As part of its increased focus on bringing to light areas of under-taxation dating to late 2009, the Internal Revenue Service (IRS) pledged to closely review tax returns of 6,000 businesses. This close examination of business tax filings has been undertaken with the intention of studying areas of compliance and […]
Author: Lawrence Brown
The monetary penalty for failure to file an income tax return is a maximum of 25 percent of the unpaid taxes. Criminal prosecution is also possible, however, if tax authorities believe the failure to file was a willful attempt to evade taxes or commit tax fraud. In this post, we […]
A New Year’s resolution can be a way to finally focus on and tackle a problem that has been nagging at you. If you are a U.S. citizen or resident with financial interests in offshore bank accounts or other overseas assets, make 2017 the year you talk to an attorney […]
As part of its National Research Program begun in 2010, the Internal Revenue Service (IRS) has examined tax returns of thousands of small, medium-sized and large businesses looking for areas of under-compliance and under-taxation. These special audits focused on several areas of concern including the following: Worker misclassification Fringe benefits […]
Employers often try to evade dealing with withholding taxes and paying employee benefits by classifying workers as independent contractors. The IRS, on the other hand, is aggressively engaged in searching for pockets of taxes that the government is missing through current business practices. Both the employer and the worker classified […]
Be ready to cope with the reality of the IRS’s employment tax audit initiative and its potential impact on your business. Whether your business has been audited, is under investigation or has been notified of alleged violations, contact Brown, PC. Attorney Lawrence Brown, a former prosecutor with the U.S. Department of […]
In recent years, it’s almost become an annual ritual, waiting to find out at the end of the year whether Congress will continue various temporary tax breaks known as “tax extenders.” It happened last year and the year before that. This year, however, things are a bit different. Congress adjourned […]
The internet – and the burgeoning digital marketplace it has created – has broadened horizons and opened doors that wouldn’t have been imagined just a generation ago. With just a few clicks of a mouse, you can do business with companies across town or across the globe. This brave new […]
“A rose by any other name would smell as sweet,” goes Shakespeare’s famous line from Romeo and Juliet. The idea is the essence of thing is what matters, apart from the name it is given. Still, names for things do contain important distinctions. In this post, let’s consider the distinction […]
Few groups within the IRS have been spared cuts as funding has failed to keep up with inflation. After losing almost 21 percent of its staff between 2012 and 2015, Appeals has needed to reorganize. Three functional offices – Collection, Examination and Specialized Examination Programs and Referrals – replace two […]