Los Angeles Tax Attorney: Here is a quick summary of a recent US TAX COURT case against the Internal Revenue Service . The ruling on this case may apply to other documents filed with the tax court or the IRS including late filed FBAR Voluntary Disclosure Program. Tax Court Petitioners…
Foreign Bank Account Tax Amnesty Attorney: Failure to file FBAR can have devastating consequences to a taxpayer. We attached a summary of potential penalties and criminal tax exposure related to an unfiled FBAR- FBAR Tax Penalty Summary. We’ve been receiving calls from stressed taxpayers regarding their unfiled FBAR- IRS Form…
FBAR Tax Attorney: Internal Revenue Service IRS issued a statement this week stating that they will be pursuing foreign bank accounts held by US taxpayers in other countries including South Korea, Hong Kong, Singapore and several European countries. US Senate also introduced a new tax and banking legislation which…
Foreign Bank Account Tax Attorney: If you are participating in the IRS Voluntary Disclosure program, you will be contacted by the IRS to review your case and conduct an interview so that the IRS may determine whether you qualify for the Voluntary Disclosure Program. In the upcoming posts, we’ll…
FBAR- IRS Voluntary Disclosure Attorneys Even if the taxpayer has missed the October 15, 2009, deadline, IRS voluntary disclosure program may still be available to those with delinquent FBAR, unreported income or undisclosed foreign bank accounts. However, taxpayers need to proceed with caution if they are considering filing their voluntary…
Los Angeles Tax Attorney: If you are looking for information on the IRS voluntary disclosure or the IRS FBAR program you can visit here FBAR – Why file IRS Voluntary Disclosure or here IRS Voluntary Disclosure for FBAR If you owe a debt to a bank or any other creditor…
Long Beach Tax Attorney: Here is a quick summary of a recent US TAX COURT case against the Internal Revenue Service to challenge whether a minor’s relative may claim a tax credit. HENRY LEE SCOTT v. COMMISSIONER OF Internal Revenue Service Tax Problem: The issue for decision is whether taxpayer’s…
Los Angeles Tax Attorney: Based on the numerous last minute IRS Voluntary Disclosures most tax attorneys expect a surge of US TAX COURT filings against the Internal Revenue Service to challenge the IRS tax and penalty assessments which may be proposed in the next several months. We’ll update you with…
Pasadena Tax Attorney: Here is a quick summary of a recent US TAX COURT case against the Internal Revenue Service to challenge the tax deductibility of medical expenses incurred by taxpayers. The case involves taxpayers who deducted medical expenses related to in-vitro fertilization. CHRISTINA MARIE THOMPSON MCGRATH, Petitioner v. COMMISSIONER…
Torrance Tax Attorney: Here is a quick summary of a recent US TAX COURT case against the Internal Revenue Service to challenge the taxability of lawsuit settlement funds. The case involves money settlement received by a taxpayer from a class action against the US Air Force. KEVIN HENNESSEY v. COMMISSIONER…