FATCA: How did things ever get so far? US diplomacy – an offer you can’t refuse

Is FATCA fair? How did this happen? Is offboarding Americans a good plan? Is FATCA good law? Can the cost of FATCA compliance be reduced? What is Mossack Fonseca alleged to have done?

Fraud, Money Laundering, Tax Evasion, Pump and Dump Stock schemes. Much of what the US DoJ already knows, Under-Cover Agents. You name it – it is there.

IRS Announces FATCA Compliance Campaigns

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FATCA Filing Accuracy

Practice Area: Withholding & International Individual Compliance

 

Lead Executive: John Cardone, director of Withholding & International Individual Compliance

 

The Foreign Account Tax Compliance Act (FATCA) was enacted in 2010 as part of the HIRE Act. The overall purpose is to detect, deter and discourage offshore tax abuses through increased transparency, enhanced reporting and strong sanctions. Foreign Financial Institutions and certain Non-Financial Foreign Entities are generally required to report the foreign assets held by their U.S. account holders and substantial U.S. owners under the FATCA. This campaign addresses those entities that have FATCA reporting obligations but do not meet all their compliance responsibilities. The Service will address noncompliance through a variety of treatment streams, including termination of the FATCA status.


 

Offshore Service Providers

Practice Area: Withholding & International Individual Compliance

 

Lead Executive: John Cardone, director of Withholding & International Individual Compliance

 

The focus of this campaign is to address U.S. taxpayers who engaged Offshore Service Providers that facilitated the creation of foreign entities and tiered structures to conceal the beneficial ownership of foreign financial accounts and assets, generally, for the purpose of tax avoidance or evasion. The treatment stream for this campaign will be issue-based examinations.

 

Talking crypto: Speed and costs reduction versus theft, poor security and criminal activity – Business Review

The potential of cryptocurrency to increase speed and reduce the cost of business is threatened by theft, poor security and criminal activity, according

Source: Talking crypto: Speed and costs reduction versus theft, poor security and criminal activity – Business Review