Internal Revenue Code (IRC): The primary source of federal tax law in the United States, providing the framework for tax regulations and compliance requirements
Foreign Account Tax Compliance Act (FATCA): U.S. legislation requiring foreign financial institutions to report on financial accounts held by U.S. taxpayers to prevent tax evasion through offshore accounts
Bank Secrecy Act (BSA): Requires financial institutions to assist government agencies in detecting and preventing money laundering and tax evasion
USA PATRIOT Act: Enhances anti-money laundering provisions and includes measures related to tax evasion and financial crimes
Foreign Corrupt Practices Act (FCPA): Prohibits bribery of foreign officials and requires proper accounting practices, which intersects with tax compliance
OECD Common Reporting Standard (CRS): International framework for automatic exchange of financial account information between tax authorities globally
Base Erosion and Profit Shifting (BEPS): OECD initiatives to prevent tax avoidance strategies that exploit gaps in tax rules to artificially shift profits
Tax Information Reporting Requirements: Obligations for businesses to report various types of income, payments, and transactions to tax authorities
Corporate Tax Compliance: Requirements for businesses to accurately calculate, report, and pay corporate taxes while maintaining proper documentation
Employee Tax Withholding: Obligations regarding proper withholding and reporting of employee taxes, including income tax and payroll taxes
International Transaction Reporting: Requirements for reporting international financial transactions, transfers, and business relationships
Transfer Pricing Rules: Regulations governing pricing of transactions between related entities to prevent tax avoidance through price manipulation
Internal Revenue Service (IRS): Primary U.S. tax authority responsible for tax collection and enforcement of tax laws
Financial Crimes Enforcement Network (FinCEN): Treasury bureau collecting and analyzing information about financial transactions to combat money laundering and tax evasion
Department of Justice (DOJ): Federal department responsible for enforcing tax laws and prosecuting tax crimes
Securities and Exchange Commission (SEC): Federal agency overseeing securities markets and enforcing financial reporting requirements that intersect with tax compliance
Civil and Criminal Penalties: Range of penalties and sanctions for tax evasion, including fines, interest charges, and potential imprisonment
Whistleblower Provisions: Legal protections and incentives for individuals who report tax evasion or non-compliance
Voluntary Disclosure Programs: IRS programs allowing taxpayers to voluntarily disclose past non-compliance in exchange for potentially reduced penalties
