News & Analysis as of September 19, 2024

Foreign Account Tax Compliance Act › Criminal Investigations

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The Foreign Account Tax Compliance Act is a United States federal statute enacted in 2010 as part of the Hiring Incentives to Restore Employment Act (HIRE Act). FATCA aims to improve compliance of U.S. taxpayers... more +

IRS using Data Analytics to Uncover Criminal Arrangements

Foodman CPAs & Advisors on 8/19/2019

IRS-Criminal Investigation (IRS-CI) is a federal agency department specifically authorized to investigate and prosecute federal income tax crimes. IRS-CI uses data analytics such as models, algorithms, and the millions of...more

Cross-Border Investigations Update - January 2019

Skadden, Arps, Slate, Meagher & Flom LLP on 1/7/2019

This issue of Skadden’s semiannual Cross-Border Investigations Update takes a close look at recent cases, regulatory activity and other key developments, including DOJ guidance on the use of corporate monitors in criminal...more

IRS Criminal Investigation Unit (IRS-CI) will find you!

Foodman CPAs & Advisors on 2/28/2017

Due to the Foreign Account Tax Compliance Act (FATCA) and the work of IRS special agents, international tax transparency is here. There is virtually nowhere to hide. On 1/18/17, the Department of Justice (DOJ) reported that...more

Do You Know What an IRS Criminal Investigation is?

Foodman CPAs & Advisors on 2/9/2017

The US taxes its citizens and permanent residents on their worldwide income regardless of where they live or how long they’ve lived outside of the US. There is only one other country in the world that operates like the US –...more

The High Cost of Being Noncompliant with the Internal Revenue Code

Holland & Knight LLP on 12/24/2016

The IRS currently offers the following five programs for noncompliant taxpayers: (i) the Offshore Voluntary Disclosure Program (OVDP), (ii) Streamlined Domestic Offshore Procedures, (iii) Streamlined Foreign Offshore...more

Panama Papers Fallout: A Push for Transparency and Regulatory Reform - Sanctions Also Levied Against Several Panama-Based...

Holland & Knight LLP on 5/20/2016

In the wake of the "Panama Papers" – the unprecedented leak of 11.5 million files from a Panamanian law firm that revealed thousands of names and addresses linked to offshore companies – the White House has announced several...more

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