The Difference Between Fraud and Negligence in Income Tax Cases
The Internal Revenue Service estimates that only a minuscule percentage of tax crime convictions occur each year. However, the federal agency also estimates that roughly 17 percent of taxpayers...
View ArticleWhat’s Your Alien Tax Status and How Does It Affect Investment Property?
For tax purposes, a non-U.S. citizen is either a nonresident alien or a resident alien. All aliens are considered nonresident aliens, unless they pass the green card test or the substantial presence...
View ArticleThe Foreign Account and Tax Compliance Act: What Is FATCA?
In an effort to reduce persistent high unemployment rates resulting from the 2008 financial crisis, President Obama signed The Hiring Incentives to Restore Employment Act of 2010 (HIRE Act)1 to...
View ArticleBe Cautious When Choosing A Tax Preparer: Two Maryland Tax Preparers Guilty...
The Comptroller’s Field Enforcement Division and the Criminal Investigations Division of the Maryland Attorney General’s Office, working in tandem, investigated and prosecuted two more Maryland tax...
View ArticleSix Things to Know When You Owe the IRS
Owing money to the Internal Revenue Service can be stressful and overwhelming. It can cause even more concern when you don’t have the money to pay. But, what many are not aware of is that they have...
View ArticleComing Out of the Dark of International Tax Avoidance
The aroma of my strong Java coffee blended with the smell of the dark teak paneling of the conference room of my client’s office. I glanced at my U.S.-citizen client and then back to the two bankers...
View ArticleUntimely CDP Arguments Worth Consideration
The taxpayer in Berkun v. Commissioner1 ultimately raised two collection due process arguments too late for consideration on appeal, but the Eleventh Circuit apparently found them worthy enough to...
View ArticleIs Jail a Possibility If You Fail to Pay Your Taxes?
It is possible for some people to have genuinely overlooked their tax deadline and not paid their taxes that year. And in the case of other individuals, they may have neglected to pay taxes over the...
View ArticleTax Court Lacks Overpayment Jurisdiction in CDP Cases When Statute of...
On September 11, 2018, the Tax Court in McLane v. Commissioner ruled that the Tax Court lacked overpayment jurisdiction under Internal Revenue Code (IRC) §6512(b) where Petitioner failed to raise the...
View ArticleDo You Pay Taxes on Settlements?
When resolving litigation, tax planning should always begin before settlement agreements are executed; otherwise, you risk losing money. With the help of an experienced tax professional, you can...
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