Jay R. Nanavati participates in a panel titled “IRS Criminal Investigation Case Sources – It’s Not Just About Title 26 Tax Return Information Anymore. What the Bank Secrecy Act and the New Corporate Transparency Act Mean For IRS CI’s Increased Use of Data Analytics” at the American Bar Association’s 2023 Midyear Tax Meeting in San Diego, California on February 11, 2023.

Description:

Most tax and white collar defense lawyers know that the Bank Secrecy Act (BSA), Title 31, requires businesses to keep records and file reports with FinCEN that can have a high degree of usefulness for regulatory and law enforcement agencies. But what may not be as well-known is that the IRS Criminal Investigation (CI) is actually the largest user of such BSA data. With the passing of the Corporate Transparency Act (CTA) which requires even more FinCEN disclosures and reporting requirements, the IRS CI will now have another treasure trove to flex its data mining skills. This panel covers how the How, Why and What’s Next of the IRS CI’s access, use, and sharing of information found under the BSA and the CTA reporting regimes.

Learning Objectives:

After attending the session, a participant will be able to:

• Understand how the IRS-CI increasingly uses BSA data, and will further use CTA data, to identify individuals involved in illicit activities and locate assets used in such criminal acts, including money laundering, corruption, tax evasion, and other financial crimes.

Moderator:

• Sandra R. Brown, Principal, Hochman Salkin Toscher Perez PC

Panelists:

• Jay R. Nanavati, Kostelanetz LLP
• Peter D. Hardy, Ballard Spahr
• Melissa L. Wiley, Caplin & Drysdale

Click here to learn more and register.