Tax Law

Recent Posts

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

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