Internal Revenue Code (IRC): The primary source of federal tax law in the United States, establishing the basic framework for taxation and tax compliance requirements
Foreign Account Tax Compliance Act (FATCA): Requires foreign financial institutions to report financial accounts held by U.S. taxpayers or foreign entities in which U.S. taxpayers hold substantial ownership
Bank Secrecy Act (BSA): Requires financial institutions to assist government agencies in detecting and preventing money laundering and tax evasion
Tax Cuts and Jobs Act of 2017: Major tax reform legislation that modified both domestic and international tax provisions, affecting how businesses structure their tax affairs
Foreign Corrupt Practices Act (FCPA): While primarily anti-bribery legislation, it intersects with tax evasion concerns particularly regarding international transactions and record-keeping requirements
OECD Common Reporting Standard (CRS): International framework for automatic exchange of financial account information between tax authorities to combat offshore tax evasion
Base Erosion and Profit Shifting (BEPS): International framework addressing tax avoidance strategies that exploit gaps in tax rules to artificially shift profits to low or no-tax locations
FinCEN Reporting Requirements: Specific filing and reporting obligations required by the Financial Crimes Enforcement Network to prevent financial crimes including tax evasion
FBAR Requirements: Foreign Bank and Financial Accounts reporting obligations for U.S. persons with foreign financial accounts exceeding certain thresholds
Corporate Criminal Offense Provisions: Legal framework establishing corporate criminal liability for failing to prevent the facilitation of tax evasion
State Tax Laws: Various state-specific tax regulations and reporting requirements that must be considered alongside federal requirements
Anti-Money Laundering (AML) Regulations: Regulatory framework closely tied to tax evasion prevention, requiring businesses to implement specific controls and reporting mechanisms
Know Your Customer (KYC) Requirements: Due diligence procedures required to verify the identity of clients and assess their risk factors related to tax evasion
Suspicious Activity Reporting (SAR): Obligation to report suspicious transactions that might indicate tax evasion or other financial crimes to relevant authorities
