News Archives - Page 45 of 55 - Foodman CPAs and Advisors

Did you know that Casinos are Financial Institutions?

June 2018

Did you know that Casinos are Financial Institutions? JD Supra 7/12/18. Since 1985, Casinos that have Gross Annual Gaming Revenues in excess of $1,000,000 are considered to be Financial Institutions and are subject to the requirements of the Bank Secrecy

JD Supra

I didn’t know that I was American

June 2018

I didn’t know that I was American – JD Supra 6/5/18. There are Individuals out there that are US Citizens (“Americans”) and they are not aware of it. Under US Tax Law, these individuals have US tax reporting responsibilities and

JD Supra

“File before the IRS discovers that you failed to choose the Exclusion”: words of wisdom to US Taxpayers Living Abroad

June 2018

“File before the IRS discovers that you failed to choose the Exclusion”: words of wisdom to US Taxpayers Living Abroad – JD Supra 6/1/18. If you are a US citizen or a Permanente Resident and you live abroad, you are

JD Supra

IRS issues a “Tax Book”

May 2018

IRS issues a “Tax Book” was published by JD Supra on 6/1/18. During 2017, 245 million tax returns were processed by the IRS and more than $3.4 trillion in federal taxes was paid by individuals and businesses to the US

JD Supra

A Quick Guide to the Suspicious Activity Report (SAR)

May 2018

A Quick Guide to the Suspicious Activity Report (SAR) was published by JD Supra on 5/22/18. The Suspicious Activity Report (SAR) was originally created by five federal financial supervisory agencies (Federal Reserve Board, Office of the Comptroller of the Currency,

JD Supra

Financial Planning Season: A way to evaluate your Provider

May 2018

Financial Planning Season: A way to evaluate your Provider was published by JD Supra on 5/22/18. After the tax filing season, many Taxpayers realize that this is the right time to think about financial planning; given the fact that their

JD Supra

Make your connection with the “Top 10” Tax Cut and Jobs Act Changes and be prepared for 2019!

May 2018

Make your connection with the “Top 10” Tax Cut and Jobs Act Changes and be prepared for 2019! was published by JD Supra on 5/22/18. Here are the changes from the Tax Cut and Jobs Act (TCJA) that will impact

JD Supra

FATCA is still Standing!

May 2018

FATCA is still Standing! was published by JD Supra on 5/17/18. Tax Reform came and went and FATCA is still standing. While U.S. Corporations are now moving to a Territorial tax system, Individual U.S. Taxpayers living abroad ARE STILL REQUIRED

JD Supra

Who will have the last word with Virtual Currency? IRS, FinCEN, SEC, OFAC or the CFTC?

May 2018

Who will have the last word with Virtual Currency? IRS, FinCEN, SEC, OFAC or the CFTC? was published by JD Supra on 5/15/18. Virtual Currency (VC) investors are currently investing without clarity regarding which Government Agency(s) has the final word

JD Supra

Everyone wins when accepting Virtual Currency as Payment…

May 2018

Everyone wins when accepting Virtual Currency as Payment… was published by JD Supra on 5/8/18. Accepting Virtual Currency (VC) as payment for goods and services is growing. States like Arizona and Georgia have introduced bills that would allow Taxpayers in

JD Supra

Who monitors digital currency wallets?

May 2018

Who monitors digital currency wallets? was published by JD Supra on 5/8/18. Investors in Virtual Currency (VC) utilize the services of on-line “secure” platforms for buying, selling, transferring, and storing VC. The providers of these services are known as web-wallets

JD Supra

Here is what you need to know about the FinCEN’s Final CDD Rule effective May 11, 2018

April 2018

Here is what you need to know about the FinCEN’s Final CDD Rule effective May 11, 2018 was published by JD Supra on 5/1/18. Covered Financial Institutions (CFI) have until May 11, 2018 to implement and comply with the Financial