Category Archives: COMPLIANCE

IRS FIRST TIME ABATE POLICY PROVIDES PENALTY RELIEF IN CERTAIN SITUATIONS

The IRS today clarified its policy with regard to abatement of certain penalties for first time offenders.  The policy was modified to clarify that relief applies only where the taxpayer is current with all tax filings and tax payments. See IRM … Continue reading

Posted in COMPLIANCE, DELINQUENT RETURN, EMPLOYMENT TAXES, IRS COLLECTIONS, POLICY, RETURNS, TAX, TRUST FUND PENALTY, UNFILED RETURNS | Tagged , , , , , , , | 6 Comments

“LISTEN, DO YOU WANT TO KNOW A SECRET?”

The Beatles sang in the 1960s of sharing secrets and promising not to tell.  In an age of  prying governments with big eyes and long arms, malicious internet hackers, of snoopers panting to expose, and whistle-blowers coveting gain, what reality remains in these naïve expectations?  The … Continue reading

Posted in 2012 OVDP, COMPLIANCE, FBARS, TAX, TAX CRIMES, UNFILED RETURNS, VOLUNTARY DISCLOSURE | Tagged , , , , , , , , | Leave a comment

IRS TO GET MORE EASY PICKINGS OF OFFSHORE FRUIT

Two high level IRS Criminal Investigation (CI) officials participated an American Bar Association, Tax Section, Webinar, “Criminal Tax Enforcement Hot Topics: The IRS Perspective,” (March 20, 2013).  Edward “Ted” Cronin is the Division Counsel/ Associates Chief Counsel (Criminal Tax) … Continue reading

Posted in 2012 OVDP, AMENDED RETURNS, COMPLIANCE, DELINQUENT RETURN, FBARS, NEW OVDP, TAX, TAX CRIMES, TAX INFORMATION EXCHANGE AGREEMENTS, UNFILED RETURNS, VOLUNTARY DISCLOSURE | Tagged , , , , , , , | Leave a comment

TO FILE OR NOT TO FILE JOINTLY: AN ANNUAL DILEMMA

It is tax time again and most married couples will file jointly without considering the consequences or considering only the dollar tax-savings (marriage bonus) from rate splitting for single-earner couples. Couples with two wage earners more likely face a marriage … Continue reading

Posted in COMPLIANCE, DIVORCE, INNOCENT SPOUSE, JOINT RETURNS | Tagged , , , , , | Leave a comment

IRS EXPLAINS WHAT YOU SHOULD KNOW ABOUT ID THEFT AND TAXES – BUT OFFERS INADEQUATE HELP TO VICTIMS

IRS TAX TIPS: Special Edition Tax Tip 2013-05 Protecting taxpayers and their tax refunds from identity theft is a top priority for the IRS. This year the IRS expanded its efforts to better protect taxpayers and help victims dealing with … Continue reading

Posted in COMPLIANCE, IDENTITY THEFT, TAX | Tagged , , , , | Leave a comment

TAX PAYMENTS FOLLOWING INNOCENT SPOUSE RELIEF

What is commonly referred to as “innocent spouse relief” is actually three distinct types of possible statutory relief from the usual “joint and several liability” of a spouse who elects to file a joint return with his or her mate … Continue reading

Posted in COMPLIANCE, DIVORCE, EQUITABLE RELIEF, INNOCENT SPOUSE, JOINT RETURNS, TAX | Tagged , , , , , , | Leave a comment

IRS VERSION OF “COMMON SENSE

Posted in AUDITS, COMPLIANCE, TAX, Uncategorized | Tagged , | Leave a comment

IRS NEW ITIN APPLICATION REQUIREMENTS PRESENT DILEMMA: WHAT DOCUMENTS IS ONE WILLING TO RISK LOSING?

U.S.citizens and green card permanent residents can obtain a Social Security Number (SSN) for use in connection with filing tax returns and other identity related matters.  Non-resident aliens (NRAs) or resident aliens whose residency is based on the substantial presence … Continue reading

Posted in COMPLIANCE, TAX | Tagged , , , , | 14 Comments

TAX COURT NOT CHARITABLE TO TAXPAYER IN UPHOLDING IRS DISALLOWANCE OF DEDUCTION FOR CASH CONTRIBUTIONS TO CHURCH WHEN TAX CODE CONDITIONS NOT STRICTLY FOLLOWED

 The Internal Revenue Code (Code) does not treat income and deductions equally.  Generally, all economic benefits received by a taxpayer, not a gift, are includible in one’s gross income under Section 61 unless specifically exempted by anther Code Section.  Contrariwise, when … Continue reading

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TAX TIPS FOR NEWLY DIVORCED OR MARRIED TAXPAYERS WITH NAME CHANGE

IRS TAX TIP 2012-23: The IRS released 5 tips for newly divorced or married taxpayers which are reproduced below: If you changed your name after a recent marriage or divorce, the IRS reminds you to take the necessary steps to … Continue reading

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