A synonym for the word controversy is dispute. And nothing feeds dispute more than when those involved in an argument can’t agree on what it is they are arguing about. Take for example the case of Bitcoin. Bitcoin has only existed for a few years. Most readers in the Washington area probably don’t have anything […]

There aren’t likely many U.S. taxpayers who would welcome a bit of inquiry from the Internal Revenue Service. IRS audits are not fun and have a way of draining the target emotionally and financially. Those are the reasons why anyone embroiled in a controversy over taxes and facing an audit is wisely advised to seek […]

Back in November we posted about the fact that entertainer Tina Turner had reportedly signed the paperwork to give up her U.S. Citizenship in favor of staying in Switzerland. The reason given at the time is that she had married her Swiss partner in July, but there was some speculation that the growing burden of […]

Americans living or holding bank accounts in Israel might want to batten down the hatches for the coming tax season. That’s the forecast from a lot of tax accountants who do work for those individuals. According to the experts, the odds that the tax returns, especially of those people filing for a child tax credit, […]

Americans who have had to deal with the headaches resulting from enforcement of the Foreign Account Tax Compliance Act might tend to disagree with the assessment of the law issued this week by U.S. Senate investigators. The report came out on Tuesday and the Senate Permanent Subcommittee on Investigations doesn’t appear to pull its punches […]

The federal law known as the Foreign Account Tax Compliance Act, or FATCA, doesn’t take effect until July, but some bankers in the U.S. say it’s already costing their industry some significant dollars. They also say the law threatens to hurt foreign investment in the country, so they’re waging a legal fight to try to […]

Divorce is not always a negative and contentious experience. Every divorce, though, tends to be burdened by some emotional upheaval. That’s not a feeling anyone in Maryland wants to revive after a divorce is final, but an Internal Revenue Service audit has a way of doing just that. Not every tax return filed by a […]

The King of Pop is dead, but he is far from out of the limelight. Attracting attention currently is a battle between the estate of Michael Jackson and the Internal Revenue Service over the value of intangible assets. Attempting to assign a value to such ethereal things as intangibles is always difficult, but that doesn’t […]

There are a lot of ways that a person might wind up on the Internal Revenue Service’s version of a watch list. How it happens, though, is perhaps less important than what can happen if no action is taken when it does happen. Action is called for and it’s always best to do it with […]

The Foreign Account Tax Compliance Act is a looming reality in 2014. This is the year it takes effect. Under the provisions of the law, the Internal Revenue Service has the capacity to financially penalize foreign banks that fail to report if they have accounts held by U.S. taxpayers. Many experts, whether in Washington or […]