IRS is on to Self-Employed Taxpayers
IRS is on to Self-Employed Taxpayers was published by JD Supra on 3/19/19. On February 14, 2019, the TREASURY INSPECTOR GENERAL FOR TAX ADMINISTRATION (TIGTA) released the Report “Expansion of the Gig Economy Warrants Focus on Improving Self-Employment Tax Compliance”. The report focuses on Taxpayers that are Self-Employed and participate in the Sharing Economy (Gig […]
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
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 banking industry certain “permanent” relief from collecting beneficial ownership information regarding certain accounts (Covered Products) […]
Are you at Risk for a Tax Time Surprise?
Are you at Risk for a Tax Time Surprise? was published by JD Supra on 3/5/19. There will be Taxpayers whose 2018 federal income tax withholding unexpectedly falls short of their tax liability for Tax Year 2018. IRS states that there are Taxpayers at most risk of having too little tax withheld, especially if these […]
Streamlined Filing Program for U.S. Taxpayers Residing Outside of the U.S. continues to be available but can be Discontinued at any time!
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) – which ended on September 28, 2018, the US Department of Treasury released a Memorandum on […]
CRS-FATCA – What you need to know TODAY
CRS-FATCA – What you need to know TODAY is a Video featuring Stanley Foodman and Cathy McGrail from Foodman CPAs & Advisors regarding FATCA and CRS released on 2/20/19.
Disclosing Voluntarily to the IRS to potentially avoid Criminal Prosecution is still an Option for Taxpayers, but with some changes going forward……
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 Program (2014 OVDP). The 2014 OVDP (and prior 2011 and 2009 programs) had the purpose […]
Actualización de noticias sobre impuestos para los Contribuyentes Estadounidenses que viven en el Extranjero
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 mayor de $50,000” es un problema abrumante que actualmente enfrentan los Contribuyentes de los Estados […]
¿Es hora de que las Instituciones Financieras Extranjeras contraten Representación ante el IRS?
¿Es hora de que las Instituciones Financieras Extranjeras contraten Representación ante el IRS? was published by JD Supra on 2/5/19. El Oficial Responsable (“RO”) de una Institución Financiera Extranjera Participante (“PFFI”) o una Institución Financiera Extranjera (“FFI”) Modelo 2 de Reporte estuvo obligado a presentar la Certificación FATCA de la FFI de las Cuentas Preexistentes […]
IRS Accuracy Related Penalties is the number one most litigated tax issue
IRS Accuracy Related Penalties is the number one most litigated tax issue was published by JD Supra on 1/29/19. The National Taxpayer Advocate 2017 Report to Congress states that the Accuracy-Related Penalty under Internal Revenue Code Section 6662 remains the number one most litigated tax issue and has been over the last four years. In the […]
What is new in a “nutshell” for FORM 1040 for TAX YEAR 2018
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 Taxpayers will only need to file Form 1040 and none of the NEW NUMBERED SCHEDULES, […]
Four LATAM Countries will work as a TEAM to TACKLE TAX EVASION, Corruption and Other Financial Crimes
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 standards of tax transparency and exchange of information via the Common Reporting Standard (CRS). The […]
Beware of the IRS FATCA Filing Accuracy Campaign
Beware of the IRS FATCA Filing Accuracy Campaign was published by JD Supra on 1/23/19. On October 30, 2018, the IRS Large Business and International division (LBI) announced the approval of a compliance campaign regarding Foreign Financial Institution (FFI) and certain Non-Financial Foreign Entity reporting of foreign assets held by their U.S. account holders and substantial […]
