Tax evasion in the United States

K2 Integrity's Himamauli Das Appointed Acting Director of FinCEN

Retrieved on: 
Tuesday, August 3, 2021

WASHINGTON and NEW YORK, Aug. 3, 2021 /PRNewswire/ -- K2 Integrity ,the preeminent risk, compliance, investigations, and monitoring firm co-founded by Jeremy M. Kroll and Jules B. Kroll, welcomes today's announcement by the U.S. Department of the Treasury that Himamauli Das , K2 Integrity Senior Managing Director, has been appointed to serve as Acting Director of the Financial Crimes Enforcement Network (FinCEN) and its team of dedicated professionals.

Key Points: 
  • WASHINGTON and NEW YORK, Aug. 3, 2021 /PRNewswire/ -- K2 Integrity ,the preeminent risk, compliance, investigations, and monitoring firm co-founded by Jeremy M. Kroll and Jules B. Kroll, welcomes today's announcement by the U.S. Department of the Treasury that Himamauli Das , K2 Integrity Senior Managing Director, has been appointed to serve as Acting Director of the Financial Crimes Enforcement Network (FinCEN) and its team of dedicated professionals.
  • "At K2 Integrity, Him has been an exceptional practitioner helping to develop our team and lead national economic security solutions for our clients.
  • "I am grateful for his service and that a remarkable professional with strong core values, such as Him Das, is returning to serve and protect our country and its financial system as Acting Director of FinCEN."
  • To learn more about how K2 Integrity is revolutionizing the management of risk, visit our website, www.k2integrity.com , or follow us on Twitter or LinkedIn .

K2 Integrity's Himamauli Das Appointed Acting Director of FinCEN

Retrieved on: 
Tuesday, August 3, 2021

WASHINGTON and NEW YORK, Aug. 3, 2021 /PRNewswire/ -- K2 Integrity ,the preeminent risk, compliance, investigations, and monitoring firm co-founded by Jeremy M. Kroll and Jules B. Kroll, welcomes today's announcement by the U.S. Department of the Treasury that Himamauli Das , K2 Integrity Senior Managing Director, has been appointed to serve as Acting Director of the Financial Crimes Enforcement Network (FinCEN) and its team of dedicated professionals.

Key Points: 
  • WASHINGTON and NEW YORK, Aug. 3, 2021 /PRNewswire/ -- K2 Integrity ,the preeminent risk, compliance, investigations, and monitoring firm co-founded by Jeremy M. Kroll and Jules B. Kroll, welcomes today's announcement by the U.S. Department of the Treasury that Himamauli Das , K2 Integrity Senior Managing Director, has been appointed to serve as Acting Director of the Financial Crimes Enforcement Network (FinCEN) and its team of dedicated professionals.
  • "At K2 Integrity, Him has been an exceptional practitioner helping to develop our team and lead national economic security solutions for our clients.
  • "I am grateful for his service and that a remarkable professional with strong core values, such as Him Das, is returning to serve and protect our country and its financial system as Acting Director of FinCEN."
  • To learn more about how K2 Integrity is revolutionizing the management of risk, visit our website, www.k2integrity.com , or follow us on Twitter or LinkedIn .

MoonPay Secures Money Transmitter Licenses Across USA

Retrieved on: 
Wednesday, July 21, 2021

MoonPay, the global payments solution for cryptocurrency, has secured Money Transmitter licenses across 16 states in the United States, a testament to the businesss ongoing commitment to meet the highest standards of regulatory compliance across the country.

Key Points: 
  • MoonPay, the global payments solution for cryptocurrency, has secured Money Transmitter licenses across 16 states in the United States, a testament to the businesss ongoing commitment to meet the highest standards of regulatory compliance across the country.
  • MoonPay now has licenses in Alaska, Arizona, Arkansas, Delaware, Florida, Georgia, Iowa, Kansas, Maine, Maryland, Michigan, New Hampshire, New Mexico, North Dakota, Oregon, South Dakota and has submitted for approval an additional 26 license applications.
  • Money Transmitter licenses are vital for companies providing a buy or sell service in the United States who wish to provide an independent offering to their customers, rather than relying on a third party.
  • In addition to MoonPay being a US FinCEN-registered Money Services Business, we are pleased to have been granted Money Transmitter licenses in 18 states and hope to have these live across all applicable US states by early 2022.

Gebo Group LLC and Crypto.com Announce Expanded Relationship

Retrieved on: 
Friday, April 9, 2021

JERSEY CITY, N.J., April 9, 2021 /PRNewswire/ -- Gebo Group LLC and Crypto.com are pleased to announce that they have entered into an agreement to expand their existing relationship.

Key Points: 
  • JERSEY CITY, N.J., April 9, 2021 /PRNewswire/ -- Gebo Group LLC and Crypto.com are pleased to announce that they have entered into an agreement to expand their existing relationship.
  • "We have been extremely happy with our relationship with Crypto.com to date," said Gebo co-founder James Wines.
  • Gebo Group, LLC is a US FinCEN registered Money Service Business providing deep institutional liquidity on a principal-to-principal basis.
  • Gebo Group offers sophisticated financial products and payment solutions using state of the art compliance and enterprise grade technology.

NCLA Comments Warn Against Treasury’s Proposed Crypto Surveillance Rule as Unconstitutional

Retrieved on: 
Monday, March 29, 2021

The proposed rule represents a radicaland unlawfulextension of FinCENs financial surveillance.

