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May 30, 2023 — Palm Beach art dealer Daniel Elie Bouaziz was sentenced today to 27 months in federal prison, followed by three years of supervised release, for laundering money derived from his scheme to sell counterfeit artwork. U.S. District Judge Aileen M. Cannon also ordered Bouaziz to pay a $15,000 fine. The restitution hearing is set for August 16.

Public Law 115-97 (Tax Cuts and Jobs Act of 2017) enacted section 250 for the allowance of a deduction for the eligible percentage of Foreign-Derived Intangible Income (FDII) and Global Intangible Low-Taxed Income (GILTI). Use Form 8993, Section 250 Deduction for Foreign Derived Intangible Income (FDII) and Global Intangible Low-Taxed Income (GILTI), to figure the amount of the eligible deduction for FDII and GILTI under section 250.

Find answers to frequently asked questions about Foreign Account Tax Compliance (FATCA).

A page discussing rules about payees of payments (other than income effectively connected with a U.S. trade or business) made to a foreign flow-through entity are the owners or beneficiaries of the flow-through entity.

Find statistics for both inbound and outbound international corporate activities here. There's also information on specialized areas covering foreign trusts, international boycotts, and more.

If you are making a payment to a nonqualified intermediary, foreign flow-through entity, or U.S. branch that is using Form W-8IMY to transmit information about the branch's account holders or customers, you can treat the payment.

March 31, 2025 — Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated six individuals and seven entities involved in a money laundering network supporting the Sinaloa Cartel, one of the most notorious and violent drug trafficking organizations in the world, and a U.S.-designated Foreign Terrorist Organization (FTO). The Sinaloa Cartel is responsible for a significant portion of the illicit fentanyl and other deadly drugs trafficked into the United States and has exploited multiple ports of entry along the southern border for its criminal activities.

If a tax treaty between the United States and your country provides an exemption from, or a reduced rate of, withholding for certain items of income, you should notify the payor of the income (the withholding agent) of your foreign status to claim the benefits of the treaty.

December 9, 2021 — IRS Criminal Investigation (IRS-CI) has 11 attaché offices strategically positioned abroad to tackle financial and tax-related crimes and train foreign government partners on investigative techniques. As the world observes 2021 International Anti-Corruption Day Dec. 9, IRS-CI underscores its commitment to investigating bribery, money laundering and fraud schemes that take place across the globe.

Topic no. 559, Net investment income tax