Blog Community Compliance Taxes 
Abrigo
JANUARY 14, 2021
Takeaway 1 This round of PPP funding focuses on new borrowers in low- and moderate-income communities. . There is no doubt that the COVID-19 global pandemic has challenged communities across the country and has created a significant economic downturn, which has hit small businesses especially hard. PPP Fraud Spikes.
Abrigo
SEPTEMBER 1, 2021
Barr with the Department of Justice (DOJ) released a report in October of 2020 stating, “The addiction crisis has taken an enormous toll on America’s families and communities, eroding public health, threatening public safety and claiming tens of thousands of lives year after year.” . Read our blog series on the FinCEN's priorities.
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Abrigo
SEPTEMBER 10, 2021
BSA was intended to detect illicit activity through cash and monetary instruments to catch tax evaders using secret foreign bank accounts. The role of BSA staff was typical compliance and very task-oriented. See Part I: Implications for Community Financial Institutions. Stay up-to-date on the latest FinCEN Priorities.
Abrigo
FEBRUARY 5, 2021
Even after redoing this certification, borrowers may then still be declined on the same application due to another incorrect validation rule (for instance, an Applicant Tax ID issue),” the letter said. Nobody should fault the SBA for trying to be good custodians of our tax dollars or drive internal efficiencies. mail, Craig said.
Abrigo
DECEMBER 20, 2021
Now is the time for community financial institutions to pay attention. Millions of dollars in suspicious activity were not reported to FinCEN in a timely or accurate manner, including those connected to tax evasion, illegal gambling, money laundering, and other financial crimes. . Fundamentals of BSA. You should take note.
Abrigo
OCTOBER 27, 2016
Whether you are performing managerial accounting, financial accounting or tax accounting, your firm can grow by exploring other services that you may be able to provide for each client. Just like you may have a tax solution set up in a box, set up specific solutions to objectives in a “packaged box” for clients.
Abrigo
JANUARY 11, 2017
You don’t have to be a tax or accounting expert, in other words, to run the firm. Blumer explained that government-required compliance work related to taxes, payroll and audits provides the least value since other firms can easily do that type of work. As an entrepreneur, your goal is knowing how to deliver value to people.
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