How A Defendant Won The Lottery!

January 2017

The decision to hire a Forensic Accountant can be like buying a lottery ticket. Not all Forensic Accountants are equal. Not all possess the characteristics and critical success factors of an effective Forensic Accountant, such as being able to “see

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Are Forensic Accountants an Attorney’s Silver Bullet?

January 2017

From the art of interviewing, to recognizing mathematical irregularities, and following the money, Forensic Accountants are a proven invaluable tool for Attorneys and their clients. “Finding” the money combines the skill set of a financial investigator with the experience of

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FBI Is Focused On Professional Service Providers

January 2017

James C. Barnacle, Chief of the Money Laundering Unit in the Financial Crimes Section, Criminal Investigation Division, of the FBI recently stated that there is a RENEWED emphasis on investigations targeting “ money laundering” middlemen, also known as third-party facilitators.

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Bankers, Do your US Clients tell you everything that you need to know?

January 2017

Given the information publicly revealed by “Panama Papers”, and recent IRS reminders to out-of-compliance US Taxpayers to come into full compliance with their federal tax obligations, it is critical that Bankers and Financial Institutions educate their clients regarding banking industry

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¿Sabe usted el propósito de los Procedimientos de Presentación de Cumplimiento Racionalizados?

December 2016

Procedimientos Racionalizados de Presentación de Cumplimiento (Streamlined Filing Compliance Procedures) es una de las opciones disponibles para los contribuyentes Estadounidenses con activos e ingresos financieros extranjeros no autoreportados. Está destinado a los contribuyentes que han actuado no-intencionalmente. El Proceso está

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Do you know the purpose of the Streamlined Filing Compliance Procedures?

December 2016

Streamlined Filing Compliance Procedures (Streamlined) is one of the options available for US Taxpayers with unreported foreign financial assets and income. It is intended for the Taxpayers that have acted non-willfully. The Streamlined process is available to US individual Taxpayers

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¿Sabe usted por qué y cómo entrar en el Programa de Divulgación Voluntaria de Cuentas en el Extranjero (OVDP)?

December 2016

A través del Programa de Divulgación Voluntaria de Cuentas en el Extranjero (OVDP – Offshore Voluntary Disclosure Program), el IRS permite a los Contribuyentes que no están en cumplimiento intentionalmente revelar las cuentas en el extranjero no declaradas y los

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Do you know why and how to make an Offshore Voluntary Disclosure?

December 2016

Through its Offshore Voluntary Disclosure Program (OVDP), IRS permits noncompliant taxpayers to disclose Willfully unreported offshore accounts and related income. The “key” word for OVDP is Willful. Unlike the Streamlined Filing Compliance Procedures, program which is intended for Taxpayers that

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Claiming Vehicle Expenses… Keep a Record!

November 2016

Recently, a CPA lost his own business automobile deduction case in the U.S. Tax Court. The CPA had deducted business automobile expenses based on calculations from an after the fact MapQuest and not a contemporaneous diary or log. Tax court

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Are Cyber Thieves Compromising E-Mail? .. YES!

November 2016

Recently FinCEN issued Advisory (FIN-2016-A003) regarding e-mail compromise schemes that defraud Financial Institutions by deceiving them into conducting wire transfers that result in misappropriated customers funds.  The cyber-criminals are “impersonating” victims, and submitting what seem to be legitimate wire transfers

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