News Archives - Page 37 of 55 - Foodman CPAs and Advisors

Tax Scams put Taxpayers at Risk

July 2019

Tax Scams put Taxpayers at Risk was published by JD Supra on 7/9/19. The IRS produces a yearly list of Tax Scams known as the Dirty Dozen that Taxpayers may encounter. IRS reiterates that Tax Scams put Taxpayers at Risk

JD Supra

Penalty of $25,000 for Foreigners with a 25% ownership stake or control of a U.S. legal entity that fail to file Form 5472

July 2019

Penalty of $25,000 for Foreigners with a 25% ownership stake or control of a U.S. legal entity that fail to file Form 5472 was published by JD Supra on 7/9/19. Form 5472 is an Information Return of a 25% Foreign-Owned

JD Supra

Is There an Anti-Money Laundering (AML) Component to the Revision of the IRS EIN Process?

June 2019

Is There an Anti-Money Laundering (AML) Component to the Revision of the IRS EIN Process? was published by JD Supra on 6/25/19. An EIN is also known as a Federal Entity Tax Identification Number (EIN) and is used to identify

JD Supra

IRS can Prove that a Taxpayer Under-Reported Income

June 2019

IRS can Prove that a Taxpayer Under-Reported Income was published by JD Supra on 6/18/19. There are Taxpayers that understate income, overstate expenses and present fraudulent claims on their tax returns for credits and deductions. These Taxpayers run the risk

JD Supra

Taxpayers can be Embarrassed when IRS Contacts a Third-Party

June 2019

Taxpayers can be Embarrassed when IRS Contacts a Third-Party was published by JD Supra on 6/18/19. Under Internal Revenue Code (IRC), Subtitle F – Income Taxes, Chapter 78 – Discovery of Liability and Enforcement of Title, Subchapter A – Examination

JD Supra

Taxpayers that have VIRTUAL CURRENCY held in a Centralized Virtual Currency Exchange outside the U.S must file an FBAR and FORM 8938!

June 2019

Taxpayers that have VIRTUAL CURRENCY held in a Centralized Virtual Currency Exchange outside the U.S must file an FBAR and FORM 8938! was published by JD Supra on 6/11/19. On May 30, 2018, the AICPA (American Institute of Certified Public

JD Supra

Content Matters in a Suspicious Activity Report (SAR)

June 2019

Content Matters in a Suspicious Activity Report (SAR) was published by JD Supra on 6/4/19. The Suspicious Activity Report (SAR) was created by five federal financial agencies and the Treasury Department’s Financial Crimes Enforcement Network (FinCEN). The purpose of the

JD Supra

Varsity Blues, the “Charity” and how a Forensic Accountant can be a Silver Bullet!

May 2019

Varsity Blues, the “Charity” and how a Forensic Accountant can be a Silver Bullet! was published by JD Supra on 5/29/19. The forensic accounting skillset of FBI Special Agent, Mrs. Laura Smith, is receiving a lot of credit for her

JD Supra

¿Está su pasaporte en riesgo?

May 2019

Está su pasaporte en riesgo? was published by JD Supra on 5/21/19. Los Contribuyentes Estadounidenses con facturas de impuestos vencidas que han sido identificados por el IRS corren el riesgo de perder los privilegios de pasaporte de los EE. UU.

JD Supra

Is your Passport at Risk?

May 2019

Is your Passport at Risk? was published by JD Supra on 5/21/19. Certain US Taxpayers that have been identified by IRS with overdue tax bills maybe at risk of losing US passport privileges. IRS has been trying to encourage US

JD Supra

IRS: Las Cuentas Financieras “Offshore” NO pasarán Inadvertidas

May 2019

IRS: Las Cuentas Financieras “Offshore” NO pasarán Inadvertidas was published by JD Supra on 5/14/19. El 15 de marzo del 2019, el IRS informó que la ocultación de dinero o activos en cuentas extraterritoriales (“offshore”) no declaradas permanece en la

JD Supra

IRS: Offshore Financial Accounts will NOT go Unnoticed

May 2019

IRS: Offshore Financial Accounts will NOT go Unnoticed was published by JD Supra on 5/14/19. On March 15, 2019, IRS reported that hiding money or assets in unreported offshore accounts remains on the Internal Revenue Service’s “Dirty Dozen” list of