Illegal Dealing Hurts Everyone that’s a fact, and there are some steps that can be taken to put the hurt on them which is where it belongs.
You can start with the IRS and get a piece of what they recover. IRS Form 211 – Application for Award for Original Information
-The Whistleblower Office has responsibility for the administration of the whistleblower award program under section 7623 of the Internal Revenue Code. Section 7623 authorizes the payment of awards from the proceeds of amounts the Government collects as a result of the information provided by the whistleblower. Only written applications are accepted in this program. Send completed form along with any supporting information to:
TREASURY INSPECTOR GENERAL FOR TAX ADMINISTRATION [“TIGTA”]
The Treasury Inspector General for Tax Administration (TIGTA) was established in January 1999 in accordance with the Internal Revenue Service Restructuring and Reform Act of 1998 (RRA 98) to provide independent oversight of Internal Revenue Service (IRS) activities. As mandated by RRA 98, TIGTA assumed most of the responsibilities of the IRS’ former Inspection Service.
TIGTA consists of mainly auditors and investigators focused on the duties and responsibilities of an Inspector General organization on matters relating to the IRS. TIGTA is organizationally placed within the Department of the Treasury but is independent of the Department and all other Treasury offices, including the Treasury Office of the Inspector General (OIG). TIGTA’s focus is devoted entirely to tax administration, while Treasury OIG is responsible for overseeing the other Treasury bureaus.
By Mail: Treasury Inspector General for Tax Administration Hotline P.O. Box 589 Ben Franklin Station Washington, DC 20044-0589
California CDTFA -TRaCE Program
The Tax Recovery and Criminal Enforcement (TRaCE) Task Force is a pilot program facilitated by California Assembly Bill 576, Revenue Recovery and Collaborative Enforcement Team Act. TRaCE joins existing state and federal resources to collaboratively combat illegal business activities that rob California of public funds and its citizens of public services.
The Task Force is comprised of investigators and special agents from multiple agencies working together to investigate, prosecute and recover revenue lost to the underground economy. You can find links to report numerous types of criminal activity and fraud here.
California’s three licensing authorities each provide the option to file a complaint against any licensed/unlicensed commercial cannabis activity throughout the state. For tips on illegal cannabis cultivation operations or related complains, call the CalCannabis toll-free hotline: 1-833-WEED-TIP. In addition to reporting such activity to the state, it’s recommended to file a report with your local authorities as well.
Trust Everyone Tie Camel Tree – VERIFY – There is an Arab proverb reminding us that while it’s all very well to trust in Providence and have faith that everything will work out, it does not let us off the hook from doing whatever we can at the same time to ensure a favorable outcome. When selecting an attorney, CPA, or other financial advisor or finance/investment professional in the United States, there are very easily accessible tools online. If you don’t vet your advisors carefully, YOU ARE AN ASSHOLE and deserve what you get.
A comprehensive discussion of available resources for vetting advisors registered with the US follows. Additional discussion relevant for international aspects follows later on this page.
Validation of Circular 230 Tax Professional Credentials
Certified Public Accountants
The first step when you consider engaging a tax professional is verification of their credentials and review of professional disciplinary history. The tools available to perform that task include cpaverify.org is a CPA lookup tool populated by official state regulatory data sent from Boards of Accountancy to a central database. The website represents the first ever single-source national database of licensed ‘ and CPA firms. Determine a CPA or CPA firm’s credentials without having to search each of the 55 Boards of Accountancy website individually. Regulation CPAs Accountants Tax Pros
Enrolled Agent Validation
The Internal Revenue Service provides a tool for the validation of Enrolled Agent credentials. Need to verify whether someone is an enrolled agent? You may email requests for enrolled agent status verification directly to [email protected]. Please include the following information in your request:
BrokerCheck is a free tool to research the background and experience of financial brokers, advisers, and firms. BrokerCheck helps you make informed choices about brokers and brokerage firms-and provides easy access to investment adviser information. BrokerCheck tells you instantly whether a person or firm is registered, as required by law, to sell securities (stocks, bonds, mutual funds and more), offer investment advice or both. BrokerCheck gives you a snapshot of a broker’s employment history, licensing information and regulatory actions, arbitrations, and complaints.
Additional information can be found by checking with state securities regulators who can be foundhere.
Trust Everyone Tie Camel Tree – VERIFY
Look up the backgrounds of other financial professionals:
Generally, if you are a U.S. resident for purposes of a U.S. income tax treaty, you can request assistance from the U.S. competent authority if you think that the actions of the United States, a treaty country, or both, cause or will cause a tax situation not intended by the treaty between the two countries. For instructions, see Revenue Procedure 2015-40, 2015-35 I.R.B 236. Before requesting assistance, you should read any specific treaty articles, including the Mutual Agreement Procedure (MAP) article, that applies in your situation. (The filers of Competent Authority claims involving Article XIII(8) of the United States’ treaty with Canada also should consult Revenue Procedure 98-21, 1998-8 I.R.B. 1.)
It is important that you make your request for competent authority consideration as soon as you have been denied treaty benefits or it is likely that the actions of the United States or the foreign country have resulted (or will result) in double taxation or taxation otherwise not intended by the treaty. Except where otherwise provided in an applicable treaty, taxpayers have discretion over the time for filing a request; however, delays in filing may preclude effective relief. In addition to a timely request for assistance, you should take the following measures to protect your right to the review of your case by the competent authorities:
File a timely protective claim for credit or refund of U.S. taxes in accordance with Section 11 of Revenue Procedure 2015-40.
