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The United States is one of the only countries that tax the earnings of its citizens that are earned in another country. As such, the IRS often deals with foreign banks in order to discover accounts of Americans who are avoiding paying taxes on foreign earnings. Since...
This week, the IRS issued proposed regulations that would make permanent rules to extend the amount of time taxpayers can apply for equitable relief through an innocent spouse application. Under the proposed rules, taxpayers would have up to ten years - or generally,...
The IRS has released Publication 1304 which reports on statistical data from a sampling of the 145.4 million individual income tax returns filed for tax year 2011. Tax filings are up, adjusted gross income has risen and IRS collections continue to increase. The report...
The United States has agreed to forego criminal prosecution against the bank, Liechtensteinsche Landesbank AG, for opening and maintaining bank accounts for U.S. taxpayers from 2001 through 2011 and assisting U.S. taxpayers in evading their U.S. tax obligations. In...
A gift basket company and its founder were sued by the IRS just days before Christmas back in 2011. The IRS filed the case saying that the company was not entitled to tax refunds it received for the 2005 and 2006 tax years. In July of this year, a U.S. District Court...
A man will soon be transported by the U.S. Marshals Service to the Central District of California to face charges involving tax fraud and identify theft. The IRS Criminal Investigation division conducted the investigation that led to the man's indictment on tax...
For many gamblers in California who aren't United States citizens, winning was a thrill -- until it came time to pay taxes on those winnings. The IRS would get a portion every time, that is, until recently. A recent court case changed the way the IRS collects taxes on...
The Franchise Tax Board (FTB) is contacting more than 90,000 California business entities that have not filed their 2011 state income tax returns. Businesses contacted by the FTB will have 30 days to file a tax return or show why there is no filing...
According to the IRS, Tyco International Ltd. (Tyco) and some of its former subsidiaries owes the United States government somewhere in the area of $883.3 million in back taxes that have accrued $154 million in penalties. Tyco has let the IRS know that it does not...
The California Enterprise Zone credit program will see significant changes beginning January 1, 2014 due to two bills signed by Governor Jerry Brown on July 11, 2013: Assembly Bill 93 and Senate Bill 90. A partial sales and use tax exemption of approximately 4.19% is...
