A draft of IRS Form 8957, which will be used to register financial instutions for FATCA, has been relased. To learn more, click here to view the IRS' announcement.
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Month: April 2013
Dirty Dozen may protect California residents from tax crimes
Well, tis the season - tax season that is. Recently, the Internal Revenue Service released its annual list of tax scams, affectionately dubbed the "Dirty Dozen." The purpose of the annual list is to caution taxpayers and improve awareness about various tax crimes. The...
Tax Court Determines Value of Interests in Artwork for Estate Tax Purposes
In Estate of Elkins v. Commissioner, the Tax Court rejected the IRS's argument that no discount should be allowed in valuing fractional interests in artwork in a decedent's estate. The Court, however, allowed only a ten percent discount to account for uncertainties a...
U.S. District Court Acquits Defendant on Tax Fraud and Conspiracy Charges
In Pflueger v. United States, U.S. District Judge, Leslie Kobayashi, recently acquitted James Pflueger on all tax fraud and conspiracy charges. Judge Kobayashi of the U.S. District Court for the District of Hawaii wrote that the government had not met its burden of...