Tax Law Blog

American companies have done it. Why can’t you? It’s inversion, the tax-avoidance strategy used by Burger King, Medtronic and other giants to avoid paying the Internal Revenue Service. By merging with a foreign corporation, the U.S. companies can...

The odds, the statistics and simple logic are all in your favor. Despite all of that, you might find yourself being audited by the Internal Revenue Service. If you find that you’ve beaten the odds and defied logic and become a statistical anomaly,...

For those residents who might have been keeping assets in the Cayman Islands comes some possibly unsettling news: the Department of Justice recently announced guilty pleas from Cayman National Securities Ltd. and Cayman National Trust Co. Ltd. The...

Audit roulette is not as inevitably deadly as Russian roulette, but if you wind up getting audited, you might feel the difference between the two is not significant. Audit roulette is when a taxpayer knowingly underpays the Internal Revenue Service...

In our previous post on our Cleveland tax blog, we discussed some of the occasions and circumstances in which it makes sense for taxpayers to hire tax professionals. As regular readers will recall, we mentioned required FBAR (Report of Foreign Bank...

That pile of tax forms on your desk is familiar, yet also alien. You know you have to tackle it by April 18 this year (instead of the traditional April 15). About three out of five taxpayers turn to tax professionals to help fill out the forms and...

Hunting season is open. The prey? Tax deductions. Everyone wants to bag some by April 15. Forbes recently ran an article describing some unusual, though wholly legitimate tax deductions. Not all of the deductions will work for all people. In fact,...

There’s no getting around it. April 15th shows up every year and with it, the Internal Revenue Service. And every year, the IRS rolls out its “Dirty Dozen” list of tax scams of which taxpayers should be aware. This year’s list is topped by identity...

Today, I am sharing the article below posted from the United States Department of Justice that may hit home for some business owners. Don't forget that the IRS means business when it comes to tax fraud. If the IRS cannot secure your tax returns, it...

No one knows exactly why record numbers of Americans are renouncing their citizenship. A recent article in Forbes floats a couple of theories, including the fact that the Internal Revenue Service now holds the power to revoke passports. Another...