Tax Law

Recent Posts

Politically Exposed Persons (PEPs)
Posted on 21 May 2014 by LexisNexis Tax Law Community Staff

By Prof. William H. Byrnes IV and Dr. Robert J. Munro * Editor's Note: The following is an excerpt from the e-book only title, Money Laundering, Asset Forfeiture and Recovery and Compliance -- A Global Guide , by William Byrnes and Robert Munro... Read More

Currency Transaction Reports
Posted on 29 Apr 2014 by LexisNexis Tax Law Community Staff

by Prof. William H. Byrnes IV and Robert H. Munro * The Bank Secrecy Act, which sets standards for financial institutions for identifying and preventing money laundering, provides that a Currency Transaction Report, or CTR, must be filed with IRS when... Read More

Final Regulations Clarify FBAR Reporting Requirements
Posted on 27 Oct 2011 by LN Tax Law Staff

[ Editor's Note: This narrative is derived from Taxation of Financial Institutions § 26.04 (Matthew Bender).] Under the Bank Secrecy Act, financial institutions must report and maintain records for transactions in cash or currency that exceed... Read More

Final Regulations Clarify FBAR Reporting Requirements
Posted on 27 Oct 2011 by LN Tax Law Staff

[ Editor's Note: This narrative is derived from Taxation of Financial Institutions § 26.04 (Matthew Bender).] Under the Bank Secrecy Act, financial institutions must report and maintain records for transactions in cash or currency that exceed... Read More

IRS Offers New Tax Amnesty Program for Offshore Account Holders
Posted on 14 Feb 2011 by Frankfurt Kurnit Klein & Selz

There's important news for people who maintain funds in offshore accounts. The IRS announced this week the 2011 Offshore Voluntary Disclosure Initiative ("OVDI") -- a new program designed to encourage people to bring offshore assets into... Read More

New Financial Institution Taxation, Compliance Measures in Force
Posted on 21 May 2010 by LexisNexis Tax Center

Banks and financial institutions face a host of new taxation and compliance standards in the wake of distressed economic conditions and Treasury's movement to drive enhanced transparency. Measures in place or pending include: Proposed Fee on... Read More