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Author: Lawrence Brown

IRS closes OVDP, but streamlined procedures continue

Over the last decade, offshore account compliance has been at the top of the IRS priority list. The first of the Offshore Voluntary Disclosure Programs began in 2009. The strong interest led the IRS to create several iterations over the years. As of late 2016, the IRS reported that 55,800 taxpayers had […]

Tax Evasion

Manafort trial offers explanation of “reasonable doubt”

The government has accused Paul Manafort, former campaign chairman for President Donald Trump, of various tax crimes. The accusations include 18 counts of tax evasion, bank fraud and failure to report foreign assets. The case has garnered media attention due to its connection to Robert Mueller’s investigation of allegations of […]

Tax Crimes

IRS provides guidance for tax professionals on data security

The Internal Revenue Service (IRS) recently released a publication that provides tips for data security for tax professionals. The publication is the result of a recent Security Summit that focused on the issue. How serious of an issue is data theft from tax practitioners? Tax professionals that are not taking an […]

IRS

IRS fines tax practitioner for “false and misleading advertising”

The Internal Revenue Service (IRS) recently concluded an investigation of a tax preparation professional. The investigation resulted in various allegations, including violation of the professional rules of conduct. More specifically, the agency accused the tax practitioner of violating Treasury Department Circular No. 230. The government does not allow tax practitioners to use […]

Tax Crimes

How will Texas tax online transactions?

Earlier this year the Supreme Court of the United States (SCOTUS) ruled states can impose a tax on online transactions on out of state merchants. SCOTUS also noted in the case behind the ruling, South Dakota v. Wayfair, that states could not impose a tax in a manner that would result […]

Tax Controversy 

FAQs about IRS taking away passports

The Internal Revenue Service (IRS) recently reminded taxpayers with outstanding tax debt what is at risk. More specifically: their passports. A failure to pay off tax debt can result in the loss of the taxpayer’s passport. How can the IRS take away a taxpayer’s passport? The federal agency was granted this […]

IRS

IRS accuses four of tax crime based on FATCA violation

The Foreign Account Tax Compliance Act (FATCA) is a tool the government uses to help better ensure United States citizens comply with tax obligations. This law requires foreign financial institutions to report information about United States customers to the U.S. government. Under this law, a foreign bank must report any […]

Tax Evasion