Articles - Page 43 of 62 - Foodman CPAs and Advisors

How A Defendant Won The Lottery!

January 2017

The decision to hire a Forensic Accountant can be like buying a lottery ticket. Not all Forensic Accountants are equal. Not all possess the characteristics and critical success factors of an effective Forensic Accountant, such as being able to “see

JD Supra

Are Forensic Accountants an Attorney’s Silver Bullet?

January 2017

From the art of interviewing, to recognizing mathematical irregularities, and following the money, Forensic Accountants are a proven invaluable tool for Attorneys and their clients. “Finding” the money combines the skill set of a financial investigator with the experience of

JD Supra

FBI Is Focused On Professional Service Providers

January 2017

James C. Barnacle, Chief of the Money Laundering Unit in the Financial Crimes Section, Criminal Investigation Division, of the FBI recently stated that there is a RENEWED emphasis on investigations targeting “ money laundering” middlemen, also known as third-party facilitators.

JD Supra

Is the IRS Wealth Squad After You? Here Are Some Triggers

1/12/17

Is the IRS Wealth Squad After You? Here Are Some Triggers was published by the DBR.

Daily Business Review

Bankers, Do your US Clients tell you everything that you need to know?

January 2017

Given the information publicly revealed by “Panama Papers”, and recent IRS reminders to out-of-compliance US Taxpayers to come into full compliance with their federal tax obligations, it is critical that Bankers and Financial Institutions educate their clients regarding banking industry

JD Supra

Do you know the purpose of the Streamlined Filing Compliance Procedures?

December 2016

Streamlined Filing Compliance Procedures (Streamlined) is one of the options available for US Taxpayers with unreported foreign financial assets and income. It is intended for the Taxpayers that have acted non-willfully. The Streamlined process is available to US individual Taxpayers

JD Supra

Do you know why and how to make an Offshore Voluntary Disclosure (OVDP)?

December 2016

Through its Offshore Voluntary Disclosure Program (OVDP), IRS permits noncompliant taxpayers to disclose Willfully unreported offshore accounts and related income. The “key” word for OVDP is Willful. Unlike the Streamlined Filing Compliance Procedures, program which is intended for Taxpayers that

JD Supra

When FATCA and Tax Amnesty Programs intersect, will it be too late for US Taxpayers?

December 2016

Foreign Financial Institutions (FFIs) and host country tax authorities have provided IRS with a second round of information reports on financial accounts held by US Taxpayers. This exchange of information is automated and standardized among Government Tax Authorities and IRS,

JD Supra

Asset misappropriation – investigating people and money?

November 2016

Forensic accounting has been described as an “art and science” that investigates people and money. Forensic accountants are known for tracing funds (following the money), uncovering hidden assets and educating involved parties as to potential damages. In simple words, a

JD Supra

Claiming Vehicle Expenses… Keep a Record!

November 2016

Recently, a CPA lost his own business automobile deduction case in the U.S. Tax Court. The CPA had deducted business automobile expenses based on calculations from an after the fact MapQuest and not a contemporaneous diary or log. Tax court

JD Supra

Are Cyber Thieves Compromising E-Mail? .. YES!

November 2016

Recently FinCEN issued Advisory (FIN-2016-A003) regarding e-mail compromise schemes that defraud Financial Institutions by deceiving them into conducting wire transfers that result in misappropriated customers funds. The cyber-criminals are “impersonating” victims, and submitting what seem to be legitimate wire transfers

JD Supra

Do you have a FRAUD RISK CHECKUP LIST?

November 2016

Managing fraud risk proactively is imperative in today’s transparent world. It is not only about protecting against financial losses commonly associated with fraud. It is also about surviving reputational risk. An example of reputational risk is the recent Wells Fargo