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Tag: Foreign Account Tax Compliance Act

Home / Posts Tagged "Foreign Account Tax Compliance Act"
27Jan 2020 by Pat Geddie
Say it Ain’t So- FATCA Goes Criminal

Say it Ain’t So- FATCA Goes Criminal

Tax Law
By Anthony Diosdi In United States v. Kyriacou, No. 1:18-cr-001102-KAM (E.D.N.Y. 2018), the Department of Justice (“DOJ”) has secured under the Foreign Account Tax Compliance Act (“FATCA”) through the guilty plea of Adrian Baron, a former executive of Loyal Bank Ltd. The bank had offices in Budapest, Hungary and the Carribean. Baron was convicted under 18 U.S.C. Section 371 for conspiracy to commit fraud by failing to follow the mandates of FATCA.An Overview of FATCAFATCA was enacted in the effort to combat tax evasion by U.S. persons holding accounts and other financial assets offshore. FATCA requires certain foreign financial institutions (“FFIs”) to report directly to the Internal Revenue Service (“IRS”) information about financial accounts held by U.S. taxpayers or by foreign entities in which U.S. taxpayers hold substantial ownership interests.…
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Practice Areas

  • Tax Law Attorneys
  • Tax Preparation Attorneys
  • Criminal Tax Attorneys
    • The Internal Revenue Service Criminal Investigation Process
    • Pre-Indictment Department of Justice Representation
    • Post-Indictment Representation
    • Specific Criminal Sanctions
    • Criminal Aspects of Failing to Disclose Foreign Financial Accounts
    • Criminal / Civil Forfeitures
    • Voluntary Disclosures
  • International Tax Attorneys
    • Residency Planning for U.S. Income Tax Purposes
    • U.S. Tax Planning for Foreigners Intending to own U.S Real Estate
    • Minimizing U.S. Tax Consequences of U.S. Citizens and Residents Working Overseas
    • Outbound Tax Planning
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    • Check the Box Regulation Planning
    • Expatriation Exit Tax
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    • Captive Insurance Compliance & Audit Representation
    • Employment Tax Representation
  • Tax Litigation Attorneys
    • Passport Revocation Representation
  • Report of Foreign Bank & Financial Accounts
    • FinCen Form 114 / Treasury Form TD F 90-22.1
    • Voluntary Disclosures of Foreign Financial Accounts
    • Report of Foreign Bank and Financial Accounts “FBAR” Litigation
  • Chapter 7 Bankruptcy Attorneys
  • Collection Representation
  • Tax Planning Attorneys
  • Cryptocurrency Attorney & Representation
  • GILTI Planning Attorneys
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