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Foreign Bank Account Reporting Compliance Guide, 2014

Previously called:  FBAR Compliance Guide to Foreign Bank Account Reporting Compliance Guide.

If one owns or has authority over a foreign financial account, including a bank account, brokerage account, mutual fund, unit trust or some other type of financial account, he or she may be required to make an annual report of the account to the Internal Revenue Service. Under the Bank Secrecy Act, each United States person must file a Report of Foreign Bank and Financial Accounts (FBAR) (Form TD F 90-22.1), if the person has a financial interest in or signature authority (or other authority that is comparable to signature authority) over one or more accounts in a foreign country and the aggregate value of all foreign financial accounts exceeds threshold amounts at any time during the calendar year.

In addition, the Hiring Incentives to Restore Employment Act (HIRE Act), signed into law by President Obama in 2010, substantially incorporates the measures designed to stop tax evasion contained in the Foreign Account Tax Compliance Act (FATCA) of 2009.

Under FATCA, U.S. taxpayers with specified foreign financial assets that exceed certain thresholds must report those assets to the IRS on Form 8938, which will be attached to their federal income tax return. This reporting is in addition to the foreign bank account report, Form TDF 90-22.1 (FBAR).

The Form 8938 reporting is applicable to all “specified persons” who are considered to hold an interest in a “specified foreign financial asset” which meets the “reporting thresholds.” In December 2011, the IRS issued temporary (TD 9567) and proposed (REG-130302-10) regulations which provide guidance on the requirement that certain foreign financial assets be reported to the IRS for tax years beginning after March 2010. This requirement comes from Section 6038D which was added to the Internal Revenue Code under the HIRE Act.

The Foreign Bank Account Reporting Compliance Guide is an essential resource because substantial civil penalties may be imposed for non-wilful violations and for wilful violations criminal penalties and imprisonment may be imposed in addition to the civil penalties.

This is an important new IRS compliance requirement with huge monetary civil penalties at stake as well as potential criminal consequences. It has ongoing compliance reporting requirements with enforcement teeth behind it and this publication provides the necessary guidance.

Part 1 FBAR Reporting

Chapter 1       History of Foreign Financial Account Reporting  
Chapter 2       How to Define a U.S. Person
Chapter 3       What is a Financial Interest?
Chapter 4       What is Signature Authority?
Chapter 5       Financial Accounts
Chapter 6   &nb

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Foreign Bank Account Reporting – FBAR Compliance Guide, 2015 (U.S.)

Author: Melissa S. Gillespie, CPA, JD, MST,

The Foreign Bank Account Reporting Compliance Guide is an essential resource because substantial civil penalties may be imposed for non-willful violations and for willful violations criminal penalties and imprisonment may be imposed in addition to the civil penalties.

This is an important new IRS compliance requirement with huge monetary civil penalties at stake as well as potential criminal consequences. It has ongoing compliance reporting requirements with enforcement teeth behind it and this publication provides the necessary guidance.

Part 1 FBAR Reporting
Chapter 1      History of Foreign Financial Account Reporting  
Chapter 2       How to Define a U.S. Person
Chapter 3       What is a Financial Interest?
Chapter 4       What is Signature Authority?
Chapter 5       Financial Accounts
Chapter 6       Exceptions to Filing
Chapter 7       How to Complete the Form TDF 90-22.1
Chapter 8       Penalties
Chapter 9       Recent Developments Through 2011
Chapter 10     Developments During 2012 and 2013

Part 2   FATCA Reporting
Chapter 11     An Overview of Reporting for Specified Foreign Financial Assets
Chapter 12     The HIRE Act and Form 8938 vs. Form TDF 90-22.1
Chapter 13     Temporary and Proposed Regulations for FATCA: Definitions
Chapter 14     Who is a Specified Person Under the FATCA Rules and What Are Their Applicable Filing Threshold Amounts
Chapter 15     What is Reportable on Form 8938
Chapter 16     How to Report Specified Foreign Financial Assets
Chapter 17     Penalties for Failure to File Form 8938  
Chapter 18     FATCA Withholding Provisions Found Under IRC Sections 1471-1474
   
9780808039532    7" x 10"      680 pages

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Financial Products: Taxation, Regulation and Design (2015 Supplement) (U.S.)

