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European Union Demands Re…

European Union Demands Reciprocity, Transparency from IRS

Since 2010, the Foreign Account Tax Compliance Act has created trouble for U.S. taxpayers living overseas. Now, a letter from the European Union’s General Secretariat of the Council has turned the tide, putting pressure on Treasury Secretary Steven… Read More
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Categories: FATCA
The IRS Offer in Compromi…

The IRS Offer in Compromise: What You Should Know

If you are substantially behind on your personal taxes you may be considering a tax settlement. In some cases, an offer in compromise can offer you a quicker resolution and reduce the total amount paid to the IRS. However, before you submit an IRS of… Read More
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Categories: IRS Debt Collection
Can a U.S. Embassy Seize…

Can a U.S. Embassy Seize Your Passport For Seriously Delinquent Tax Debt?

American citizens living abroad rely on their local U.S. embassy to be their connection to their home country. That includes processing passport renewal applications. But if the IRS has certified you to the State Department for having seriously delin… Read More
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Categories: Tax / IRS Penalties
Federal Circuit Court Wei…

Federal Circuit Court Weighs In on Willful FBAR Penalty Cap Issue

The question of just how expensive an IRS willful FBAR penalty can be has been making its way through trial courts across the country for more than a year. Now the first of those cases are coming up on appeal. As the Federal Circuit Court weighs in o… Read More
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Categories: FBAR
IRS Sends Warning Letters…

IRS Sends Warning Letters to Taxpayers Facing Passport Revocation

Taxpayers living overseas or traveling for months at a time may worry that they won’t receive notification of IRS passport revocation until it is too late. Find out how a newly approved warning letter can help taxpayers respond before they are cert… Read More
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Categories: IRS Debt Collection
Audit Reveals Problems in…

Audit Reveals Problems in IRS Passport Revocation Procedures

For the last few years the IRS has certified taxpayers with seriously delinquent tax debt to have their passport applications denied or their existing passports revoked. The program may be successful in collecting overdue taxes, but as a recent audit… Read More
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Categories: IRS Debt Collection
Failing Company Lead to C…

Failing Company Lead to Criminal Tax Charges for Business Owner

When a business opportunity turns sour it can leave entrepreneurs struggling to pay their employees and satisfy their creditors, including the IRS. A recent Court of Appeals decision shows how decisions made in a failing company led to criminal tax c… Read More
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Categories: Tax / IRS Penalties
Tax Law’s Two Definitio…

Tax Law’s Two Definitions of Willfulness, and Why They are Different

The definitions of words in the U.S. tax code can be the difference between criminal convictions and financial consequences. Most taxpayers would assume that one word in that code would have one meaning. But when it comes to the definitions of willfu… Read More
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Categories: Tax / IRS Penalties
man in a grey suit standing and holding his painful head with clenching teeth.

FBAR Willfulness Decision is Up to the Jury, Court Says

The difference between a willful and non-willful FBAR penalty against a U.S. taxpayer can be thousands, and sometimes millions of dollars. But how can the IRS know what was going on in your head, and whether your failure to file was on purpose? A rec… Read More
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Categories: FBAR
Domino effect in business.

IRS Eclipses Record FBAR Penalties in New Tax Fraud Lawsuit

A recent federal court tax fraud lawsuit against a woman and her deceased husband’s estate has set a new record for FBAR penalties exceeding over $119.6 million. Find out what the IRS says she and her husband did to deserve such a steep penalty. Hu… Read More
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