Summons. The word itself is enough to get virtually anyone’s attention, regardless of how much he or she knows about the law. That is entirely understandable. After all, the word “summons” is a long-standing legal term for requiring someone to appear in a court proceeding. In the context of tax […]
Given the complexity of so many tax laws, paid tax preparers are vital to many people and businesses. Recognizing this, the IRS has been pushing for the past three years to initiate a competency testing program for preparers. The agency naturally hopes that orderly regulation of preparers will make the […]
The term “tax shelter” is sometimes used pejoratively to refer to improper attempts to avoid tax. Such statements fail to make the crucial distinction between tax avoidance, on the one hand, and tax evasion on the other. Tax avoidance is perfectly legal. After all, few people want to pay more […]
It isn’t only tax fraud that can result in criminal tax charges. Failure to file an income tax return at all can do so as well. From time to time, the defendants in such cases are high-profile people. A recent example is the actor Wesley Snipes, star of “White Men […]
Historically, privacy was always a basic feature of Swiss bank accounts. The premise was that no government had the right to know the contents of accounts or other information about their holders. Today, however, the privacy protections that formerly came with Swiss and other foreign accounts are changing profoundly. The […]
When the IRS says you have unpaid income taxes, several different scenarios can ensue. It may be that the agency is in error, and that aggressive tax litigation can resolve the dispute in your favor. In other cases, the result can be tax debt and possibly civil penalties. Some cases […]
In the traditional children’s story of the “boy who cried wolf,” an attention-seeking adolescent raised too many false alarms about dangers from a threatening beast. Because he had been wrong so many times before, the boy ended up not getting the response he needed when he truly was in danger. […]
On a national scale, the numbers on suspected tax fraud get a bit mind-boggling. Last year, the IRS said it identified about two million such cases. Is criminal tax fraud really that common? Or does the IRS use fraud detection systems that are overly sensitive? The high number of cases […]
Tax evasion charges can take many forms. Sometimes they involve reporting requirements on offshore accounts. In other cases, there may be questions about whether a taxpayer properly reported income. It can be easy to underreport, especially if you are self-employed. The same challenge is present for those who take side […]
On June 28, the U.S. Supreme Court upheld the individual mandate portion of the federal healthcare law. When the law takes full effect, filing a tax return will include providing proof of health insurance. Those without insurance will be subject to penalties that must be paid to the IRS. What […]