Articles - Page 32 of 62 - Foodman CPAs and Advisors

An IRS Summons Is a Powerful Tool That Can Even Reach Law Firms’ Escrow Accounts

August 31, 2018

An IRS Summons Is a Powerful Tool That Can Even Reach Law Firms’ Escrow Accounts was published by the Daily Business Review on 8/31/18.

Daily Business Review

FATCA Is Being Enforced Despite Hiccups And TIGTA Report!

August 2018

FATCA Is Being Enforced Despite Hiccups And TIGTA Report! was published by JD Supra on 8/28/18. On July 5, 2018, the Treasury Inspector General for Tax Administration (TIGTA) issued a report https://www.treasury.gov/tigta/auditreports/2018reports/201830040fr.pdf titled: “Despite Spending Nearly $380 Million, the Internal Revenue Service

JD Supra

The “J5” is on to Cryptocurrencies

August 2018

The “J5” is on to Cryptocurrencies was published by JD supra on 8/28/18. The Organisation for Economic Co-operation and Development (OECD) issued a “call to action” for countries to do more to tackle enablers of tax crimes. The result of

JD Supra

Did you know that GTO’s have a $300,000 Threshold?

August 2018

Did you know that GTO’s have a $300,000 Threshold? was published by JD Supra on 8/22/18. A GTO is a Geographic Targeting Order issued by the Financial Crimes Enforcement Network (FinCEN) under the Bank secrecy Act (BSA) for a specific

JD Supra

Gatekeepers are under a lot of Stress!

August 2018

Gatekeepers are under a lot of Stress! was published by JD Supra on 8/22/18. The FATF is an independent inter-governmental entity that develops policies for protection of our global financial system from money laundering (AML), terrorist financing and financing of

JD Supra

What is a Virtual Currency Taxable event?

August 2018

What is a Virtual Currency Taxable event? was published by JD Supra on 8/22/18. There continues to be limited Virtual Currency (VC) guidance from the US Treasury and the IRS and VC investors ought to proceed cautiously. IRS continues to

JD Supra

FATCA Registration System Is Up And Running. Are You Ready?

August 2018

FATCA Registration System Is Up And Running. Are You Ready? was published by JD Supra on 8/14/18. On 7/31/18, IRS released notification (2018-9) to inform that the Certification of Pre-Existing Accounts (COPA) and Periodic Certification Process (relates to an Entity’s

JD Supra

US Passports: Taxpayers Should Act Before IRS Notifies The State Department

August 2018

US Passports: Taxpayers Should Act Before IRS Notifies The State Department was published by JD Supra on 8/7/18. US Taxpayers that come forward to the IRS to arrange payment of their seriously delinquent tax debt before the IRS notifies the

JD Supra

Don’t Run Afoul of U.S. Sanctions

August 2018

Don’t Run Afoul of U.S. Sanctions was published by the South Florida Legal Guide.

South Florida Legal Guide Supplement Miami Herald

AICPA steps up to IRS to recommend that IRS provide Virtual Currency Clarity

July 2018

AICPA steps up to IRS to recommend that IRS provide Virtual Currency Clarity was published by JD Supra on 7/31/18. On 5/30/18, the American Institute of CPAs (AICPA) sent a letter (https://www.aicpa.org/content/dam/aicpa/advocacy/tax/downloadabledocuments/20180530-aicpa-comment-letter-on-notice-2014-21-virtual-currency.pdf) to the IRS presenting the AICPA’s updated recommendation to

JD Supra

LAW ENFORCEMENT and OTHERS DISSAPOINTED with ULTIMATE BENEFICIAL OWNERSHIP DRAFT LEGISLATION

July 2018

LAW ENFORCEMENT and OTHERS DISSAPOINTED with ULTIMATE BENEFICIAL OWNERSHIP DRAFT LEGISLATION was published by JD Supra on 7/31/18. There is a Bill (H.R. 6068), originally drafted on November 14, 2017, called the Counter Terrorism and Illicit Finance Act (CTIFA). The

JD Supra

Official Hope for the De-Risked?

July 2018

Official Hope for the De-Risked? was published by JD Supra on 7/25/18. Deficiencies in Anti-Money Laundering (AML) frameworks and policies have triggered a significant number of Financial Institutions (FIs) to de-risk. The FIs that de-risk as a solution to AML