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Reporting Requirements Foreign Financial Institutions (FFI) Tax Evasion

Allen Barron, Inc.

The IRS Digital Asset Broker Reporting Requirements

Allen Barron, Inc. on

The IRS digital asset broker reporting requirements were finalized earlier this year and impact all digital asset (i.e., cryptocurrency and Non-Fungible Tokens or NFTs) transactions beginning January 1, 2025. What do...more

Allen Barron, Inc.

Are you Thinking of Moving to Another Country - A Few Things to Consider

Allen Barron, Inc. on

Are you thinking of moving to another country? Over the past decade, a record number of U.S. citizens have decided to live and work abroad. There are many issues you may not have considered that will impact any decision to...more

Foodman CPAs & Advisors

Banquero Irá a la Cárcel por FATCA

El 11 de Noviembre del 2018, el Departamento de Justicia de los EE. UU. (“DOJ”) informó que el banquero Adrian Baron, el ex Director de Negocios y ex Director Ejecutivo de Loyal Bank Ltd, un banco “off-shore” con oficinas en...more

Foodman CPAs & Advisors

Banker will go to jail over FATCA

On September 11, 2018, the US Department of Justice (DOJ) reported that banker Adrian Baron, the former Chief Business Officer and former Chief Executive Officer of Loyal Bank Ltd, an off-shore bank with offices in Budapest,...more

Foodman CPAs & Advisors

Do I have to file an FBAR if I own Cryptocurrency? Not clear!

Both the American Bar Association (ABA) and the American Institute of Certified Public Accountants (AICPA) have written letters (3/19/18 for the ABA and 5/30/18 for the AICPA) to the IRS to obtain further definition and...more

Jones Day

First Conviction in the U.S. for FATCA Violations

Jones Day on

An investigation of Belize-based stockbrokers recently led to the first FATCA conviction since its enactment in 2010. The former head of an offshore bank pled guilty to conspiracy to defraud the United States by...more

Ballard Spahr LLP

DOJ Secures First Ever Conviction for Violating FATCA

Ballard Spahr LLP on

The Department of Justice (“DOJ”) has secured its first conviction ever under the Foreign Account Tax Compliance Act, or FATCA, through the guilty plea of Adrian Baron, a former executive of Loyal Bank Ltd., a bank with...more

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