Page 7 - Dave Klasing News Today

Share this article Share this article IRVINE, Calif., March 16, 2021 /PRNewswire/ -- According to a Department of Justice press release, a tax professional from North Carolina that recently plead guilty to engaging in tax crimes was sentenced to serve more than four years in federal prison. This story should remind taxpayers that the potential consequences of engaging in criminal tax activity is severe and the fire started with a dirty preparer investigation & prosecution will burn straight to ...

Corrupt government officials laundering money from state or federal funds The information gathered will be disclosed to law enforcement agencies, financial institutions, and other entities that have mandatory anti-money laundering obligations. The owner of a corporation or LLC will have to provide the following information to comply with the CTA: The name of the beneficial owner of the company The address of the beneficial owner The date of birth of the owner The drivers license or ID number...

Share this article Share this article IRVINE, Calif., Jan. 13, 2021 /PRNewswire/ --  Previously, FinCens and thus the Internal Revenue Services (IRS) policy was to not consider foreign financial accounts that hold virtual currency as subject to foreign bank and financial account reporting (FBAR). After publicly reinforcing this unofficial policy more than once, FinCen recently signaled its intent to reverse its former policy on virtual currency. FinCen recently announced that it intends to pr...

Share this article Share this article IRVINE, Calif., Dec. 16, 2020 /PRNewswire/ -- Unfortunately, some taxpayers may not fully appreciate the risks and potential penalties for failing to meet their tax return deadlines. You could be subject to expensive monetary fines or even be charged with a criminal offense. The statute of limitations for collecting a federal income tax refund is three years after the original filing date (four years for California). If a taxpayer fails to file their inc...