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Foreign assets in IRS’s crosshairs

Texans gearing up for April’s tax return filing deadline should be aware of recent modifications made to laws regarding taxes on foreign assets. In 2010, U.S. Congress passed the Foreign Account Tax Compliance Act (FATCA), which changes how the IRS verifies tax return data. IRS agents will now have increased […]

IRS

IRS Announces Increase in Number of Audits

No one in Texas hopes to get a notification telling them their tax return is being audited. The very mention of an audit is dreaded by most people. Not only that, but if an audit is not handled properly, it can be extremely stressful and sometimes result in an even bigger tax […]

Audits

Texas investor found guilty of tax evasion

An apparent misunderstanding has a Schertz, Texas, real estate investor facing probation after being found guilty of tax evasion in another state. The 73-year-old man owned National Real Estate Traders Inc., which operated in the St. Paul, Minnesota, area for many years. Investigators determined that the man and his wife […]

Tax Evasion