Tag Archives: Tax Exemption

J.P. Morgan Chase Hit For $461M For Madoff-Related Bank Secrecy Act Violations


The Financial Crimes Enforcement Network (FinCEN)  today fined J.P. Morgan Chase Bank, N.A. $461 million for willfully violating the Bank Secrecy Act (BSA) by failing to report suspicious transactions arising out of Bernard L. Madoff’s decades-long, multi-billion dollar fraudulent investment … Continue reading

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IRS Shares Procedures To Seek Tax-Exemption Reinstatement For Non-Filers


Tax-exempt organizations that fail to file required returns on a timely basis risk losing their tax exemption under Section 6033(j) of the Internal Revenue Code (Code). Revenue Procedure 2014-11 provides potential opportunities for reinstatement through timely and appropriate action.  It … Continue reading

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Tax Return Preparers – Including Tax-Exemption Forms – Must Get New Preparer Tax ID Number


New Internal Revenue Service regulations require all paid tax return preparers (including attorneys, CPAs, and enrolled agents) to apply for a Preparer Tax Identification Number (PTIN) — even if the preparer already has one — before preparing any federal tax returns in 2011. Continue reading

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