Alaska’s economy is dominated by the oil, natural gas, and fishing industries, resources which it has in abundance. Tourism is also a significant part of the economy and that is where you can find some classic Alaska bars but for some time now these bars have been under pressure to stay in business and to […]
This May Be Your One Last Opportunity to Avoid Criminal Prosecution and Increased Civil Penalties! Since July 1, 2014, the most feared U.S. legislation regarding international tax enforcement – Foreign Account Tax Compliance Act (“FATCA”) – is being implemented by most banks around the world. As part of this compliance, foreign banks from around the world […]
The IRS is using its extensive Big Data resources to pin-point their investigations to the wealthiest areas in the San Francisco Bay Area and Silicon Valley. The idea being that anyone who is selected for investigation in these areas will result in a higher tax liability than those who live in less affluent areas. The […]
Americans with Israeli bank or other financial accounts could face a tough tax season in 2015 if they do not come forward and disclose their assets to the IRS. Israeli banks have come under increased scrutiny by the IRS in regards to disclosing the accounts of their American clients. In particular, three Israeli banks- Bank […]
Despite IRS Commissioner John Koskinen’s warning of IRS Office Shutdowns, IRS computers are still operating 24/7 to check tax returns for errors and incomplete data, process refunds and identify returns that need to be scrutinized. It’s impossible to imagine the Internal Revenue Service or most other number-crunching agencies or companies working without computers. But when […]
Topics Covered: 1. Don’t Let The Recent Funding Cuts To IRS Give You A False Sense Of Complacency. 2. Target Los Angeles, California – Think You Can Hide From The IRS? 3. Did You Receive A Letter From Your Foreign Bank, Urging You To Report Your Account To The U.S. Government Under FATCA? 4. Questions […]
The U.S. Attorney’s Office in Los Angeles is taking on a pilot project to pin-point their investigations to the wealthiest zip codes in the L.A. metro area. The idea being that anyone who is selected for investigation in these areas will result in a higher tax liability than those who live in less affluent areas. […]
With just weeks remaining before the new tax season opens, Congress walloped the IRS with $341 million in budget cuts. That’s in addition to earlier slashes to the IRS budget of more than $1 billion since 2010, resulting in nearly 13,000 employee layoffs. Is that a wise choice or an act of spite toward an […]
This May Be Your One Last Opportunity to Avoid Criminal Prosecution and Increased Civil Penalties! Since July 1, 2014, the most feared U.S. legislation regarding international tax enforcement – Foreign Account Tax Compliance Act (“FATCA”) – is being implemented by most banks around the world. As part of this compliance, foreign banks from around the world […]
Topics Covered: 1. IRS Agent Seduced Me, Then Didn’t Help Me With Audit, Oregon Man Claims. 2. Your worst nightmare: An IRS audit. What the tax man looks for. 3. Questions from our listeners: a. I received an IRS Notice informing you that your return has been selected for examination. What should I do? b. […]
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