Key Points: 
  • The proposed rule represents a radicaland unlawfulextension of FinCENs financial surveillance.
  • Besides transaction reports, the proposed rule sets in motion a chain reaction of personal information mandatory disclosure.
  • NCLA argues that the proposed rule exceeds appropriate constitutional limits by empowering FinCEN to exercise Congress exclusive legislative power.
  • NCLA released the following statement:
    FinCENs proposed rule unlawfully attempts to transform the agencys limited authority to regulate banks into permission to engage in the mass financial surveillance of innocent individuals who merely use digital assets.

From the Tax Law Offices of David W. Klasing - FinCen Signals Intent to Make Virtual Currency in Foreign Accounts Reportable on an FBAR

Retrieved on: 
Wednesday, January 13, 2021

After publicly reinforcing this unofficial policy more than once, FinCen recently signaled its intent to reverse its former policy on virtual currency.

Key Points: 
  • After publicly reinforcing this unofficial policy more than once, FinCen recently signaled its intent to reverse its former policy on virtual currency.
  • FinCen recently announced that it intends to propose amendments to the Bank Secrecy Act to include virtual currency as a type of reportable account under 31 CFR 1010.350.
  • This proposal, like the reversal to FBAR reporting for virtual currencies , has also drawn the ire of lawmakers and taxpayers.
  • View original content to download multimedia: http://www.prnewswire.com/news-releases/from-the-tax-law-offices-of-davi...
    SOURCE Tax Law Offices of David W. Klasing, PC

FIBA on FinCEN leaks: Banks say something, when they see something

Retrieved on: 
Thursday, October 15, 2020

FIBA strongly urges that by reporting "suspicious" activity as the law requires, banks are dutifully meeting, and at times exceeding, their legal requirements.

Key Points: 
  • FIBA strongly urges that by reporting "suspicious" activity as the law requires, banks are dutifully meeting, and at times exceeding, their legal requirements.
  • David Schwartz, President and CEO of FIBA explains: "No bank would file a SAR if they knew it was going to be disclosed (to the public).
  • SARs are required to be filed with the Financial Crimes Enforcement Network (FinCEN) by financial institutions when they detect suspicious activities.
  • "As non-government entities, banks help detect suspicious activity, but aren't law enforcement or government officials to enforce or investigate these individuals," said Daniel Gutierrez, Director for FIBA.

From the Tax Law Offices of David W. Klasing - IRS Targeting the Wealthy for Audits and Criminal Tax Investigations

Retrieved on: 
Thursday, October 15, 2020

IRVINE, Calif., Oct. 15, 2020 /PRNewswire/ --In recent years, the IRS has come under fire from some prominent critics in Congress about the fact that the agency seems to have disproportionately been targeting low-income taxpayers for audits and criminal tax investigations while letting wealthier Americans get away with tax crimes that cost the agency exponentially much more money.

Key Points: 
  • IRVINE, Calif., Oct. 15, 2020 /PRNewswire/ --In recent years, the IRS has come under fire from some prominent critics in Congress about the fact that the agency seems to have disproportionately been targeting low-income taxpayers for audits and criminal tax investigations while letting wealthier Americans get away with tax crimes that cost the agency exponentially much more money.
  • As a result, the IRS has doubled down in the last few years in its efforts to crack down on tax fraud by the wealthiest Americans, announcing a program aimed at auditing those in the highest income brackets and doubling down on its commitment to the "Wealth Squad" unit .
  • If high net worth taxpayers do not voluntarily come forward and enter a domestic and or offshore voluntary disclosure program to correct their noncompliance before the IRS begins auditing or criminally investigating their issues, they will at best, face draconian civil penalties and, at worst, face criminal tax prosecution.
  • If you are a wealthy individual who has filed false, incomplete, or omitted FBARS & foreign information returns and simultaneously understated domestic or offshore taxable income in the past, you should get in contact with an experienced dual licensed International Tax Attorney and CPA like those at the Tax Law Offices of David W. Klasing as soon as possible to minimize civil penalties and avoid criminal tax prosecution.

Enforcement Notification - Tax Evasion - Robert Kalfayan fined nearly half a million dollars for tax evasion

Retrieved on: 
Wednesday, July 8, 2020

He was fined $495,614 in relation to the offences, on top of having to pay the income tax and all penalties and interests that apply.

Key Points: 
  • He was fined $495,614 in relation to the offences, on top of having to pay the income tax and all penalties and interests that apply.
  • The CRA has strengthened its ability to criminally investigate those who commit tax crimes, particularly those related to offshore tax evasion.
  • From April 1, 2014, to March 31, 2020, the courts convicted 263 taxpayers for tax evasion of $118,724,181 in federal tax.
  • The CRA has set up a free subscription service to help Canadians stay current on the CRA's enforcement efforts.

Virender Ahluwalia Joins Radiant Ventures, Inc. as Chief Financial Officer

Retrieved on: 
Friday, June 26, 2020

SANTA ROSA, Calif., June 26, 2020 /PRNewswire/ --Radiant Ventures, Inc., a cannabis supply chain management company with manufacturing and distribution operations in California, today announced the hiring of Virender Ahluwalia as Chief Financial Officer.

Key Points: 
  • SANTA ROSA, Calif., June 26, 2020 /PRNewswire/ --Radiant Ventures, Inc., a cannabis supply chain management company with manufacturing and distribution operations in California, today announced the hiring of Virender Ahluwalia as Chief Financial Officer.
  • "Virender has a sterling record of success building world class enterprises from the bottom up, and expect the same result here."
  • In doing so, he also successfully set up IRS 280-E optimized accounting processes, FINCEN compliant practices and strong company-wide financial controls.
  • Radiant Ventures, Inc. is a cannabis holding company which owns and operates Radiant Farm, Inc., doing business as Cosmic Distribution .