Tax Law Blog

If it sounds too good to be true—it probably is. That is the message the Internal Revenue Service (IRS) wants to communicate to U.S. consumers about unscrupulous pop-ups marketing Offers in Compromise (OIC) as an easy route to shedding tax debt.

Years after the stunning revelations fueled by the Panama Papers, Nordea Bank was charged by Danish authorities with involvement in $3.7 billion in questionable transactions. Stateside, Nordea recently settled allegations by New York authorities...

Offshore tax havens, foreign bank accounts, and shell companies are legitimate tools often used for wealth management, asset protection, and tax planning. For many, these strategies provide essential support in navigating complex global financial...

Investigation into the Employee Retention Credit (ERC) remains a focus of the Internal Revenue Service (IRS). The agency recently reopened the disclosure program for businesses seeking to address improperly filed ERC applications and avoid a future...

Each year, the Internal Revenue Service (IRS) compiles a list of prominent tax schemes that scammers use to exploit individuals and businesses. These schemes can arrive through email, text messages, and even traditional mail. This year, the IRS has...

If you have a foreign bank account, hold assets or have an interest in an offshore tax account, you are required to file a Report of Foreign Bank and Financial Accounts (FBAR). If you failed to file in the last year, the Internal Revenue Service...

The Department of Treasury is taking aim at the basis-shifting practices of partnerships.

Nonresidents of New York State may be asked to pay taxes if New York state decides they are spending enough time in the state to qualify.

To the dismay of those with foreign business holdings, the Supreme Court of the United States (SCOTUS) upheld a transition tax on the unrealized profits of foreign business entities owned by American taxpayers.

Each year, the Internal Revenue Service (IRS) releases an annual list of the schemes and scams being used against U.S. taxpayers every day. It's called the Dirty Dozen. The list is of interest to those who want to avoid being scammed and to those...