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Enforcing the Exit Tax Against Expatriates: California State Bar Recommends Change
December 8th, 2017
In theory, surrendering your U.S. citizenship for tax purposes can be expensive. However, the IRS sometimes has difficulty enforcing the exit tax against expatriates. Now the State Bar of California is recommending legislative changes that would make…
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Categories: Tax News
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FBAR Penalties Build Up Over Years, Even Through Criminal Penalties
November 30th, 2017
As a U.S. taxpayer, you may believe that one run in with the IRS is enough. If you have faced FBAR penalties or criminal prosecution for tax evasion or failure to file necessary forms, you may assume you don’t have to worry anymore. But FBAR penalt…
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Paul Manafort Indicted for Conspiracy, Tax Fraud, and FBAR Felonies
November 21st, 2017
On October 31, 2017, it was announced that Trump adviser Paul Manafort and his assistant Richard Gates were indicted in federal court on charges of conspiracy, tax fraud, and FBAR reporting felonies. These charges were some of the first arising from…
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Bad Records Keeping a Felony? Supreme Court to Weigh In
October 24th, 2017
Could lazy records keeping or document retention result in felony tax obstruction charges? Could not following an accountant’s advice land a business owner in prison? If the Supreme Court of the United States upholds a recent Second Circuit dec…
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Categories: Tax / IRS Penalties
AICPA Criticizes Changes to IRS Dispute Resolution Process
October 12th, 2017
When U.S. taxpayers find themselves in dispute with the Internal Revenue Service (IRS) they can face confusing processes, a rotating roster of agents and employees, and an often opaque decision making process that can make them feel outnumbered and i…
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Hurricanes & Natural Disasters: What You Need to Know About Casualty Deductions
September 15th, 2017
Hurricane Harvey and Hurricane Irma have rocked the southern states over the past weeks. Hundreds of thousands of people are returning to find their homes and businesses damaged, even destroyed. They may be able to use casualty deductions to offset s…
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Categories: Tax Deductions
Court Says Sen. Rand Paul, Plaintiffs Can't Challenge FATCA / FBAR
September 12th, 2017
Senator Rand Paul and several individual plaintiffs asked an Ohio federal court to strike down the Foreign Account Tax Compliance Act (FATCA), the Bank Secrecy Act’s Financial Bank Account Reporting (FBAR) requirement, and certain intergovernme…
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Taxpayer Advocate Calls for IRS Transparency
August 28th, 2017
Taxpayers facing an IRS audit or investigation often feel like the decisions come out of nowhere. Lack of transparency isn’t a new problem for the Internal Revenue Service (IRS). In fact, a recent report from the National Taxpayer Advocate expl…
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IRS Seeks Prison Time for Willful Tax Fraud
August 18th, 2017
It can sometimes feel like the Internal Revenue Service (IRS) is out to get taxpayers who don’t know the rules. But a recent federal court indictment, if proven true, will show that sometimes taxpayers know exactly what they are doing when they com…
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Private IRS Debt Collectors May Have Broken Federal Law
July 25th, 2017
In April 2017, the IRS began using private debt collectors to pursue unpaid back taxes. But after only two months, it appears at least one of the contractors may have broken federal law to get the job done. 2015 Law Allows for Private IRS Debt Collec…
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Categories: IRS Debt Collection
