Are you Managing your Fraud Risk Proactively?
Managing fraud risk proactively is imperative. It is not only about protecting against financial losses commonly associated with fraud. It is also about surviving reputational risk. There is a need for Organizations to create an environment and implement appropriate controls
- Foodman website and JD Supra
Did you know that IRS reinstated the “ASFR” program in 2019?
Under Internal Revenue Code, Section 6620, if a Taxpayer does not timely file a U.S. tax return, the IRS is authorized to prepare and file a U.S. tax return for that Taxpayer based on the knowledge that it has on
- Foodman website and JD Supra
Does your Third-Party FATCA Consultant have the experience to interpret the complex US Tax Code?
Foreign Financial Institutions (FFIs) have multiple FATCA reporting compliance responsibilities and face the possibility of penalties for not complying. Understanding and interpreting more than 1,000 pages of FATCA regulations requires an underlying comprehension of their words (a new vocabulary) and
- Foodman website and JD Supra
FCInet is Connecting Data with different Worldwide Tax Organizations
In 2018, the Organization for Economic Co-operation and Development (OECD) issued a “call to action” for countries to do more to tackle enablers of tax crimes. The result of this “call to action” was the establishment of an operational alliance
- Foodman website and JD Supra
¿Qué hay de nuevo en la Guía del “DOJ” de Evaluación del Programa de Cumplimiento Corporativo actualizada?
El 1 de junio de 2020, la División Criminal del Departamento de Justicia (“DOJ”) publicó una actualización de la Evaluación de Programas de Cumplimiento Corporativo de la División Criminal del Departamento de Justicia de los Estados Unidos. La Guía de
- Foodman website and JD Supra
How does the “Accounting” for a Forgivable Loan received under the PPP work?
The PPP (Paycheck Protection Program) was established by Congress to assist small businesses during the Covid-19 pandemic as part of the $2 trillion CARES Act. Via the PPP, the U.S. Treasury requires the U.S. Small Business Administration (SBA) to fund
- Foodman website and JD Supra
No deje que el IRS llegue a Usted Primero
Los Contribuyentes Estadounidenses con activos e ingresos financieros extranjeros no declarados corren el riesgo de que el Gobierno determine si su conducta fue intencional o no intencional. La definición de conducta “intencional” o “no intencional” del Contribuyente hace una gran
- Foodman website and JD Supra
Las Instituciones Financieras ya no Pueden Permitirse Sub-Financiar la Contratación y la Capacitación del Cumplimiento
La pandemia del Covid-19 y la reducción de la actividad económica que la acompaña ha sido una justificación para que las Instituciones Financieras (IF) vuelvan a analizar sus presupuestos para la capacitación y educación sobre el cumplimiento. Las IF, así
- Foodman website and JD Supra
OFAC no es parte de la BSA, pero la Convergencia está Ocurriendo
El 15 de abril de 2020, los miembros del Consejo de Examen de Instituciones Financieras Federales (“FFIEC”) publicaron secciones actualizadas y procedimientos de examen relacionados con el Manual de Examen de la Ley de Secreto Bancario / Antilavado de Dinero
- Foodman website and JD Supra
El FATF identifica las Amenazas de Lavado de Dinero derivadas de la Crisis del Covid-19
En mayo del 2020, el FATF (GAFI) publicó nuevas amenazas y vulnerabilidades de lavado de dinero y financiamiento del terrorismo derivadas de la crisis COVID-19. El documento destaca cómo el fraude, el cibercrimen, la mala dirección de los fondos del
- Foodman website and JD Supra
The FATF identifies Money Laundering Threats arising from the Covid-19 Crisis
On May, 2020, the FATF published new money laundering and terrorist financing threats and vulnerabilities arising from the COVID-19 crisis. The document highlights how fraud, cybercrime, misdirection of government funding and international financial assistance are opening the way for illicit
- Foodman website and JD Supra
The “Affidavit” in the IRS Streamlined Filing Compliance Procedures is a Key Component
Streamlined Filing Compliance Procedures (Streamlined) is one of the options available for US Taxpayers with unreported foreign financial assets and income. The intention of the program is to provide non-willful uncompliant Taxpayers with a less stressful path toward recovering compliant
- Foodman website and JD Supra
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