Entries by Tax Attorney

Paul Manafort and Richard Gates indicted on 12 counts including tax crimes for failure report foreign income and failure to disclose overseas bank accounts

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Paul Manafort and Richard Gates, two former top campaign officials for President Donald Trump, have been indicted on 12 counts, according to documents made public on October 30, 2017, making them the first people to be charged in special counsel Robert Mueller’s probe into 2016 foreign election interference.  In a 31-page indictment, federal prosecutors alleged […]

California Taxpayers Impacted By Wildfires Receive More Time to File And Pay

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With so many people whose lives were disrupted by the California wildfires, it is welcome relief that the Federal and State Tax Agencies are providing extra time to taxpayers to meet their tax obligations. Internal Revenue Service (“IRS”) The IRS announced that victims of wildfires ravaging parts of California now have until January 31, 2018, […]

How to Stop IRS Collection Efforts

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The IRS is the world’s largest and most powerful collection agency (and the staggering fact that Congress has allowed them to start outsourcing debt collection to private third parties doesn’t change this). Therefore, if you owe the IRS money, there is nowhere to run and no place to hide. It is only a matter of […]

What is Innocent Spouse Relief and How Can You Claim It?

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Although more couples these days are choosing to customize and personalize their wedding vows and break with the traditional “to honor and obey” language, it’s a safe bet that not even IRS agents who tie the knot promise not to burden their betrothed with an unfair tax liability. However, that is indeed the financial problem […]

Warning: Don’t Get Trapped by These 4 Myths About the IRS Offer in Compromise Program

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The adage “a little knowledge is a dangerous thing” is vividly — and sometimes catastrophically — illustrated when it comes to anything and everything to do with the IRS. Indeed, the amount of so-called good advice available on the web and across social media that is partially or wholly incorrect is staggering, and many taxpayers […]

4 Costly Myths Taxpayers Have About the IRS’s Offshore Voluntary Disclosure Program (OVDP)

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People who have undisclosed income in offshore accounts can — and frankly, should — take advantage of the IRS’s Offshore Voluntary Disclosure Program (OVDP). As the term suggests, the program allows taxpayers to voluntarily disclose all foreign accounts and fully clear their tax liability (including taxes owed, interest and penalties), instead of risk getting flagged […]