Tax Law Blog

As we count down the top ten IRS:CI scams of 2023, crypto fans will be interested in #8, a defendant who manipulated blockchain tech to earn millions—and a prison term.

In a recent statement to the House Committee on Financial Services, the Director of FinCen explained its mission and purpose in enacting the Corporate Transparency Act (CTA) which became effective at the first of this year.

An increased IRS budget and a court ruling against the agency are of interest to those who file a report of Foreign Bank and Financial Accounts (FBAR).

Passed by federal legislators in 2022, the Corporate Transparency Act (CTA) takes aim at deterring tax fraud and money laundering. The Act went into effect on the first day of 2024.