FATCA certifications due December 15 and it is best to certify

October 2018

A FATCA certification consists of answers to one or more series of questions that the Responsible Officers (RO) of certain entities must answer and submit to the IRS to confirm the entities’ compliance with the requirements of FATCA.  https://www.jdsupra.com/legalnews/fatca-certifications-due-december-15-47004/

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Cybercriminals are after Tax Professionals and Taxpayer Data

September 2018

Cybercriminals are attracted to Tax Professionals’ databases because they can access Taxpayer data and use compromised IP addresses and computers of the Tax Professionals to file a tax return with IRS.   https://www.jdsupra.com/legalnews/cybercriminals-are-after-tax-98496/

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Why am I being audited by the IRS?

September 2018

An IRS Audit is designed to be an impartial review to assess tax return filing accuracy. IRS selects returns for audit to determine the reporting accuracy of income, expenses, and/or refundable credits.   https://www.jdsupra.com/legalnews/why-am-i-being-audited-by-the-irs-94435/

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IRS ENDS OVDP right when some Taxpayers GET IT!

September 2018

On March 13, 2018, IRS announced the termination of the Offshore Voluntary Disclosure Program (OVDP) as of September 28, 2018 (Notice IR-2018-52).  OVDP has been available to Taxpayers that willfully failed to report foreign financial assets and pay all tax

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¡FATCA Se Está Enforzando A Pesar De Hipos Y Reporte De TIGTA!

August 2018

El 5 de Julio del 2018, el Inspector General del Tesoro para la Administración Tributaria (TIGTA) emitió un informe:   https://www.treasury.gov/tigta/auditreports/2018reports/201830040fr.pdf  titulado: “A pesar de gastar casi $380 Millones, el IRS aún no está preparado para hacer cumplir la Ley de Cumplimiento

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Did you know that GTO’s have a $300,000 Threshold?

August 2018

A GTO is a Geographic Targeting Order issued by the Financial Crimes Enforcement Network (FinCEN) under the Bank secrecy Act (BSA) for a specific geographic area.  FinCEN has issued GTOs requiring certain U.S. title insurance companies to record and report

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Gatekeepers are under a lot of Stress!

August 2018

The FATF is an independent inter-governmental entity that develops policies for protection of our global financial system from money laundering (AML), terrorist financing and financing of weapons of mass destruction.  https://www.jdsupra.com/legalnews/gatekeepers-are-under-a-lot-of-stress-33947/

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What is a Virtual Currency Taxable event?

August 2018

There continues to be limited Virtual Currency (VC) guidance from the US Treasury and the IRS and VC investors ought to proceed cautiously.  IRS continues to make reference to Notice 2014-21 to remind Taxpayers that VC currency is treated as

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Pasaportes Estadounidenses: Los Contribuyentes Deben Actuar Antes De Que El IRS Notifique Al Departamento De Estado

August 2018

Los contribuyentes Estadounidenses que se presentan ante el IRS para acordar el pago de su deuda tributaria gravemente morosa antes de que el IRS notifique al Departamento de Estado de lo EE.UU podrían lograr un mejor resultado con respecto a

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US Passports: Taxpayers Should Act Before IRS Notifies The State Department

August 2018

US Taxpayers that come forward to the IRS to arrange payment of their seriously delinquent tax debt before the IRS notifies the US Department of state stand to achieve a better outcome regarding the potential revocation or denial of US

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AICPA steps up to IRS to recommend that IRS provide Virtual Currency Clarity

July 2018

On 5/30/18, the American Institute of CPAs (AICPA) sent a letter  https://www.jdsupra.com/legalnews/aicpa-steps-up-to-irs-to-recommend-that-20413/

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