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New York, NY, USA - Motown: Broadway musical

IRS Places Levy on Royalties to Motown Artist for Unpaid Tax Debt

Being a Motown artist behind famous songs like “Stop in the Name of Love” and “You Keep Me Hangin’ On” doesn’t excuse not paying millions of dollars in tax debt. But did the IRS go too far when it placed a levy on royalties owed to Gold F… Read More
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Categories: IRS Debt Collection
Liechtenstein flag is waving at a beautiful and peaceful sky in day time while sun is shining.

The Muddier Waters of Willful FBAR Penalty Maximums

From the Court of Federal Claims to District Courts across the country, it seems everyone has an opinion on whether an old IRS regulation caps willful FBAR penalty maximums well below the amounts authorized in the statute. Now a new decision further… Read More
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Categories: FBAR
Person having American passport for inspection

Will They Stop You At the Airport for Your Tax Debt?

There has been a lot of news lately about the IRS certifying taxpayers to the State Department for seriously delinquent tax debt. Certification means a taxpayer’s passport will not be renewed and could be revoked. If you are behind on your taxes, d… Read More
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Categories: IRS Debt Collection
A letter from the IRS.

What to Do if You Receive a Soft Letter from the IRS

Enforcement at the IRS is getting tighter. Now that the Offshore Voluntary Disclosure Program is closed, taxpayers with foreign financial accounts are facing the possibility of higher penalties and tighter scrutiny of their offshore assets. One metho… Read More
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Hand holding U.S. passport

U.S. Tax Court Can Now Hear Tax Passport Certification Cases

Receiving a notice from the IRS is always stressful. When that document tells you that your passport could be affected, it can make you nervous to exercise your constitutional right to international travel. New changes to the U.S. Tax Court’s rules… Read More
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Categories: Tax / IRS Penalties
Marble columns and stairs

How to Challenge a Penalty for Willful FBAR Violations

If you have been assessed a civil penalty for willful FBAR violations, you may be wondering whether the IRS has the final say. Find out how to challenge a penalty for willful FBAR violations, and how the courts will decide whether or not you have to… Read More
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Categories: FBAR
Businessman in handcuffs

U.S. Prosecutors Claim First FATCA Criminal Conviction

The Foreign Account Tax Compliance Act (FATCA) was designed to help the U.S. government track down undisclosed taxable assets overseas. Many say enforcement has been ineffective so far. Now U.S. prosecutors are claiming their first FATCA criminal con… Read More
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Categories: FATCA
Woman and Man Facing Each Other Across Gap in Broken Bridge

Court Decision Widens Divide on Maximum Willful FBAR Penalties

What does it mean to willfully fail to file foreign financial account reports or make false statements on your tax returns? Can you willfully violate a rule you didn’t know existed? And if you do, how much should you be charged? These aren’t new… Read More
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The US Treasury Department Building

Treasury Dept. Announces New Voluntary Disclosure Practice

Now that the OVDP is no longer available, what will taxpayers with undisclosed foreign assets do? The U.S. Department of Treasury has announced a new voluntary disclosure practice as an option for those trying to avoid possible criminal consequences.… Read More
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Categories: FBAR, OVDP
Digital Files - FBAR Database

Government Watchdog Says FBAR Database Lacks Quality Controls

When the IRS singles you out for an audit or FBAR investigation, you assume that the process will have certain controls to be sure things are done properly. But a recent report by the Government Accountability Office, a government watchdog agency, re… Read More
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Categories: FBAR

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