International associates:

Tavana & Co.
Chartered Accountants
Toronto, Canada
Tel.416-229-2221

• Iran Sanctions:  For a number
of years, the United States has
imposed sanctions against Iran,
generally on the basis that the
Iranian government works against
U. S. interests.  The sanctions are
regulated by "Office of Foreign
Assets Control," or OFAC, which is
an agency of the U.S. Department
of Treasury.  The Iran Sanctions
significantly restrict your ability to
bring , receive, take, or send goods
and services, technology and
money from and to Iran.  You must
also know about these sanctions if
you have property in Iran, may at
some point receive an inheritance
from a relative in Iran, operate an
online business or website, or
plan to do charitable work in Iran.
Failure to comply with the Iran
Sanctions can result in severe
criminal and civil consequences:
(1) Criminal penalties may include
a fine of up to one million dollars,
imprisonment up to 20 years, or
both, and/or (2) Civil penalties may
be the greater of up to $250,000 or
twice the amount of the
transaction.

• Next time you go out to eat,
order a diet water.

• Separate but equal:  The U.S.
Supreme Court, on May 18, 1896,
in the landmark Plessy v.
Ferguson case, affirmed racial
segregation.  The Court upheld a
Louisiana law allowing racial
segregation in public facilities if
equal facilities were provided for
both races.  Justice John Marshall
Harlan dissented, saying "Our
Constitution is color-blind, and
neither knows nor tolerates
classes among citizens."  In
1954's Brown v. Board of
Education, the Court reversed its
earlier decision, stating that
separating children by race in
different schools violated the
Equal Protection Clause of the
14th Amendment to the
Constitution.

• For more of the Generalist,
please visit ARKCPA•COM.