Tax Law Blog

From President Obama's earliest days in office, he made it clear that the administration would crack down on people who had previously evaded taxes through undeclaredoffshore bank accounts. To encourage people with undeclared accounts to come...

The Department of Treasury's Financial Crimes Enforcement Network (FinCEN) has issued an additional extension on the deadline to file aReport of Foreign Bank and Financial Accounts,better known as an FBAR. According to FinCEN, this new extension...

A study undertaken by the federal Treasury Inspector General for Tax Administration shows that a major tax penalty relief program offered by the Internal Revenue Service (IRS) has been grossly underutilized. The program, known as the First-Time...

The Chicago-based entrepreneur who created Beanie Babies was charged with felony tax evasion recently for allegedly failing to report millions of dollars of income, which authorities claim he hid in a secretoffshore bank account.