Double Taxation, Big Data and Panama Papers

Compliance Matters

The Urban Legend of Double Taxation

Stanley Foodman provides expert guidance on the urban legend of double taxation. In the United States our tax code is set up to avoid double taxation for monies earned outside the U.S. Don't be a victim of your own making. Watch this video and if you have any questions about a Foreign Income Exclusion or the U.S. Foreign Tax Credit, call us.

Is Big Data a Misunderstood Moving Target?

The Oxford English Dictionary defines Big Data (BD) as data sets that are complex, hard to understand and difficult to process utilizing conventional methods. Historically, typical Information Technology (IT) systems have been incapable of capturing, storing, managing and analyzing BD, which is constantly evolving and accumulating in the world's data vaults; making BD A MOVING TARGET.

"Spider Webs", "Panama Papers" and IRS

IRS has asked involved U.S. taxpayers to come forward before IRS reads and dissects the "Panama Papers". IRS will "plan how to use the huge trove of leaked documents to catch criminals - and urged Americans to come clean now before illegal activity is discovered". "People hiding assets offshore should recognize the continued changes and progress in the international tax arena," the IRS said. "More than ever, their best option remains to come forward voluntarily and participate in the IRS Offshore Voluntary Disclosure Program."

Download Common Reporting Standard Whitepaper

CRS requires financial institutions resident in participating jurisdictions to implement due-diligence procedures, to document and identify reportable accounts, and to establish a wide-ranging reporting process. Start by downloading our free whitepaper!

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FATCA Products & Services

Foodman CPA & Advisors has several products and services which help U.S. and Foreign Financial Institutions (USFIs and FFIs). For more information on these products, please contact us.

Foodman can help you create a FATCA manual, which is a legal requirement for a FFI to have in place. The FATCA manual can be tailored, personalized and can easily be converted to the FFI's policies & procedures manual.

FATCA Helpdesk is an extremely powerful tool to answer your specific questions. See an example.

FATCA Training can be coordinated on-site or via webinar. View our offerings.

We have much more to offer you. Please contact us or visit our site.

About Us

Foodman CPAs & Advisors is one of Florida's most respected forensic accounting and advisory services firms. Our clients include some of the best-known names in law and business, locally, nationally and internationally. We serve attorneys, large and small businesses, government entities, not-for-profits and individuals.

1201 Brickell Ave., Suite 610 Colonnade Plaza Miami, FL 33131

305 365 1111

www.foodmanpa.com

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