Tax Law Blog

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...

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).

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.

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.

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...

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...

The State of Massachusetts recently instituted a tax amnesty program. Ohio had to cancel its plans for a tax amnesty program in 2023 given the state financial outlook. What do these programs offer taxpayers?

There is an expectation by the Internal Revenue Service (IRS) that U.S. persons are aware that their income is taxed on a global basis—although the U.S. is one of very few countries that do so. Failure to file required reporting on assets outside of...

A successful businessman crosses the line into employment tax fraud and is going to prison. A short but sadly common story for some individuals responsible for paying over employment taxes to the Internal Revenue Service (IRS).

Each year, the Taxpayer Advocate Service (TAS) presents legislative recommendations to Congress as part of its Annual Report. TAS recently delivered its recommendations for 2024 to the legislature.