The United States entered into agreements earlier this year with certain federally recognized Indian tribes to settle long-running lawsuits in which the tribes accused the Interior Department and the Treasury Department of mismanaging the monetary assets and natural...
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Month: September 2012
IRS Uses Social Network Data Mining to Find U.S. Taxpayers with Foreign Accounts
Most people use social networks to stay connected to friends, family and colleagues, and now the Internal Revenue Service (IRS) has taken the social network concept and has begun using data mining technology to find U.S. taxpayers with foreign bank accounts. Bloomberg...
And You Thought Taxes Were Boring…
This week, the Court of Appeals in the state of New York has been asked to determine whether or not revenue earned by strip clubs from admission fees and lap dances are subject to state sales tax or whether such income falls under an exemption relating to dramatic or...
Man is convicted of tax crimes in California federal court
A man has recently been convicted of several federal charges. According to California authorities, the man was charged with tax crimes due to his attempt to hide certain assets. It was alleged that the man attempted to hide these assets so that he would not be subject...
Good News for Taxpayers with Certain Foreign Retirement Plans, Including Canadian Registered Retirement Savings Plans
Beginning September 1st, the IRS will allow taxpayers relief who have unresolved issues related to certain retirement plans, such as a Canadian Registered Retirement Savings Plans.If the United States has a tax treaty with the foreign country holding the retirement...
Good News for Taxpayers Living Abroad with Unfiled Tax Returns or FBAR Reports
Beginning September 1st, some taxpayers living abroad who have not filed tax returns will get help from the IRS, if little or no back taxes are due. This is a great relief to taxpayers who have lived overseas and have failed to file timely tax returns or Reports of...
