Tax Law Blog

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...

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

Involvement in tax fraud can lead to serious financial penalties and prison. The Internal Revenue Service (IRS) uses specific terms to discuss and investigate fraud which are worth understanding from a compliance and litigation perspective.

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.