Take appropriate action under the procedures of the foreign country to avoid the lapse or termination of your right of appeal or competent authority consideration under the foreign country’s income tax law. Many countries’ MAP procedures are summarized at the OECD page MAP Profiles.
The U.S. competent authority cannot consider requests involving countries with which the United States does not have an applicable tax treaty.
The office of the U.S. competent authority lies within the Large Business and International Division. Two primary offices within the U.S. competent authority conduct the MAP process. TAIT has primary responsibility for competent authority issues arising under all other articles of U.S. tax treaties. TAIT also has primary responsibility for competent authority issues arising under U.S. tax treaties with respect to estate and gift taxes.
TAIT contact information: Telephone: 202-317-8978
Mailing Address: Commissioner, Large Business and International Division Internal Revenue Service 1111 Constitution Avenue, N.W. Washington, D.C. 20224 SE:LB:TTPO:TA:TAIT:NCA 570-03 (Attention: TAIT)
Revenue Procedure 2000-12 states that the IRS will not enter into a qualified intermediary (QI) withholding agreement that provides for the use of documentary evidence obtained under a country’s know-your-customer rules if it has not received the know-your-customer practices and procedures for opening accounts and responses to 18 specific questions listed in the revenue procedure.
This document lists those countries that have submitted know-your-customer rules and those rules have been approved.
The qualified intermediary agreement contains an attachment that lists the specific types of know-your-customer documentary evidence for each country that is sufficient for purposes of the qualified intermediary agreement. The IRS is working together with the organizations that have submitted acceptable know-your-customer rules to develop standardized attachments. The attachments can be seen here as soon as they are available. For more information, see Rev. Proc. 2000-12, Announcement 2000-48 and Notice 2006-35.
If a country is on the approved list, entities and branches located in that country may submit their QI applications. Once a specific attachment has been developed for a particular country, the IRS will associate the attachment with the qualified intermediary agreement it sends for signature. A qualified intermediary may suggest amendments to the attachment, but departures from the standardized attachment may delay the processing of an application.
Trust Everyone Tie Camel Tree – VERIFY
To determine whether the know-your-customer rules that have been submitted to the IRS cover a particular QI applicant, the applicant should look to the specific country attachment. For example, in some countries, different rules apply to banks and brokers. A QI applicant that is a bank or a broker should verify that the know-your-customer rules that have been submitted cover all the rules applicable to that applicant.
aBIZinaBOX CCDS Roadmap – 2018 is an overview of our plans to build out our platform to support the commercial cannabis industry in California, our CPA firm on abizinabox.com and a number of client platforms. The overall introduction to the platform entitled aBIZinaBOX WordPress Platform Workflows.
IRC Sec. 280E article submitted to major scholarly taxation journals and a
salable IRC Sec. 280E planning and tax compliance support product and building a template for 280E allocations, choice of entity and potentially IRC Sec. 199A
Cannabis Compliance Document Suite [“CCDS”] – which will provide a multi-tenanted platform which will permit the generation of commercial invoices and transportation manifests for California commercial cannabis businesses. A more detailed description of the platform can be found
California Cannabis Chek – is the platform product that would address cash controls, and hopefully, provide a basis to get the banking community comfortable with cannabis businesses. You can see more here.
Cannabis Compliance AI BOT – is the concept that I mentioned briefly mentioned which would involve the creation of a BOT that would have the FAQ from the aBIZinaBOX Cannabis Practice Group website with continued maintenance and update as either a pay per question or monthly subscription. The AI engine is going to be the Google Tensorflow AI Engine.
CDTFA Compliance Platform– is the platform/product that that would provide tax compliance services for Cultivation, Cannabis Excise and Sales tax returns starting with several levels of fees for return preparation dependent on answers to the due diligence instrument that we are working on to take an inventory of the accounting, tax and regulatory processes that a business has in place.
Development of Xero-Fishbowl integration, adding METRC bridge for Extractor Accounting and Tax compliance platform.
Ala Carte Consulting based upon any of what would get “fed” to use the five “products identified above”.
Tax Controversy – Audit Defense which is would assist cannabis industry businesses being examined by the IRS, FTB or CDTFA for taxes and BCC, CDPH or CDFA for California cannabis industry regulatory compliance.
Alpha Stage – There are a couple dozen additional extensions of the platform in an alpha stage we will expand up shortly.
Managing Director & CEO of integrated transactional financial advisory, tax, and technology consulting firm – aBIZinaBOX Inc New York, Chicago, and OaklandCPA.CITP.CISM.CGEIT.CGMAExpertise with: Alt. Investments/Private Equity, Real Estate, Professional Services, CA Cannabis, Tech Start-Ups and Distressed Assets/DebtTechnology Certifications including:Advanced & High Complexity Cloud Integrator AICPA PCPS, CAQ,, IMTA, CITP ISACA CGEIT, CISMState CPA Societies in California, Florida, Illinois, New York and TexasExpertise with Regulatory Compliance – US – HIPAA, FINRA, SEC Rule 17(a)(3)/(4), eDiscovery, FINCEN – EU- EBA, ESMA, EIOPA UK – BoE, PRA, FCA View all posts by abizcannabis