201907.30
2

FATCA Canada – Is the CRA still Enforcing IRS FATCA Compliance?

FATCA Canada – Is the CRA still Enforcing IRS FATCA Compliance? For Americans living in Canada and concerned about the IRS and FATCA Reporting of Canadian Accounts and Assets, the noose has just gotten a bit tighter — due in part to a recent court holding in Canada. A Judge in the Federal Court of…

201907.28
3

International Tax Shysters, Scam Artists & Charlatans (2019 Update)

International Tax Shysters, Scam Artists & Charlatans (2019 Update) The Internet is a curious place.  While it can be a wonderful place to obtain information on topics you can’t find anywhere else — there is also a dark underbelly that you need to be aware of as well — even in the world of tax…

201907.22
1

FinCEN Penalizes Crypto P2P Currency Exchanger for Non Compliance

FinCEN Penalizes Crypto P2P Currency Exchanger for Non Compliance Cryptocurrency may be subject to various different IRS and other laws, rules and regulations — depending on who is handling the virtual currency — and what is the nature of the transaction is And, while the IRS requires investors, sellers, and collectors of cryptocurrency to pay…

201907.14
0

IRS FFI FATCA Compliance Campaign & Form 8966 – Offshore IRS

IRS FFI FATCA Compliance Campaign & Form 8966 – Offshore IRS At a recent tax conference, the IRS stressed the fact that offshore compliance is still a priority.  And, that the IRS would soon be adding to its already long list of compliance campaigns, with a new campaign aimed at Foreign Financial Institutions (FFI) and…

201907.08
2

5471 Enforcement – Are You at Risk for Higher Fines & Penalties?

5471 Enforcement – Are You at Risk for Higher Fines & Penalties? When a U.S. Person has a foreign corporation, they may have a U.S. Reporting Requirement with the IRS, on Form 5471.  Unlike other international forms, the IRS has made enforcement of 5471 form reporting a key enforcement priority. 5471 Enforcement When a person…