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Tag: Lawrence Sannicandro

Don Fort and Larry Sannicandro Participate In A Panel Entitled “Cryptocurrency: Current Tax and Bank Secrecy Act Enforcement Environment” For Celesq

On February 26, 2021, Don Fort and Lawrence Sannicandro participate in a panel entitled "Cryptocurrency: Current Tax and Bank Secrecy Act Enforcement Environment" for Celesq AttorneysEd Center Description: Virtual currencies, including cryptocurrency, have recently received significant attention from the IRS, the Financial Crimes Enforcement Network, the U.S. Department of Justice

FinCEN Action on Capital One Sends Clear Message on BSA Compliance

FinCEN Flexes Its Muscle with $390 Million BSA Penalty Against Capital One National Association Action Comes on Heels of Passage of the Most Robust AML Reforms in 20 Years On January 15, 2021, the Financial Crimes Enforcement Network (FinCEN) announced that it had reached a settlement with Capital One National

Mitigating IRS Cryptocurrency Enforcement Risk in 2021

The high-stakes game of chicken regarding the IRS's enforcement of tax violations involving cryptocurrency holders is poised to move to the next level in 2021, K&F Director of Investigations Don Fort and Partner Lawrence Sannicandro explain in a recent Law360 article. After several years of warning taxpayers about civil and

The Impact of the IRS’s Clarification of the DIIRSP

Recent clarifications to the Delinquent International Information Return Submission Procedures (“DIIRSP”) remind taxpayers and their advisors of the need to understand the standards, case law, and administrative guidance that apply to requests to have late-filing penalties abated on the ground of reasonable cause. In June 2014, the Internal Revenue Service’s