Compliance Issues Archives - Page 2 of 4 - Christopher J. Byrne PLLC

Panama Papers: Exposure for International Citizens

The Panama Papers, a massive trove of leaked documents from the Panamanian law firm Mossack Fonseca & Co., exposed evidence of the firm creating hundreds of thousands of shell companies…

July 29, 2016

Compliance Issues OVDI Streamlined Procedure Tax Amnesty Tax Compliance

Panama Papers: Department of Justice Continues Investigation on U.S. Citizens

In early May, a massive leak of documents from the Panamanian law firm Mossack Fonseca & Co. known as the Panama Papers showed evidence of the firm creating hundreds of…

July 29, 2016

Compliance Issues OVDI Streamlined Procedure Tax Amnesty Tax Compliance

Panama Papers: Department of Justice Investigates Mossack Fonseca Employees

Documents, known as the Panama Papers, from the Panamanian law firm Mossack Fonseca & Co., showed evidence of the firm creating hundreds of thousands of shell companies and offshore accounts…

July 29, 2016

Business Compliance Issues Elections Entity Classification Forms and Filings Internal Revenue Code

Proposed Regulations regarding Foreign-Owned Domestic LLCs

Under current regulations, spanning from Treas. Reg. §§ 301.7701-1 through 301.7701-3, a domestic limited liability company (“LLC”) organized under the laws of the United States, with only one member is…

July 6, 2016

Compliance Issues

Form 8300 Compliance

Form 8300 Report of Cash Payments Over $10,000 Received in a Trade or Business is required to be filed by a person who in the course of a trade or…

July 6, 2016

Compliance Issues FATCA Forms and Filings Internal Revenue Code International Treaty U.S. Withholding

Changes to Form W-8BEN-E

Form W-8BEN-E Certificate of Status of Beneficial Owner for United States Tax Withholding and Reporting (Entities) is a form prepared by a foreign entity which must be provided to a…

July 6, 2016

Compliance Issues Internal Revenue Code Internal Revenue Service Tax Compliance

Form 8938 – New IRS Regulations Require Domestic Entity Filers

Pursuant to new guidance (T.D. 9752, RIN 1545-BM54) issued by the Department of Treasury under Internal Revenue Code § 6038D and effective as of February 23, 2016, the requirement for…

June 16, 2016

Compliance Issues Forms and Filings Tax Compliance U.S. Withholding

FIRPTA Changes Encourage New Wave of Foreign Investment

Congress amended the Foreign Investment in Real Property Tax Act of 1980 (“FIRPTA”) in the Protecting Americans from Tax Hikes Act of 2015, signed into law on December 18, 2015. …

June 16, 2016

Compliance Issues FBAR Forms and Filings

Proposed Rules for Bank Secrecy Act Regulations

On March 1st, the US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued proposed rules to modify regulations issued under the 2011 Bank Secrecy Act regarding the reporting…

June 16, 2016

Compliance Issues Tax Compliance Wills

Executors and Personal Tax Liabilities

When an executor is appointed to an estate, he or she must exercise due care to ensure that he or she is fully aware of the priority of payments that…

June 16, 2016

Compliance Issues Tax Amnesty Tax Compliance

The White House Speaks on Panama Papers

Following a leak in April of the so-called “Panama Papers,” documents evidencing assets being hidden by shell companies owned by some of the world’s most powerful and influential leaders and…

May 6, 2016

Compliance Issues Tax Amnesty Tax Compliance

Panama Papers Reveal Hidden Assets of Worldwide Elite

Dubbed the “Panama Papers,” an extensive 11 million document trove from Panamanian law firm Mossack Fonseca was leaked to Süddeutsche Zeitung, Germany’s largest national subscription newspaper; it has been analyzed…

April 25, 2016

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