With tax season at its height, it can be very tempting for individuals filing their returns or even professional tax preparers to fudge the numbers a bit for a better refund. While many slight misstatements go overlooked by the IRS, when the agency does initiate an enforcement action, they come […]
It’s been nearly two weeks now since the Republican-controlled Congress was unsuccessful in its attempt to repeal the Affordable Care Act (ACA), despite campaign promises to do so. President Trump called it a learning experience. House Speaker Paul Ryan acknowledged that the ACA, also known as Obamacare, remains the law […]
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 […]
In many cases, if someone is told that they will be audited, it can lead to a lot of stress. Not only was the whole process of filing taxes stressful and tedious, but now you have to go through all of the numbers again and be able to prove that they […]
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 […]
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 […]
Falling behind or running into other trouble with keeping track of employment taxes and paying them over to the government is a problem for many employers. A new report from the watchdog agency for the IRS contains detailed information about the scope of the problem. In this post, we will […]
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 […]
It appears the old “location, location, location” adage for real estate holds true in the world of taxes as well. A recent study by professors out of two prestigious universities in the great state of Texas, the University of Texas at Austin and Texas A&M University, have found that the […]
It is no surprise that the Internal Revenue Service (IRS) is cracking down on those who have failed to become compliant with tax obligations for foreign assets. In fact, the federal agency continues to list attempts to hide assets through the use of foreign bank accounts as one of its […]