Tax Law Blog

New research finds the Internal Revenue Service (IRS) is aiming civil audits at low wage earners, demonstrating a confounding approach to a group less known for tax fraud than those with greater wealth.

IRS:CI has a unit that responds to specialized areas of tax crime. The International Tax and Financial Crime (ITFC) group focuses on fraudulent activity involving offshore tax holdings, financial institutions, and foreign bank accounts.

Does deciding not to report income earned off the table really matter? It is not like stealing—or adding a fictitious dependent, right? What exactly constitutes a tax crime to the Internal Revenue Service (IRS)?

To the big surprise of no one, Credit Suisse is back in the headlines after a whistleblower leaked information about 18,000 Swiss bank accounts.

For a number of reasons, you may be interested in opening a foreign financial account. Stateside, it is pretty easy to open a bank account but offshore, it pays to know a little bit about the system.

Whether you live abroad or stateside, there are advantages to using foreign bank accounts. Like offshore tax investments, it is important to know what you are doing, and to be aware of potential downsides of these types of accounts.

In a speech, the U.S. Treasury Secretary pointed out that the U.S. is a leader—in tax fraud and money laundering.

Tax crime pays—for a while. A North Carolina couple recently learned how expensive tax fraud can really be.

Understanding how an Internal Revenue Service (IRS) civil or criminal tax audit is conducted can help if you are contacted by them.

With tax season underway, don’t forget your annual FBAR report is due in April too.