The “J5” is on to Cryptocurrencies
The Organisation 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 known as
- JD Supra
Did you know that GTO’s have a $300,000 Threshold?
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
- JD Supra
Gatekeepers are under a lot of Stress!
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/
- JD Supra
What is a Virtual Currency Taxable event?
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
- JD Supra
Pasaportes Estadounidenses: Los Contribuyentes Deben Actuar Antes De Que El IRS Notifique Al Departamento De Estado
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
- JD Supra
¡Los inversionistas de Moneda Virtual tienen muchas Responsabilidades!
Para propósitos de los Impuestos Federales de la Renta de los EE.UU, la Moneda Virtual (MV) se trata como “propiedad” (property). Como resultado, un inversionista de MV debe vigilar muy de cerca las posibles ganancias netas de capital a corto
- JD Supra
AICPA steps up to IRS to recommend that IRS provide Virtual Currency Clarity
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/
- JD Supra
LAW ENFORCEMENT and OTHERS DISSAPOINTED with ULTIMATE BENEFICIAL OWNERSHIP DRAFT LEGISLATION
There is a Bill (H.R. 6068), originally drafted on November 14, 2017, called the Counter Terrorism and Illicit Finance Act (CTIFA). The Bill intended to propose a substantial overhaul to the Bank Secrecy Act (BSA). https://www.jdsupra.com/legalnews/law-enforcement-and-others-dissapointed-87996/
- JD Supra
When Bank Account Activity is not Consistent with the Customer’s Business
According to the Bank Secrecy Act (BSA), the Financial Crimes Enforcement Network (FinCEN) states that the main focus for Financial Institution ought to be on the reporting of suspicious activities. https://www.jdsupra.com/legalnews/when-bank-account-activity-is-not-90801/
- JD Supra
El IRS está pendiente al Cripto
El Jefe de Investigación Criminal del IRS, Don Fort, declaró recientemente: “Es posible utilizar Bitcoin y otras Criptomonedas de la misma manera que las cuentas bancarias extranjeras para facilitar la evasión de impuestos”. https://www.jdsupra.com/legalnews/el-irs-esta-pendiente-al-cripto-98046/
- JD Supra
¿Quién monitorea los “wallets” de las Monedas Virtuales?
Los inversionistas de la Moneda Virtual (MV) utilizan los servicios de plataformas en línea “seguros” para comprar, vender, transferir y almacenar la MV. Los proveedores de estos servicios se conocen como “wallets, billeteras o monederos web u on-line” y también
- JD Supra
Did you know that IRS is running 35 Campaigns?
In January 2017, the IRS Large Business and International Division initially announced the launch of a “compliance campaign process” in which IRS identifies compliance issues that present risk and require a response in the form of one or multiple treatment
- JD Supra
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