The Internal Revenue Service today announced the opening of a new online registration system for financial institutions that need to register with the IRS under the Foreign Account Tax Compliance Act (FATCA). Financial institutions that must register with the IRS to meet their FATCA obligations can now begin the process of registering by creating an…
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Do you think FATCA caused the number of FBARs filed to Double?
Are the increase in FBAR Filing a Result of : FATCA? John Doe Summons UBS, Credit Suisse, Etc? Swiss Banks Loosing Their Anonymity? Criminal Prosecution of Taxpayer & Their Advisors for Un Declared Accounts? All of the above? Need FATCA Advice? Contact the Tax Lawyers At Marini & Associates, P.A. For a FREE Tax…
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After 4 Years of IRS Audits, Fl. Business Man Pays $37MM & is Sentenced to 10 Yrs in Prison.
John D. Stanton III stalled an Internal Revenue Service audit for four years, promising he would submit corporate tax returns for his company while secretly diverting tens of millions of dollars to himself.“You defrauded the government out of millions of dollars. Your purposely evaded the IRS,” U.S. District Judge Virginia M. Hernandez Covington told the…
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Bitcoin – The new VIrtual Tax-Haven?
Some experts think the digital currency Bitcoin is about to be regulated by the US authorities, who suspect it is being used to evade taxes. The Treasury unit called FinCEN, the Financial Crimes Enforcement Network, already has rules about Bitcoin. The IRS is likely to follow. FinCEN says Bitcoin exchanges and Bitcoin miners should register as Money…
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