
- JD Supra
Do you know about FATCA international payments?
Do you know about FATCA international payments? was published by the South Florida Legal Guide.
- South Florida Legal Guide/Miami Herald Business Monday
Why you need EXPERT ADVICE if you have a PFIC and you are out of Compliance!
Taxpayers need to rely on the expert professional advice of a tax specialist for the treatment of Passive Foreign Investment Companies (PFICs) during Offshore Voluntary Disclosure Program (OVDP) reporting. PFIC computations are challenging for a Taxpayer in an amnesty program
- JD Supra
International Noncompliance
International Noncompliance was published by the South Florida Legal Guide.
- South Florida Business Journal Supplement to the Miami Herald Business Monday
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