Entries by Tax Attorney

IRS Commissioner Announces The Agency Is On Track To Meet FATCA Deadline Of July 1, 2014 To Enforce Compliance Of Foreign Banks To Disclose U.S. Account Holders To IRS

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Last week, IRS Commissioner, John Koskinen, announced that the agency is right on track in implementing the non-discretionary legislative mandates of the Foreign Account Tax Compliance Act, which is more commonly known as FATCA. The significance of this law enacted as part of the Hiring Incentives to Restore Employment Act of 2010, P.L. 111-147, requires […]

2013 U.S. Expat Tax Updates for Americans Living Abroad

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As expats begin the task of gathering documents for their U.S. tax return preparation, here are some important updates to keep in mind. Foreign Earned Income Exclusion (“FEIE”) The Foreign Earned Income Exclusion is a valuable tax benefit that adjusts for inflation each year. For tax year 2013 the FEIE was $95,100 and for tax […]

IRS Warning: Beware Email Phishing Scheme Falsely Claiming to be from the Taxpayer Advocate Service

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From time to time the IRS issues consumer warnings on the fraudulent use of the IRS name or logo by scammers trying to gain access to consumers’ financial information in order to steal their identity and assets. When identity theft takes place over the Internet,it is called phishing. Suspicious e-Mail/Phishing Phishing (as in “fishing for […]

KahnTaxLaw on the ESPN Mr. Credit show – March 27, 2014

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Topics Covered: 1. Protect yourself: Scammers targeting taxpayers, including recent immigrants, throughout the country. 2. Types of audits that the IRS conducts and deadline to finish an audit. 3. Top 10 “red flags” that could increase the chance you’ll be targeted for an audit. 4. Will the IRS punish me if I hire a tax […]

Top Questions On IRS Audits

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Many people have approached me with questions on IRS audits and so I have taken the most popular questions and laid them out in this blog with my response. 1. I received an IRS Notice informing you that your return has been selected for examination. What should I do? The fact that your return has […]

Received A Notice Of Deficiency To Appeal IRS Proposed Adjustments To The U.S. Tax Court? Let us help you

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Before adjustments from an audit can be finally assessed, a taxpayer must be given the right to appeal to the United States Tax Court if the taxpayer should disagree with the findings of the IRS audit. The Appeals Office (or in certain cases the IRS agent) will issue a “90-day Letter” to a taxpayer, which […]