IRS is on to Self-Employed Taxpayers

March 2019

On February 14, 2019, the TREASURY INSPECTOR GENERAL FOR TAX ADMINISTRATION (TIGTA) released the  Report https://www.jdsupra.com/legalnews/irs-is-on-to-self-employed-taxpayers-46996/

  • JD Supra

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

March 2019

The Financial Crimes Enforcement Network (FinCEN) provided the banking industry certain “permanent” relief from collecting beneficial ownership information regarding certain accounts (Covered Products) that automatically “renew and rollover” https://www.jdsupra.com/legalnews/fincen-makes-permanent-decision-on-13302/

  • JD Supra

Are you at Risk for a Tax Time Surprise?

March 2019

There will be Taxpayers whose 2018 federal income tax withholding unexpectedly falls short of their tax liability for Tax Year 2018.  IRS states that https://www.jdsupra.com/legalnews/are-you-at-risk-for-a-tax-time-surprise-40953/

  • JD Supra

Streamlined Filing Program for U.S. Taxpayers Residing Outside of the U.S. continues to be available but can be Discontinued at any time!

February 2019

After the closing of the Offshore Voluntary Disclosure Program (OVDP) – which ended on September 28, 2018, the US Department of Treasury released a https://www.jdsupra.com/legalnews/streamlined-filing-program-for-u-s-19184/

  • JD Supra

Disclosing Voluntarily to the IRS to potentially avoid Criminal Prosecution is still an Option for Taxpayers, but with some changes going forward……

February 2019

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 of https://www.jdsupra.com/legalnews/disclosing-voluntarily-to-the-irs-to-19065/

  • JD Supra

Actualización de noticias sobre impuestos para los Contribuyentes Estadounidenses que viven en el Extranjero

February 2019

La capacidad del IRS para negar o revocar los Pasaportes de los Contribuyentes con “deuda tributaria gravemente morosa mayor de https://www.jdsupra.com/legalnews/actualizacion-de-noticias-sobre-28308/

  • JD Supra

¿Es hora de que las Instituciones Financieras Extranjeras contraten Representación ante el IRS?

January 2019

El Oficial Responsable (“RO”) de una Institución Financiera Extranjera Participante (“PFFI”) o una Institución Financiera Extranjera (“FFI”) Modelo 2 de Reporte estuvo obligado a https://www.jdsupra.com/legalnews/es-hora-de-que-las-instituciones-15591/

  • JD Supra

IRS Accuracy Related Penalties is the number one most litigated tax issue

January 2019

The National Taxpayer Advocate 2017 Report to Congress states that  https://www.jdsupra.com/legalnews/irs-accuracy-related-penalties-is-the-17644/

  • JD Supra

What is new in a “nutshell” for FORM 1040 for TAX YEAR 2018

January 2019

For Tax Year 2018, Taxpayers will use the new and re-designed Form 1040    https://www.jdsupra.com/legalnews/what-is-new-in-a-nutshell-for-form-1040-50654/

  • JD Supra

Four LATAM Countries will work as a TEAM to TACKLE TAX EVASION, Corruption and Other Financial Crimes

January 2019

The Global Forum and the Organization for Economic Cooperation and Development (OECD) oversee the internationally agreed standards of   https://www.jdsupra.com/legalnews/four-latam-countries-will-work-as-a-52526/

  • JD Supra

Beware of the IRS FATCA Filing Accuracy Campaign

January 2019

On October 30, 2018, the IRS Large Business and International division (LBI) announced the approval of a compliance campaign regarding  https://www.jdsupra.com/legalnews/beware-of-the-irs-fatca-filing-accuracy-37083/

  • JD Supra