Author: Andrea S. Kramer

A three-volume set, the book provides a road map to work one’s way through the tax and regulatory maze of financial products. It details the policies, rules, and interpretations that govern the federal regulation and taxation of securities, derivatives, commodities, options, and hybrid products. It provides reliable answers to questions about financial markets and products and will help in planning transactions and in defending challenged tax positions.

Part 1 Overview of the Markets
Part 2 Overview of Selected Market Participants
Part 3: Taxation of Market Participants
Part 4 Taxation of Capital Transactions
Part 5 Taxation of Ordinary Income Transactions
Part 6 Profit Motive, Sham, Business Purpose, and Other Anti-Abuse Considerations
Part 7 Treatment of Gain or Loss on Terminations of Contract Rights and Obligations
Part 8 Taxation of Dividend Income, Interest Income, Security Loans, and Repurchase Transactions
Part 9 Taxation of Stock and Other Equity Securities, Publicly Traded Partnership Interests, and Publicly Traded Trust Interests
Part 10 Taxation of Debt Securities and Options on Debt Securities
Part 11 Taxation of Asset-Backed Securities
Part 12 Taxation of Physical Commodities and Options on Commodities
Part 13 Taxation of Section 1256 Contracts
Part 14 Tax Consequences of Holding Offsetting Positions (Straddles)
Part 15 Foreign Currency and International Operations
Part 16 Notional Principal Contracts


9780808039549   6" x 9"     1,152 pages

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Financial Products: Taxation, Regulation and Design (2014 Supplement) (US)

Author: Andrea S. Kramer

A three-volume set, the book provides a road map to work one’s way through the tax and regulatory maze of financial products. It details the policies, rules, and interpretations that govern the federal regulation and taxation of securities, derivatives, commodities, options, and hybrid products. It provides reliable answers to questions about financial markets and products and will help in planning transactions and in defending challenged tax positions.

Part 1:       Overview of the Markets
Part 2:       Overview of Selected Market Participants
Part 3:       Taxation of Market Participants
Part 4:       Taxation of Capital Transactions
Part 5:       Taxation of Ordinary Income Transactions
Part 6:       Profit Motive, Sham, Business Purpose, and Other Anti-Abuse Considerations
Part 7:       Treatment of Gain or Loss on Terminations of Contract Rights and Obligations
Part 8:       Taxation of Dividend Income, Interest Income, Security Loans, and Repurchase
                   Transactions
Part 9:       Taxation of Stock and Other Equity Securities, Publicly Traded Partnership Interests,
                   and Publicly Traded Trust Interests
Part 10:     Taxation of Debt Securities and Options on Debt Securities
Part 11:     Taxation of Asset-Backed Securities
Part 12:     Taxation of Physical Commodities and Options on Commodities
Part 13:     Taxation of Section 1256 Contracts
Part 14:     Tax Consequences of Holding Offsetting Positions (Straddles)
Part 15:      Foreign Currency and International Operations
Part 16:      Notional Principal Contracts

1,152 pages


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Energy Design Update

Stay abreast of the latest progress in creating homes that save energy while optimizing economy, comfort, and health. Energy Design Update presents unbiased news and advice about developments in technology and regulation, objective product reviews, design and building tips, practical research reports, and tutorials.

To produce each issue, the editors read countless journals and reports, travel to conferences worldwide, visit construction sites, and spend hours on the phone, tracking down leads, asking the hard questions – and getting the answers. The editors then condense their findings into the 16 practical, fast-reading pages of the newsletter.

 

If you would like more details about this product, or would like to order a copy online, please click here.




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Archived Webinar - Reporting Foreign Property on the T1135

Interested in Reporting Foreign Property on the T1135, but missed the webinar that took place on May 5, 2014? Here is your chance to purchase the webinar recording.

The CRA has extended the filing deadline for the T1135 to July 31, 2014. If you will be preparing T1135 forms for T1 clients after tax season, have to prepare T1135 forms for corporations or just want to make sure that you filed your T1135s correctly, then view this webinar for an analysis of the revised T1135.

