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6c628c2634f6489cf08280411e3dc99f Archive

Offshore Virtual Currency Reporting: Is Crypto Disclosed?

TweetShareSharePin0 Shares Offshore Virtual Currency Reporting Offshore Virtual Currency Reporting Offshore Virtual Currency Reporting: Over the past few years, the IRS and FinCEN significantly increased enforcement of virtual currency including cryptocurrency. Especially with the recent surge in value of Bitcoin specifically, the Internal Revenue Service is concerned about tax and reporting-related matters involving crypto –

5 Reasons IRS Audited Your Taxes

TweetShareSharePin0 Shares Was Your Tax Return Flagged Was Your Tax Return Flagged? Was Your Tax Return Flagged: There’s nothing fun about receiving an audit notice from the Internal Revenue Service. Most of the time, it is not really that bad and can be resolved without much issue. The water starts to get a bit murkier

How FBAR Penalties Have Evolved if You Do Not File Timely

TweetShareSharePin0 Shares FBAR Penalties FBAR Penalties FBAR Penalties: In recent years, the Internal Revenue Service has significantly increased the assessment and enforcement of FBAR Penalties for undisclosed foreign bank and financial accounts. When it comes to enforcement, the IRS has procedural safeguards on their side that limit a taxpayer’s ability to fight the penalty. That

Deferred Prosecution Agreements (DPA) & Voluntary Disclosure

TweetShareSharePin0 Shares Deferred Prosecution Agreement (DPA) Deferred Prosecution Agreement (DPA) Deferred Prosecution Agreements (DPA): Sometimes when the US government uncovers a potential fraud, they still require additional information and help from inside the organization or group subject to the investigation in order to get a better grasp on what’s going on — and to build
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