Tag Archives: foreign

CORPORATE TRANSPARENCY ACT IMPOSES NEW BENEFICIAL OWNERSHIP INFORMATION REPORTING OBLIGATIONS

Effective January 1, 2024, U.S. and foreign entities doing business in the U.S., may be required to disclose information regarding their beneficial owners to the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN). This requirement is being implemented under the beneficial ownership information (BOI) reporting provisions of the Corporate Transparency Act (CTA) passed by Read More…

FOREIGN BANK & FINANCIAL REPORTS DUE 6/30/16

All U.S. individuals and businesses must report their worldwide income on their U.S. income tax returns.  One way that the IRS tries to “capture” unreported foreign income is the requirement for certain taxpayers to file Form FinCEN (Financial Crimes Enforcement Network, Dept. of the Treasury) Form 114.  This form, which replaces the old Form TD Read More…