A new law signed recently by President Obama will change the filing deadline for reporting foreign financial assets, bringing it into alignment with the standard April 15 deadline for filing income tax returns. The change will take effect starting with the 2016 tax year. Who has to file an FBAR? […]
On behalf of Lawrence Brown A specialized unit conducts extensive examination of people and entities at the highest levels of wealth. According to Investment News in September 2017, the IRS budget has decreased by almost one-fifth since 2010 (adjusted for inflation) and its workforce by almost 15 percent. Still, the […]
Brown, PC – Federal Asset Forfeiture – Video Transcript Brown, PC – IRS Collection matters – Video Transcript Brown, PC – Offshore Account Compliance – Video Transcript Brown, PC – Firm Overview – Video Transcript Tax Control & Litigation Lawrence Brown Fort Worth Texas Video Transcript Planning Fort Worth, Texas […]
Do you need to know about an IRS investigation to get charged with obstruction of justice? It may seem like the answer is obvious. After all, how can throwing away old records be tantamount to a crime if you didn’t know the Internal Revenue Service (IRS) was conducting an investigation? […]
On behalf of Lawrence Brown The IRS is serious about taxing actual increases in value or income realized through transactions, employment and investment involving virtual currencies. The IRS treats Bitcoin and similar cryptocurrencies like real currency when used and valued in ways equivalent to traditional money. For example, if a […]
Project Fresh Start – Texas Taxpayer Amnesty Program A Chance for Businesses to Start Over If you own or operate a Texas-based company or an out-of-state company doing business in Texas, you know that you are required to pay many types of state and local taxes. If for any reason […]
On behalf of Lawrence Brown The data was submitted to comply with a court-ordered summons. We recently posted an article about how the IRS views the taxability of transactions using bitcoin and other cryptocurrencies. In that article, we described the IRS position that gain resulting from transactions in cryptocurrencies that […]
In several high-profile decisions in recent years, the U.S. Supreme Court has affirmed and strengthened the rights of corporations as legal persons. In Citizens United (2010), the Court held in favor of the free speech rights of corporate entities. In Hobby Lobby (2014), the Court found in favor of closely-held […]
On behalf of Lawrence Brown Taxpayers should sit up and take notice that their digital currency transactions may be subject to taxation. On March 23, just before Tax Day 2018, the IRS issued a news release reminding U.S. taxpayers that the agency expects them to properly report cryptocurrency transactions. According […]
If your business is considering using a Professional Employer Organization this is good news. A Professional Employer Organization (PEO) can lower business expenses related to human resource administration as well as health and unemployment insurance costs by creating a bigger pool of employees. A PEO works through a co-employment arrangement. […]