In Flint v. United States, 2022 WL 3593826 (Fed. Cl. 2022), the court held that the executors of an estate could not recover a six-figure "Title 26 miscellaneous offshore penalty" (MOP) the decedent paid to the Internal...more
9/1/2022
/ Audits ,
Breach of Contract ,
Foreign Bank Accounts ,
Income Taxes ,
IRS ,
Offshore Funds ,
Penalties ,
Remediation ,
Reporting Requirements ,
Self-Certification ,
Tax Penalties ,
Tax Returns ,
Willful Violations
Internal Revenue Service (IRS) Commissioner Chuck Rettig on April 13, 2021, told a U.S. Senate panel that the tax gap in the U.S. may total $1 trillion per year. In his view, the increase from prior estimates is due, in part,...more
5/7/2021
/ Biden Administration ,
Congressional Committees ,
Congressional Investigations & Hearings ,
Corporate Taxes ,
Cryptocurrency ,
Income Taxes ,
IRS ,
Large Business & International Division (LB&I) ,
Offshore Funds ,
Proposed Legislation ,
Tax Audits ,
Tax Evasion ,
Tax Haven ,
Tax Loopholes ,
Tax Reform ,
Wealth Tax