The U.S. Supreme Court recently ruled that even though a taxpayer invested in a tax shelter based on advice that turned out to be incorrect, the IRS is still able to assess the maximum […]
From the chandler tax attorney Tag
The IRS continues to remind taxpayer of their foreign asset filing obligations. The obligations apply to U.S. citizens, resident aliens, including those with dual citizenship, and those living abroad. In fact, the filing deadline […]
The Internal Revenue Service recently released their views on the proper tax treatment of virtual currencies such as bitcoin. These virtual currencies are often used as a medium of exchange for payment for goods […]
The Internal Revenue Code (Section 7501) states that payroll taxes withheld from an employee’s paycheck are held in trust for the United States and must be paid to them. Withholding these funds and then […]
The IRS cracked the bank secrecy laws of Switzerland and it is aggressively pursing tax evaders and their Swiss enablers. But there has never been any reason why the IRS can’t head east and […]
The IRS has announced a program for small businesses that is similar to the Large Business Fast Track Settlement (FTS) Program. The IRS’s stated goal of the FTS is to “ resolve tax differences at […]
Billionaire Beanie Babies founder Ty Warner recently agreed to pay $53.6 million in tax evasion penalties and plead guilty to civil tax evasion. This is the largest foreign account penalty ever reported. Mr. Warner, […]
Your taxes are complete and the news isn’t as good as you’d hoped – you owe. But you don’t have the funds to pay right now. Despite how it feels, it may not be […]
This is the fifth, and final, in a series of blogs discussing the rules for expatriates under the 2008 Heroes Earnings Assistance and Relief Tax (HEART) Act. Prior blogs regarding this topic have discussed […]
This is the fourth in a series of blogs discussing the rules for expatriates under the 2008 Heroes Earnings Assistance and Relief Tax (HEART) Act. As previously stated in our prior blogs, there are […]