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The IRS has posted new information to its website, in the form of frequently asked questions (FAQs), relating to FATCA. One set of FAQs focuses on the registration system and can be located at this link. A second series of FAQs involves FACTA issues relating to...
Many people in California have been following the court battles spawned by Michael Jackson's death. There could be yet another battle brewing for the late singer's family -- this one in the United States Tax Court. The IRS has made a seemingly arbitrary decision about...
Despite accusations that the notorious Capone was guilty of directing or committing many crimes through his organized syndication, tax evasion was ultimately the offense the federal government pursued which resulted in Capone's sentence to federal prison in...
Last December, the Second District Court of Appeal for California ruled in Cutler v. Franchise Tax Board that a California business incentive program violated the US Constitution's Commerce Clause. The program was enacted 20 years ago to allow investors selling stock...
When the founder of International Investment Advisors LLC passed away in 2001, he was worth approximately $24 million. What his family may not have realized at the time was that over half of that fortune was held in overseas bank accounts and taxes had not been paid...
In 2012, the IRS issued Revenue Ruling 2012-18 directing that automatic gratuities-tips added by the restaurant to the bill of large parties-- be classified as service charges, which are treated as regular wages subject to payroll tax withholding, rather than tips to...
The Department of Justice and Internal Revenue Service-Criminal Investigation announce a guilty plea by Aaron Cohen of Encino, California. Mr. Cohen pleaded guilty in the U.S. District Court for the Central District of California to conspiracy to defraud the United...
The Department of Justice has announced a program encouraging Swiss banks to cooperate in ongoing U.S. investigations of the use of foreign bank accounts to commit tax evasion. The program is available only to banks not currently under criminal investigation by the...
The IRS has issued proposed regulations to raise the user fees for installment agreements and offers in compromise on January 1, 2014. For more information, click here.
On August 29, 2013, the U.S. Department of the Treasury and the Internal Revenue Service (IRS) ruled that same-sex couples, legally married in jurisdictions that recognize their marriages, will be treated as married for all federal tax purposes. The ruling applies...
