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

Sutherland Legal Alert: FinCEN Extends Due Date for Certain FBAR Filers
Posted on 1 Mar 2012 by Sutherland Asbill & Brennan LLP

By Robb Chase and Amanda Pugh On February 14, 2012, the Department of Treasury's Financial Crimes Enforcement Network (FinCEN) issued Notice 2012-1, which extended the filing deadline for both the 2010 and 2011 Report of Foreign Bank and Financial... Read More

Sutherland Legal Alert: FinCEN Extends Due Date for Certain FBAR Filers
Posted on 1 Mar 2012 by Sutherland Asbill & Brennan LLP

By Robb Chase and Amanda Pugh On February 14, 2012, the Department of Treasury's Financial Crimes Enforcement Network (FinCEN) issued Notice 2012-1, which extended the filing deadline for both the 2010 and 2011 Report of Foreign Bank and Financial... 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

Additional FBAR Relief for Certain Foreign Financial Account Signatories
Posted on 21 Jun 2011 by LexisNexis Tax Center

by Keith J. Blum , Partner - Boies, Schiller & Flexner LLP On June 16, 2011, the IRS, in Notice 2011-54, further extended the deadline from June 30, 2011, to November 1, 2011, for the filing of the Report of Foreign Bank and Financial Accounts... 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