When a tax debt goes unpaid, the IRS imposes more than just penalties—interest begins to accrue immediately and compounds daily. This interest is not discretionary; it is mandated by law and continues until the full balance is satisfied. For...

Read More

Filing taxes incorrectly or incompletely is a problem for the Internal Revenue Service (IRS). Failure to pay or file forms can be costly to a taxpayer or their company.

Read More

Some tax return errors are mistakes, some are not. How do you know where you stand with the Internal Revenue Service (IRS) if you think there is a mistake on your personal or business returns, or if you know there is an intended error on your tax...

Read More

With seven thousand workers fired, and a bigger round of firing ahead, it is not clear what the Internal Revenue Service (IRS) will be prioritizing in the future.

Read More

To counter tax fraud and tax evasion, the Internal Revenue Service (IRS) requires individuals who have money in a foreign bank account or offshore tax haven to file specific reports. Those reports include the Foreign Account Tax Compliance Act...

Read More

While living abroad may be an adventure for U.S. expatriates, it does not relieve the annual filing of a tax return or the filing of a Report of Foreign Bank and Financial Account (FBAR).

Read More

A “card room” is a seemingly quaint term for a place where people mix, mingle, and play cards. One California card room got a fast lesson in financial reporting that resulted in a Consent Order and a $900,000 fine.

Read More

The former senior vice president and general counsel of Moody’s (a financial services company that provides credit ratings, research, and risk analysis) was sentenced to prison for failure to file his tax returns.

Read More

The Internal Revenue Service (IRS) is empowered to collect duly owed taxes from U.S. persons. As most know, the IRS readily applies penalties on taxes that are not paid properly. Taking a deeper look into IRS penalties may help you avoid them in the...

Read More

Collection and payment of employment taxes to the U.S. Treasury funds programs like Social Security, Medicare, and federal unemployment. Failure to withhold and turn over payroll taxes can lead to a penalty against those responsible, which can be...

Read More

Subscribe to Email Updates

Posts by Topic

see all