What is a Tax Crime? Tax crimes include all crimes that are under the jurisdiction of the Criminal Investigation Division (CID) of the IRS. While there are dozens of criminal offenses defined in the Federal tax code, they generally all fall under one of two categories: crimes related to the filing of the return and […]
Tax evasion stories aren’t covered in the news very often but the IRS still aggressively pursues tax cheats, particularly those who are accused of serious crimes such as filing a false return. It’s wise for all taxpayers to learn about the procedure and the possible penalties that come along with being prosecuted for tax fraud. […]
When it comes to committing tax fraud and other tax crimes, the IRS can leave you with nothing and even throw you in jail. Here’s some advice on how to protect yourself from the IRS, what to expect, and how to handle it. 1. Get a lawyer. If the IRS criminally investigates you, this is […]
Recently, the IRS has made the Report of Foreign Bank and Financial Accounts (FBAR) penalty enforcement a top priority and this is alarming the taxpayers worldwide. Even in the course of every routine domestic IRS audit, IRS agents are looking for undisclosed foreign bank accounts. In this blog I will discuss some things that you […]
Topics Covered: 1. The Story Of Bradley Charles Birkenfeld And How Because Of His Actions No Longer Can Foreign Accounts Be A Secret. 2. What is an undisclosed foreign bank account and what are the penalties for not reporting foreign income? 3. Nine Things That Will Elevate Your Chances Of Being Targeted By IRS For […]
If you have fallen behind on your U.S. expat taxes and the IRS has contacted you about delinquent tax returns, what should you do? Here are a few tips on what to do next. Tip #1 – Do Not Ignore The Notice. The worst thing you can do is ignore the notice. If you don’t […]
Given all the press surrounding the “Report of Foreign Bank and Financial Accounts” or so-called FBARs, by now we all know about what should be reported on an FBAR, right? Well, given the Internal Revenue Service’s latest assertion in United States v. John C. Hom (Case No. C 13-03721 in the U.S. District Court for […]
The United States Department Of Justice (DOJ) has received 106 requests from Swiss entities to participate in a settlement program aimed at ending a long-running probe of tax-dodging by Americans using Swiss bank accounts according to a senior US official. We previously reported that over 24% of secret accounts that were later voluntarily disclosed by […]
U.S. citizens and resident aliens, including those with dual citizenship who have lived or worked abroad during all or part of 2013 who will have a U.S. tax liability need to be mindful of their filing requirements in 2014. The filing deadline is Monday, June 16, 2014, for U.S. citizens and resident aliens living overseas, […]
Sometimes the tax consequences at a Federal level are different than that at the State level. Such is the case in California when dealing with a Canadian Registered Retirement Savings Plan (RRSP). As explained in Revenue Procedure 89-45, a Canadian RRSP is not an Individual Retirement Account (IRA) because “these plans do not meet the […]
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