SCOTUS Sides with Taxpayer on Collection Due Process Appeal Deadline
May 16th, 2022
One day can make all the difference in tax lawsuits. But in Boechler PC v Commissioner of Internal Revenue, the Supreme Court of the United States said that filing a request for a collection due process appeal one day late may not have been enough to…
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Court Says Holocaust Survivor’s Willful FBAR Violation Determination is Up to the Jury
April 26th, 2022
What makes an error on a tax return or a missing form willful, rather than just negligent? Is signing a tax return enough to assume the taxpayer read and approved every line? A recent decision out of the United States District Court for the Southern…
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Steps to Take Before Suing the IRS for a Tax Refund
March 21st, 2022
When the IRS makes a mistake, individuals and small businesses often want it corrected in a hurry. They may rush to file a lawsuit to correct the error. But if you miss certain steps before suing the IRS for a tax refund, your case could be dismissed…
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What Happens if Your Accountant Fails to e-File Your Tax Extension Request?
March 7th, 2022
April 15 may be known as Tax Day, but every year, millions of taxpayers file tax extension forms to request more time to complete their tax returns. Many of those taxpayers don’t file the forms themselves. Instead, they rely on accountants to e-fil…
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Categories: Tax / IRS Penalties
Can the IRS Enforce a Judgment Lien on Gifted Property?
February 23rd, 2022
When facing an IRS audit, it might seem expedient to take steps to protect your assets from collections. You might consider giving your home to your children, for example. But this only raises a new question of whether the IRS can enforce a judgment…
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Miscalculated Willful FBAR Penalties Create Problems for the Court
February 2nd, 2022
What happens when a court decides the IRS miscalculated willful FBAR penalties? Will the penalty be forgiven? Is it the court’s job to fix the math errors, or should it remand the matter to the IRS to recalculate? And could that miscalculation actu…
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Can You Take Deductions for Your Hobby Business?
January 10th, 2022
These days, many U.S. taxpayers have a side gig they use to supplement their income and pursue their passions. Sometimes, these activities can come with significant expenses. You may wonder whether creating a business entity will provide tax relief.…
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Fifth Circuit Widens Split Over Non-Willful FBAR Penalties
December 27th, 2021
Is mistakenly failing to file a Report of Foreign Financial Accounts (FBAR) one violation of the Bank Secrecy Act, or several? Whether non-willful FBAR penalties apply per form or per account has become the next big debate among tax attorneys and fed…
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Categories: FBAR
Courts Split Over Finding Multiple FBAR Violations In One Tax Year
December 7th, 2021
When U.S. taxpayers do banking overseas, they don’t often choose an investment strategy based on the number of accounts they will hold. However, the IRS maintains that it can assess penalties for multiple FBAR violations in one tax year. That could…
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Can an Informal Trust Shield a Trustee from FBAR Penalties?
November 16th, 2021
When family money is passed down through the generations, it isn’t always clear who owns the accounts, or who is required to disclose them to the IRS. A recent case from the Federal Court of Claims considers whether an undocumented, informal trust…
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