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Internal Revenue Service Tax Returns Anti-Money Laundering

The United States Internal Revenue Service is a bureau of the United States Department of the Treasury. The IRS is charged with collecting revenue and enforcing the Internal Revenue Code.  
Offit Kurman

Tracing Offshore Accounts in Divorce: How to Uncover Hidden Assets

Offit Kurman on

Offshore accounts are appealing to those trying to hide money because they offer banking secrecy in certain jurisdictions, lax reporting requirements compared to domestic accounts, and complex structures involving shell...more

Foodman CPAs & Advisors

NTA Addresses Overlap Reporting

On 1/8/25, the National Taxpayer Advocate (NTA) published its 2024 Annual Report to Congress and identified taxpayers’ problems and provided suggestions to further protect taxpayer rights and ease taxpayer burden. “By law,...more

Allen Barron, Inc.

A Foreign Trust Creates Complex IRS Reporting Requirements

Allen Barron, Inc. on

The IRS has clearly identified legitimate reasons why "U.S. Persons" would establish or maintain ownership in a foreign trust. However, a foreign trust creates complex IRS reporting requirements for US taxpayers who own a...more

Freeman Law

Do FBAR Penalties Survive Death? A Texas Court Says “Yes”

Freeman Law on

A federal district court in Texas recently took up an interesting FBAR issue: whether civil FBAR penalties survive death?  That is, if a taxpayer/account holder dies after the IRS assesses an FBAR penalty against them, do the...more

Perkins Coie

Blockchain Week in Review - May 2020 #3

Perkins Coie on

US Developments - Federal and State Regulatory Developments - OCC Announces a New Acting Comptroller of the Currency - On May 21, 2020, current Comptroller of the Currency Joseph M. Otting announced that he is stepping...more

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