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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Do you have a FRAUD CHECKUP LIST?

November 2016

Managing fraud risk proactively is imperative in today’s transparent world.   It is not only about protecting against financial losses commonly associated with fraud.  It is also about surviving reputational risk.  An example of reputational risk is the recent Wells Fargo

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Not Filed Your Tax Return?

There are various reasons why a Taxpayer might not timely file a Tax Return. If you don’t file on time and you owe money to IRS, you will find yourself paying more than merely tax. IRS charges penalties and interest associated

What You Need to Know About IRS Outstanding Inactive Tax Receivables

October 2016

Legislation enacted in 12/15 (FAST ACT – Fixing America’s Surface Transportation Act)) required IRS to utilize private debt collection agencies to collect inactive federal tax debts. Starting SPRING 2017, IRS will use private debt collectors to pursue overdue federal tax

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Global Radar’s CEO Commentary on De-Risking 101 Webinar

October

Global RADAR Exclusive: Industry Insider Simplifies De-Risking De-Risking is defined as a situation where financial institutions terminate or restrict business relationships with certain categories of customer. The concept of “De-Risking” as it pertains to the financial services landscape of the

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Do You Know About the 4 Scenarios in the IRS Collection Process?

August 2016

Do You Know About the 4 Scenarios in the IRS Collection Process

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Are you Eligible for an IRS Offer in Compromise?

August 2016

IRS has a program called Offer in Compromise (OIC) which allows eligible Taxpayers to settle a tax debt with IRS for less than the full amount owed.  Not all Taxpayers are eligible.    The OIC is not available to partnerships, corporations,

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