Tax Law Blog

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...

Singer-songwriter Michael Jackson died in 2009, but the battle over his estate lives on within his family and with the Internal Revenue Service (IRS).

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?

The budget increase provided by the Inflation Reduction Act (IRA) to the Internal Revenue Service (IRS) continues to pay off. IRS Commissioner Danny Werfel and Treasury Secretary Janet Yellen recently provided an update on ongoing collection and...

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...

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...

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.

The Internal Revenue Service (IRS) is synonymous with tax collection and tax enforcement. The enforcement unit within the IRS that investigates and pursues tax crime is called Criminal Investigation (IRS:CI).

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...