Compliance Matters Archives - Page 37 of 50

Auditors are required to be “Independent” of their Audit Clients

April 2019

Auditors are required to be “Independent” of their Audit Clients was published by JD Supra on 4/23/19. The Sarbanes-Oxley Act of 2002 (SOX) mandates that audit committees be directly responsible for the oversight of the engagement of the company’s independent

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Tax Time and Virtual Currency

April 2019

Tax Time and Virtual Currency was published by JD Supra on 4/9/19. Virtual Currency (VC) investors continue to have accounting challenges at tax time. They are seeking to better understand and comply with their U.S. tax regulatory obligations when using

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IRS Continues to Cross-Reference Foreign Financial Accounts and Assets

April 2019

IRS Continues to Cross-Reference Foreign Financial Accounts and Assets was published by JD Supra on 4/2/19. IRS holds information that is sourced from the FATCA reports submitted by Foreign Financial Institutions (FFI) (on Form 8966 – FATCA Report) and by

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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

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 was published by JD Supra on 3/12/19. The Financial Crimes Enforcement Network (FinCEN) provided the

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Financial Institutions and Golden Passports

February 2019

Financial Institutions and Golden Passports was published by JD Supra on 2/27/19. On October 16, 2018, the Organization for Economic Cooperation and Development (OECD) issued guidance to Financial Institutions (FIs) regarding what is known as “Golden Passports”. Many Foreign Jurisdictions

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Can the IRS release Taxpayer information to a third party?

February 2019

Can the IRS release Taxpayer information to a third party? was published by JD Supra on 2/27/19. Tax Return information is protected from disclosure by the IRS to other parties by the IRC Section 6103 -Confidentiality and Disclosure of Returns

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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

Streamlined Filing Program for U.S. Taxpayers Residing Outside of the U.S. continues to be available but can be Discontinued at any time! was published by JD Supra on 2/27/19. After the closing of the Offshore Voluntary Disclosure Program (OVDP) –

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

February 2019

Disclosing Voluntarily to the IRS to potentially avoid Criminal Prosecution is still an Option for Taxpayers, but with some changes going forward was published by JD Supra on 2/5/19. On September 28, 2018, the IRS closed the Offshore Voluntary Disclosure

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

February 2019

Actualización de noticias sobre impuestos para los Contribuyentes Estadounidenses que viven en el Extranjero was published by JD Supra on 2/5/19. Pasaporte La capacidad del IRS para negar o revocar los Pasaportes de los Contribuyentes con “deuda tributaria gravemente morosa

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U.S. Taxpayers living Abroad – Tax News Update

February 2019

Tax News Update for U.S. Taxpayers living Abroad was published by JD Supra on 2/5/19. Passport The IRS ability to deny or revoke the Passports of Taxpayers with “seriously delinquent tax debt greater than $50,000” is a distressing problem currently

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What is new in a “nutshell” for FORM 1040 for TAX YEAR 2018

January 2019

What is new in a “nutshell” for FORM 1040 for TAX YEAR 2018 was published by JD Supra on 1/29/19. For Tax Year 2018, Taxpayers will use the new and re-designed Form 1040 Although the IRS’s sentiment is that many

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Four LATAM Countries will work as a TEAM to TACKLE TAX EVASION, Corruption and Other Financial Crimes

January 2019

Four LATAM Countries will work as a TEAM to TACKLE TAX EVASION, Corruption and Other Financial Crimes was published by JD Supra on 1/29/19. The Global Forum and the Organization for Economic Cooperation and Development (OECD) oversee the internationally agreed