Continuing its daily “countdown” of the annual “Dirty Dozen” tax schemes, the Internal Revenue Service announced that return preparer fraud is the fourth entry on that esteemed list for 2018. With more than half of the...more
Today the Internal Revenue Service announced the third entry on its annual “dirty dozen” list of the tax schemes most commonly encountered by taxpayers during tax filing season. Even though instances of tax-related identity...more
Today the Internal Revenue Service announced the second entry on its annual “dirty dozen” list of the tax schemes most commonly encountered by taxpayers during tax filing season. The IRS said that aggressive phone scams where...more
With the 2018 tax filing season in full swing, the Internal Revenue Service today announced that it would unveil its annual “Dirty Dozen” tax schemes over the course of the next twelve consecutive days. At the top of this...more
The Justice Department’s Tax Division has recently announced a major policy shift that will invariably result in longer jail sentences for individuals convicted of failing to report their offshore bank accounts on the FBAR...more
Earlier this week the United States Tax Court announced that Judge Maurice B. Foley has been elected Chief Judge to serve a two-year term beginning on June 1, 2018.
Judge Foley was appointed President William J. Clinton on...more
On Friday, Coinbase, the largest U.S.-based Bitcoin exchange, notified approximately 13,000 of its customers that it would be turning over their account information to the Internal Revenue Service within 21 days. This...more
The Internal Revenue Service has assembled a specialized team of criminal investigators to build criminal tax evasion cases involving users of Bitcoin and other cryptocurrencies, according to a Bloomberg article entitled “IRS...more
A vocal critic of the Internal Revenue Service’s passport revocation program, the National Taxpayer Advocate recently announced that she had issued hundreds of orders prohibiting the IRS from certifying taxpayers for passport...more
Lawmakers in Mississippi are tackling the pervasive use of automated sales suppression devices, commonly known as “zappers,” by businesses to hide a portion of their sales and thereby avoid paying sales tax. Zapper programs...more
The Internal Revenue Service said today that it successfully started accepting and processing 2017 federal individual income tax returns. More than 155 million returns are expected to be filed this year.
The filing...more
The Internal Revenue Service has reopened, following the three-day federal government shutdown that began at midnight on Friday, January 19, 2018. The following message has been posted on the IRS website instructing all...more
The Internal Revenue Service has announced that the nation’s tax season will begin on Monday, January 29, 2018. As is typically the case, the annual opening of tax season is accompanied by well-publicized enforcement actions...more
Individuals who owe more than $51,000 in back taxes are now at risk of losing their U.S. passports under a new law requiring the Internal Revenue Service to notify the State Department of taxpayers with “seriously delinquent...more
Coindesk is reporting that Coinbase — the largest U.S.-based Bitcoin exchange and the subject of a recently-concluded “John Doe” summons dispute with the Internal Revenue Service — is reminding its customers of their U.S. tax...more
The Internal Revenue Service announced today that the nation’s tax season will begin Monday, January 29, 2018 and reminded taxpayers claiming certain tax credits that refunds won’t be available before late February. The IRS...more
The Treasury Inspector General for Tax Administration (TIGTA) has reminded taxpayers to remain on “High Alert” during the coming tax filing season to avoid being scammed by criminals who impersonate Internal Revenue Service...more
The Internal Revenue Service advised tax professionals and taxpayers today that pre-paying 2018 state and local real property taxes in 2017 may be tax deductible under certain circumstances.
The IRS has received a number...more
Barely two months after being convicted of running a billion dollar illegal payday lending enterprise, professional racecar driver Scott Tucker was indicted today by a grand jury on federal charges of failing to report...more
Yesterday the International Consortium of Investigative Journalists released information from the corporate registries of four more tax havens that were included in the Paradise Papers investigation: Barbados, the Bahamas,...more
In the midst of the tax reform debate currently embroiling Congress, Senator Rand Paul (R-Kentucky) has introduced an amendment seeking to repeal the Foreign Account Tax Compliance Act (FATCA), an anti-tax evasion law enacted...more
The Internal Revenue Service has prevailed in its long-running dispute with Coinbase, the largest U.S.-based Bitcoin exchange, with a federal judge ordering Coinbase to comply with a “John Doe” summons seeking customer...more
Tomorrow morning (November 17) the International Consortium of Investigative Journalists (ICIJ) is set to release publicly the first set of comprehensive data from the recent “Paradise Papers” leak. The initial data will...more
On Friday, November 3, 2017, the IRS Large Business and International division (LB&I) announced the identification and selection of 11 additional compliance campaigns. In January 2017, LB&I unveiled its first 13 campaigns to...more
In a report to the President recommending actions to eliminate or mitigate burdens imposed on taxpayers by eight specific tax regulations, the Treasury Department indicated that it is considering possible reforms of...more