Comisionado del IRS envía un Mensaje Importante a los Contribuyentes de Altos Ingresos que No Declaran
El 3 de diciembre del 2020, el IRS publicó “Cómo el IRS prioriza el trabajo de cumplimiento en los no declarantes de altos ingresos a través de esfuerzos nacionales e internacionales” en el Estudio titulado “Closer Look”. El estudio se
- Foodman website and JD Supra
Should Banks Continue To Do Business with Entities for Which a SAR is Filed?
- Daily Business Review
IRS Agents Use Methods of Proof
The IRS has tools inside of its Internal Revenue Manual (“IRM”) available to its agents for determining a Taxpayer’s taxable income as well as documenting its adjustments and corrections through what it calls “Methods of Proof”. The IRM describes seven
- Foodman website and JD Supra
“Reasonable Cause” When Dealing with the IRS
On November 5, 2020, the IRS removed the Delinquent Information Submission Procedure Program from its Offshore Compliance Options Menu. Before the removal of this program, a US Taxpayer could file a “delinquent” international information tax return with what is known
- Foodman website and JD Supra
What can I do if I willfully failed to comply with my tax obligations?
Voluntary compliance is the foundation of the US tax system. Although the majority of US Taxpayers voluntarily comply with their obligations, some fail to do so. Submitting a voluntary disclosure via the Voluntary Disclosure Practice may resolve a Taxpayer’s
- Foodman website and JD Supra
IRS Commissioner Hylton sends an important message to high income non-filers
On December 3, 2020, the IRS published “How the IRS prioritizes compliance work on high income non-filers through national and international efforts” in the Closer Look. It addresses how the IRS is in pursuit of high-income non-filers as an important
- Foodman website and JD Supra
Is Section 314 of the USA PATRIOT Act Working?
Section 314 of the USA PATRIOT Act (Sec 314) was drafted by Congress in 2001 to allow financial institutions to work with law enforcement agencies and with each other to support the common goal of deterring money laundering and terrorist
- Foodman website and JD Supra
“Complexity will not hide crime from law enforcement,” California U.S. Attorney on Brockman Indictment
The U.S. Department of Justice (DOJ) 39 count indictment charging Robert T. Brockman, with tax evasion, wire fraud, money laundering, and other offenses, demonstrates that the DOJ is committed to the investigation and prosecution of the costliest and most sophisticated
- Foodman website and JD Supra
Are you purchasing Real Property from a Foreign Person?
On 9/14/20, the IRS announced 4 New Compliance Campaigns . One Campaign addresses FIRPTA (Foreign Investment in Real Property Tax Act of 1980) Reporting Compliance for Non-Resident Aliens (NRAs). FIRPTA authorized the United States to tax foreign persons on dispositions
- Foodman website and JD Supra
GAFILAT Identifies Money Laundering/Terrorist Financing Emerging Threats
GAFILAT (Financial Action Task Force of Latin America) published a Second Update to the Money Laundering Regional Threat Report (2017-2018) that includes: ANNEX VI: THREATS RELATED TO THE COVID-19 PANDEMIC. Considered to be a regional money laundering threat analysis, the
- Foodman website and JD Supra
Erroneous FACTA Withholding?
What if a U.S. Withholding Agent of a Foreign financial Institution (FFI) erroneously applies a 30% Internal Revenue Code (IRC) Chapter 4 FATCA Withholding to a payment to the FFI? What can be done to recover the funds? Who
- Foodman website and JD Supra
¿Sabías que el IRS está Involucrado en la Investigación y el Enjuiciamiento del Soborno?
En 1977, los Estados Unidos promulgó la Ley de Prácticas Corruptas en el Extranjero (FCPA). El FCPA prohíbe una oferta, pago, promesa o la autorización de un pago de dinero o cualquier cosa de valor (también conocido como soborno) a
- Foodman website and JD Supra
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El Cumplimiento No Debe Estar “Sub-Financiado”
Blog | January 2021Los profesionales de cumplimiento continúan protegiendo a
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FinCEN Proporciona Una Bienvenida Aclaración a la Sección 314(b)
Blog | January 2021La Sección 314(b) del Acta Patriota de
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Comisionado del IRS envía un Mensaje Importante a los Contribuyentes de Altos Ingresos que No Declaran
Blog | January 2021El 3 de diciembre del 2020, el
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FinCEN provides a Section 314(b) welcomed clarification
Blog | January 2021Section 314(b) of the USA PATRIOT Act
