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Category: Articles

New York City Takes Aim at Tax Evaders

New York City recently got clearance from the U.S. Treasury Department to use a sophisticated financial data tracking service to aid in municipal tax evasion investigations. The Financial Crimes Enforcement Network, or FinCEN, is a comprehensive database of financial information. FinCEN can track major cash transactions, suspicious activity and the […]

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CP 2000 Notices

As the tax season approaches, millions of taxpayers will receive unexpected notices from the IRS. Often, these notices, technically referred to as Notice CP 2000, state that the income or other information provided on the previous year’s income tax return has been adjusted by the IRS. This is the most […]

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New IRS Rules for Tax Preparers

The IRS has issued new rules amending section 1-6109-2, requiring paid tax preparers to be registered with the IRS. The final regulations provide that for tax returns or refund claims filed after December 31, 2010, tax return preparers must obtain and use a preparer tax identification number (PTIN), rather than […]

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Reporting

The Trust Fund Recovery Penalty for willful withholding tax violations Estimated tax payments: April 15 is not the only day taxes may be due Unpaid Employment Taxes: Could Uncle Sam Go After You Personally? How To Negotiate Back Taxes With The IRS Accused of fraud or false statements on a […]

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World Leaders Ramp Up International Tax Evasion Investigations

In light of the struggling world economy, world leaders are focusing their efforts on collecting unpaid taxes from those who have foreign assets and offshore accounts. Tax evasion is considered an international problem and countries have been using a variety of approaches to battle it. International Tax Collection Efforts Countries […]

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Voluntary Disclosure and Offshore Accounts

The Internal Revenue Service has announced a new program that would potentially lower penalties for offshore accounts. This is a six-month program, announced on March 23 and in effect until September 23, 2009. In President Barack Obama’s budget, he proposed collecting $210 billion in the next ten years from international […]

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Vodafone to Appeal Indian Court Ruling

Vodafone, one of the world’s leading telecommunications companies, recently announced that it would appeal a $2.6 billion tax bill issued by an Indian court. According to the Associated Press, the Bombay High Court ruled that the company owed taxes on an $11 billion transaction in which a Dutch subsidiary of […]

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