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FinCEN › Partnerships

The Financial Crimes Enforcement Network (FinCEN) is a bureau of the U.S. Department of the Treasury charged with detecting and combatting illegal activity within the financial system. FinCEN detects evidence of... more +
The Financial Crimes Enforcement Network (FinCEN) is a bureau of the U.S. Department of the Treasury charged with detecting and combatting illegal activity within the financial system. FinCEN detects evidence of money laundering, terrorist financing and other financial crimes by collecting, monitoring, and analyzing financial transaction data. Such data is disseminated to both domestic and international law enforcement agencies. less -
BakerHostetler

Weekly Blockchain Blog - July 2024

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Institutional Firms Enter Crypto Market; Crypto Firms Partner on New Products - According to recent reports, a major global bank is establishing a spot trading desk for buying and selling bitcoin and ether. The new desk,...more

Allen Barron, Inc.

You Sign Every Tax Return Under The Penalties of Perjury

Allen Barron, Inc. on

Many Americans have not noticed the paragraph above their signature line on the 1040 and other IRS and state tax forms, which notifies the taxpayer that they signed their tax return "under the penalties of perjury" and that...more

Greenberg Glusker LLP

Corporate Transparency Act: Action Plan for Upcoming Reporting Requirements

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Back in August, our firm released an alert on the Corporate Transparency Act (the “CTA”), summarizing the reporting obligations and the important deadlines for entities that will be considered “reporting companies” under the...more

Allen Barron, Inc.

How Does the IRS Use AI to Identify Tax Cheats?

Allen Barron, Inc. on

Could Artificial Intelligence (AI) increase the likelihood of an IRS audit in your future? How does the IRS use AI to identify US taxpayers who attempt to hide assets, under-report income or otherwise cheat the IRS? In...more

Kohrman Jackson & Krantz LLP

FinCEN Releases Small Entity Compliance Guide

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Starting in 2024, many entities that are created in or registered to do business in the United States will be required to file BOI reports with FinCEN. With the effective date fast approaching, criticism surrounding...more

Pillsbury Winthrop Shaw Pittman LLP

The Corporate Transparency Act: What You Need to Do Now

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When the Corporate Transparency Act (CTA) goes into effect in January 2024, millions of companies will face new beneficial ownership reporting obligations. The Financial Crimes Enforcement Network has proposed allowing...more

Jackson Walker

Countdown to the CTA: An Overview of the Corporate Transparency Act

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On January 1, 2024, the Corporate Transparency Act (the “CTA”) will go into effect. The CTA is a U.S. law (31 U.S. Code § 5336), enacted January 1, 2021, that aims to combat money laundering and other illicit activities. The...more

Procopio, Cory, Hargreaves & Savitch LLP

Many Private Entities Face New Federal Reporting Requirements

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Many private companies will be subject to new federal reporting regulations at the start of 2024, risking civil or possibly criminal penalties for noncompliance. Under the Corporate Transparency Act (the Act), certain...more

ArentFox Schiff

The Corporate Transparency Act: What Family Offices Need to Know

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Family offices routinely create, manage, and invest in multiple entities, including corporations, limited liability companies, and partnerships. For entities formed or operating in the United States, there has never been a...more

Willcox & Savage

The Corporate Transparency Act – Who Counts as a Beneficial Owner?

Willcox & Savage on

The third installment in a multi-part series looking at the new Corporate Transparency Act discusses the Act’s definition of “beneficial owners”, a concept at the heart of the new law. The new Corporate Transparency Act and...more

Goodwin

New Corporate Reporting Requirements on Trusts and Other Estate Planning Vehicles

Goodwin on

The Financial Crimes Enforcement Network (FinCEN) has issued final regulations setting out the reporting requirements of the Corporate Transparency Act (CTA). The CTA requires the reporting of beneficial ownership information...more

Levenfeld Pearlstein, LLC

You Say Prĭvacy and I Say Prīvacy: Tips to Take Away

Levenfeld Pearlstein, LLC on

Increasing demand for transparency and tax rules focused on the ownership of foreign financial accounts and interests in foreign trusts and entities affect private wealth planning. There are steps you can take to comply with...more

BakerHostetler

Crypto Products and Mining Initiatives Launch; Sports and Spirits Firms Embrace Blockchain; US Agencies Seek Crypto Input, Address...

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A well-known digital currency investment services company announced the launch of its first European exchange-traded fund (ETF), according to a press release this week. The ETF, which will be traded on multiple foreign...more

McDermott Will & Emery

Weekly IRS Roundup February 17 – 21, 2020

McDermott Will & Emery on

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of February 17 – 21, 2020. February 18, 2020: The IRS issued a revenue ruling providing various...more

Holland & Knight LLP

Corporate Transparency Act: A New Regulatory Requirement for Business

Holland & Knight LLP on

The U.S. House of Representatives passed the Corporate Transparency Act of 2019 (HR 2513) by a vote of 249-173, including 25 Republicans, on Oct. 22, 2019. A companion bill is being reviewed by the Senate. The purpose of HR...more

Bond Schoeneck & King PLLC

New Tax Provisions Affecting Filing Deadlines For Partnerships, Corporations and Trusts (8/15)

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On July 31, 2015, President Obama signed into law P.L. 114-41, the "Surface Transportation and Veterans Health Care Choice Improvement Act of 2015." Although this new law was primarily designed as a 3-month stopgap extension...more

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