Latest Operations - IRS Topics

Do you get tired of hearing about people who cheat on their taxes while you pay yours?

It didn't take a lot of time to decide on which of the many regulations and compliance issues to do a "special" newsletter. There is a lot of talk going on these days about the regulatory burden.

John Byrne Talks About Financial Institutions And The Bank Secrecy Act

Once upon a time there was a small store in town that sold milk and bread and other convenience items.

There were two little "Mom and Pop" stores in the Midwest that had accounts in the local bank.

Question: We are having a hard time convincing our branch office people to fill out the $3,000 to $10,000 log carefully and forward it to us at the end of the month as they are supposed to

Question: On line 39 of the 4789 it calls for listing negotiable instruments and wire transfers if either was involved in the transaction.

IRS-PENALTY TIN notices are due in August. They will be dated August 17, and you will have ten (10) days to respond or you will be penalized.

There is now an IRS Hotline number available to some lucky bankers in the northeast United States. It is (304)263-8700-the Information Returns Reporting Program Call Site.

With all the hoopla about the Michelangelo virus in early 1992, Paula Porpilia, founder of TIN Compliance Consultants in Maryland, warned financial institutions to check their disks before sending