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Tag Archive for Russia

A Year Later, Mixed Fortunes For Panama Papers Line-Up

Ron Marini

When the International Consortium of Investigative Journalists and more than 100 media partners began publishing the Panama Papers investigation on April 3, 2016, almost no country was untouched by its revelations.

Governments in more than 70 Countries have launched over 150 Investigations, Inquiries, Audits and Probes into the affairs of Thousands of People and Corporations linked to Notorious “Panama Papers.”

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Russia’s “Citizenship Reporting” Requirements – The U.S. Next? Your Taxes May Be Scrutinized!

John Richardson

The law does not make dual citizenship illegal; it is merely a reporting requirement.

Federal Law No. 142-FZ on Amendment of Articles 6 and 30 of the Federal Law on Russian Federation Citizenship and Individual Regulations of the Russian Federation, which took effect on 4 August 2014, makes it a criminal offence for Russian nationals to conceal dual citizenship or long-term residence abroad.

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Mr. FBAR As A Role Model For President Putin And The Russian Government

It has been widely reported that American actor Steven Seagal has joined American boxer Roy Jones in becoming a citizen of Russia. By becoming Russian citizens, Mr. Seagal and Mr. Jones are now subject to Russia’s Currency laws, which include the requirement to report their non-Russian bank accounts to the Kremlin. Messrs Seagal and Jones may admire Russia. That said, it’s clear that the Kremlin admires the U.S. Treasury in general and Mr. FBAR – America’s most important citizen – in particular.

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Will The IRS Tax Return Data Breach Impact You?

As you no doubt have heard on the news, the IRS recently announced that cyber thieves have gained access to over 100,000 taxpayers’ tax return information. According to a number of news sources, that breach has been traced to Russia.

The criminals did not actually gain access to IRS secure databases by hacking into the IRS computer system. Instead, they simply used an online tool provided by the IRS through which taxpayers are able to obtain transcripts of their previously filed tax returns. That service, called “Get Transcript,” is available to anyone who, with the correct information, can access an individual’s transcripts. The problem is this: the information needed to access “Get Transcript” is readily available from other online sources, which made it easy for the criminals to access a large number of taxpayer accounts. Read more

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