Maureen Vance, CPA, CA, a tax consultant with Wolters Kluwer CCH will explain the new reporting requirements on the T1135 and your reporting options, and will also review what constitutes Specified Foreign Property.

The webinar archive will include the following topics:

  • New T1135 requirements
  • Recap of the definition of Specified Foreign Property
  • The T3/T5 exclusion explained
  • The 2013 Transitional Reporting method
  • Choosing between the T3/T5 exclusion and the transitional reporting method
  • Filing the T1135
  • 2014 year ends
  • Penalties and extended reassessment
  • Q&A
    • Target Audience

    This archive webinar will be of interest to all professionals who prepare a T1135 for a taxpayer, whether the taxpayer is an individual, corporation, trust or partnership.

    This Webinar Includes: 

    • 30 days to review the webinar recording
    • PDF version of the presentation slides


     

    If you would like more details about this product, or would like to order a copy online, please click here.




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    This work presents a novel and green lignin-based nanocomposite and highlights the synergism of lignin's multiple functions (surfactant, sacrificial template, and reducing agent) in the material preparation process.
    To cite this article before page numbers are assigned, use the DOI form of citation above.
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    This paper reports a new concept for the biorefinery of lignocellulosic biomass where the derivatisation and fractionation of lignocellulose are accomplished at the same time.
    To cite this article before page numbers are assigned, use the DOI form of citation above.
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    Green Chem., 2020, 22,2474-2487
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    The potentiality of acidic deep eutectic solvents for β-O-4 ether bond cleavage is herein demonstrated from a mechanistic point of view.
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    Green Chem., 2020, 22,2513-2525
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    Green Chem., 2020, Accepted Manuscript
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    Green Chem., 2020, Advance Article
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    The first Diels–Alder reaction of vinyl arenes with ene systems catalyzed by MOFs is reported.
    To cite this article before page numbers are assigned, use the DOI form of citation above.
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    Dave's Test (EN) (IGNORE) 3

    Test

    If you would like more details about this product, or would like to order a copy online, please click here.




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    Archived Webinar - Introduction to Followership, Leadership and Team-Building: Alignment and Integration

    This webinar introduces you to a relatively new social science paradigm, Followership. For many years followership was viewed as an appendage to leadership and in many business schools, the focus has been on leadership. Why? The answer is really very simple. Leadership has always been viewed as the foundation of organizational power and influence. Did you know that leaders really spend 20 to 30 percent of their time leading, and 70 to 80 percent of their time following, but that following has never been viewed as an essential activity?

    Most people have a rather negative perception of followers. Children’s games of Follower the Leader, automotive manufacturer Audi’s bold declaration of “Never Follow” and parent’s warning to their children if “”Johnny is going to jump off of a bridge, are you going to follow him? ; reinforce the negative societal perception of sheep –like followers who are easily influenced, molded and are of little worth. Like with leadership,  there are specific  and distinct followership styles and associated behavioral attributes that certainly have an effect on organizations and their performance.

    Leadership model’s like the Hersey-Blanchard Situational Leadership Model, focuses on leadership style based on the follower or group maturity level. Though this particular model has much research to support the premises of the theory, the focus is still on leadership influence and power based on a follower maturity level, versus a behavioral interaction and follower influence on the leader. What you will learn during this webinar is the use of a behavioral based leadership model that focused on the development and power-sharing relationship with organizational followers that is essentially a mutually beneficial symbiotic relationship where the leader and follower grow and learn from each other where leaders learn to become Transformational Leaders and followers learn to become what is termed Exemplary Followers. This will not be an attempt to conduct a comparative study of various leadership styles.

    The concepts behind Exemplary Followership and Transformational Leadership become essential in organizations that are focusing on becoming self-directed team based organizations. Unfortunately, organizations that bandy the team word around and say: We are going to be a team! Or We have a team based organization, when in reality; the teams are just miniature versions of the larger rigidly formal hierarchy of the larger organization. At that point, the team concept becomes a joke and sinks beneath the waves of failure. In order to successfully implement these concepts in your organization, major organizational cultural change will become necessary in order to adopt and integrate e

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