Taking A Cooperative Approach To Your Legal Issues
So, you did not file income tax returns with the IRS and are wondering what is going to happen, when will the IRS catch up with me, etc. Generally, the answer is nothing good happens and the IRS will, eventually, catch up. The Internal Revenue Code gives the IRS authority to use all information available to make an assessment against…
I am pleased to republish, with the permission of Tax Analysts, this excellent letter by Richard Westin. Mr. Westin comments on the issues taxpayers face when complying with the complex rules covering voluntary disclosures and OVDI. To the Editor: For reasons of its...
Most of you will recall that I am working with a group of local tax practitioners to form a 501(c)(3) virtual, public interest law/accounting firm (I use this term loosely and cautiously) solely for the purpose of supplying pro bono professional tax services to...
I have written before how procrastination can be a killer when it comes to taxes. It is fair to say that in most cases, if the IRS considers itself compelled to use the enforced collection tool of issuing a levy, chances are it is the direct consequence of procrastination. Tax issues must be addressed as though they are a top…
I am happy to repost an article by Lynne Swanson whose blog is The Maple Sandbox and Victoria Ferauge who publishes the blog, The Franco-American Flophouse. Their article, "FATCA: Simple Premise Gone Terribly Wrong" originally appeared in The Hill’s Congress Blog on...
It should be obvious to practitioners and taxpayers alike that the IRS offshore voluntary disclosure program first announced in 2009, is not for everyone. It is expensive, time consuming and sometimes nerve-wracking. But for those taxpayers and practitioners who still...
For this post, I am happy to republish a recent blog by Virginia La Torre Jeker, J.D. ([email protected]) my able colleague on the ACA Professional Tax Advisory Council who writes about increased efforts on the part of the State Department to check with the IRS before...
IRS? CIA? FBI? Most kids in school know what these acronyms mean. But NSA? What’s that? National Security Agency? What do they do? Although it has been an 800 pound gorilla in the room for quite some time, it is only now, with the recent disclosure and intimation of...
The fallout from the IRS/Tea Party Scandal will be felt for a long time. The damage done to the IRS as an institution once revered as probably the best tax collector in the world, is only part of this disaster. The real fallout will be felt for years to come, all over...
On January 30 and February 1, I chaired a FATCA conference in Miami which was put on by a company called Marcus Evans out of London which is a for profit business. The conference was attended by a diverse group of banking officers, in-house tax counsel to large...
