Los contribuyentes que intencionalmente han no han cumplido con obligaciones tributarias o relacionadas con impuestos pueden resolver su incumplimiento y limitar su exposición a un proceso penal presentando una solicitud a la...more
Taxpayers that have willfully failed to comply with tax or tax-related obligations may be able to resolve their non-compliance and limit their exposure to criminal prosecution by filing an application to the IRS Voluntary...more
El 11/04/24, el IRS concluyó su Lista de la Docena Sucia de 2024 con una “advertencia a los contribuyentes sobre los promotores que venden estrategias fiscales falsas y esquemas extraterritoriales fraudulentos diseñados para...more
5/20/2024
/ Charitable Donations ,
Digital Assets ,
FATCA ,
Foreign Assets ,
Foreign Financial Institutions (FFI) ,
IRS ,
Offshore Funds ,
Tax Avoidance ,
Tax Liability ,
Tax Returns ,
Tax Treaty
On 4/11/24, the IRS wrapped up its 2024 Dirty Dozen List with a “warning to taxpayers regarding promoters selling bogus tax strategies and fraudulent offshore schemes designed to reduce or avoid taxes altogether”. Tax...more
5/20/2024
/ Charitable Donations ,
Digital Assets ,
FATCA ,
Foreign Assets ,
Foreign Financial Institutions (FFI) ,
IRS ,
Offshore Funds ,
Tax Avoidance ,
Tax Liability ,
Tax Returns ,
Tax Treaty
Las explicaciones generales de la Administración de Biden sobre las Propuestas de Ingresos de la Administración para el año fiscal 2024 analizan la propuesta de informes de intercambio de información por parte de...more
The Biden Administration General Explanations of the Administration’s Revenue Proposals for Fiscal Year 2024 discusses the proposal for exchange of information reporting by financial institutions and offshore digital asset...more
On April 5, 2023, the IRS wrapped up its Dirty Dozen 2023 list – earlier than the release of the Dirty Dozen 2022 list which was published on June 10, 2022. According to the IRS, the Dirty Dozen represents the worst of the...more
5/3/2023
/ Charitable Donations ,
Charitable Remainder Trust ,
Digital Assets ,
Employee Retention ,
Fuel Tax ,
IRS ,
Offer-in-Compromise ,
Offshore Funds ,
Phishing Scams ,
Social Media ,
Tax Avoidance ,
Tax Credits ,
Tax Preparers ,
Third-Party
El IRS concluyó su lista de Estafas de la Docena Sucia (“Dirty Dozen”) del 2022 recomendando a los contribuyentes a estar atentos y evitar ser engañados por las estrategias de evasión fiscal....more
10/5/2022
/ Cryptocurrency ,
Digital Assets ,
IRS ,
Offshore Funds ,
Scams ,
Tax Avoidance ,
Tax Court ,
Tax Deductions ,
Tax Evasion ,
Tax Fraud ,
Tax Scams
The TIGTA Report dated April 7, 2022 details six recommendations for additional actions needed to address Non-Filing and Non-Reporting Compliance Under FATCA. ...more
For the first time, a bipartisan group of U.S. lawmakers has proposed legislation that would require trust companies, lawyers, accountants, notaries, real estate agents, dealers in precious metals and stones, art dealers,...more
12/14/2021
/ Anti-Money Laundering ,
Financial Regulatory Reform ,
Financial Services Industry ,
High Net-Worth ,
Money Laundering ,
Offshore Funds ,
Pandora Papers ,
Popular ,
Proposed Legislation ,
Tax Evasion ,
White Collar Crimes
OECD Report suggests compliance regime elements for FIs and Stakeholders -
Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standards (CRS) stakeholders are key to financial institutions’ (FIs) successful...more
Tax administrations can use a combination of detective, preventative and corrective measures to assess and treat Foreign Account Tax Compliance (FATCA) and Common Reporting Standard (CRS) non-compliance, according to the...more
La diferencia entre el monto del impuesto adeudado por los Contribuyentes para un año determinado y el monto que realmente se paga oportunamente para ese mismo año se conoce como “Brecha Fiscal Bruta” (“Tax Gap”). El IRS...more
The difference between the amount of tax owed by Taxpayers for a given year and the amount that is actually paid timely for that same year is known as the “Gross Tax Gap”. The IRS looks at this number as an estimate of the...more
IRS is interested in U.S. Taxpayer financial accounts everywhere in the world. If the IRS learns that a Taxpayer has undisclosed reportable accounts or income before a US Taxpayer reports them, the Taxpayer can face serious...more
4/22/2021
/ FBAR ,
Filing Requirements ,
Foreign Bank Accounts ,
Income Taxes ,
IRS ,
Offshore Funds ,
Reporting Requirements ,
Tax Evasion ,
Tax Liability ,
Tax Planning ,
Tax Returns
FATCA se convirtió en ley en Marzo del 2010 con el objetivo de combatir el incumplimiento de la declaración del impuesto sobre la renta internacional por parte de ciudadanos estadounidenses y residentes contribuyentes...more
On November 5, 2020, the IRS removed the Delinquent Information Submission Procedure Program from its Offshore Compliance Options Menu. Before the removal of this program, a US Taxpayer could file a “delinquent”...more
La participación en FATCA no es una opción, llegó para quedarse y es parte de una iniciativa global. FATCA es complicado, y para los banqueros, ha implicado aprender nueva terminología y comprender en exceso de un mil de...more
Participation in FATCA is not an option, it is here to stay, and it is part of a global initiative. FATCA is complicated, and for the bankers, it has implied learning new terminology and understanding thousands of pages of a...more
The U.S. Department of Justice (DOJ) 39 count indictment charging Robert T. Brockman, with tax evasion, wire fraud, money laundering, and other offenses, demonstrates that the DOJ is committed to the investigation and...more
11/3/2020
/ Criminal Investigations ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Indictments ,
IRS ,
Money Laundering ,
Offshore Funds ,
Popular ,
Tax Evasion ,
Tax Fraud ,
Voluntary Disclosure ,
White Collar Crimes ,
Wire Fraud
Under FATCA, an Event of Default (EOD) will occur if an Entity fails to perform required material obligations with respect to the due diligence, verification, withholding, or reporting FATCA requirements, or if the IRS...more
Bajo FATCA, un Evento de Incumplimiento (“Event of Default o EOD”) ocurrirá si una Entidad no cumple con las obligaciones materiales requeridas con respecto a los requisitos de diligencia debida, verificación, retención o...more
En noviembre de 2019, el Consejo Asesor del Servicio de Impuestos Internos (“IRSAC”) publicó su Informe Público. El propósito de IRSAC es servir como un cuerpo asesor del Comisionado del IRS y organizar un foro público entre...more
Little is written regarding FATCA and U.S. Financial Institutions (FI). That said, U.S. FIs have FATCA responsibilities. In the absence of permitted exceptions, FATCA requires U.S. FIs that make payments of most types of...more
There was an IRS termination of the Offshore Voluntary Disclosure Program (OVDP) on September 28, 2018. On November 20, 2018, following the OVDP notice of termination, there was a release of a Memorandum announcing the...more