Tax Law Blog

Reminding us of the importance of properly prepared tax documents, the Internal Revenue Service (IRS) recently obtained a guilty plea from one tax professional and sued to shut another one down for preparing fraudulent tax returns.

At the recent 34^th annual National Institute on Criminal Tax, the Department of Justice (DOJ) announced that it intended to impose stricter sentences in Foreign Bank Account Report (FBAR) cases. Under these new rules, violators could be subjected to...

The so-called Paradise Papers are getting a lot of press.  What does this set of leaked files mean to the worried wealthy?

Ongoing budget cuts appear to be weakening the enforcement efforts of the Criminal Investigation branch of the IRS, according to its most recent annual report.

The Internal Revenue Service (IRS) and United States Department of Justice (DOJ) are continuing their crack down on tax compliance for those who are avoiding their obligations through the use of foreign bank accounts. The most recent efforts involve...

For overseas holdings in excess of $10,000, US residents are required to file a Report of Foreign Bank and Financial Accounts (FBAR). One Connecticut man, with over $28 million in overseas accounts, failed to do so and has pleaded guilty to the...

Those who leave the United States and take up residence in another part of the world may believe that they are no longer required to pay taxes in the United States. This belief is generally untrue. Similarly, the children of parents that are...

It's a long-time notion that rich Americans stash their cash overseas accounts to avoid paying their dues to Uncle Sam. But, those lofty ideas are quickly fading. Three Southern California residents have been sentenced to prison for hiding millions...

Tax season has come to a close, providing a good opportunity to review the process taken by the Internal Revenue Service (IRS) when reviewing taxes. Although most taxpayers likely filed in compliance with tax law, there are those who have not. At...

Tax season is upon us. It is easy to make mistakes when putting together tax forms, but some errors are more difficult for the Internal Revenue Service (IRS) to overlook than others. Three blunders that often cause suspicion include: