Tax Topics

If you get behind on your taxes, the IRS could try to go after your paycheck to collect the debt. In this post, we’ll address frequently asked questions about this process. What does “garnishment” mean exactly? Garnishment is an old legal term for the procedure used to take property to pay a debt. In the […]

In the first part of this post, we began discussing collection due process (CDP) rights. Those rights and required procedures are important in establishing the rules that the IRS has to play by when seeking to collect back taxes. In this part of the post, let’s look at some of the reasons why people can […]

The IRS’s stepped-up enforcement campaign on offshore account disclosure has been going on for years now. Combined with the rollout of the Foreign Account Tax Compliance Act, it has put great pressure on taxpayers with offshore holding as well as foreign financial institutions. Faced with possible criminal penalties, many taxpayers have chosen to participate in […]

Glen Frost is advocating for a same country exemption from FATCA reporting for citizens living abroad: https://www.internationalinvestment.net/products/american-expat-group-calls-country-fatca-exemption/ Here is the text of the letter from American Citizens Abroad to the Deputy Assistant Secretary for International Tax Affairs Robert Stack: August 10, 2016 The Honorable Robert B. Stack Deputy Assistant Secretary for International Tax Affairs United […]

Let’s continue the discussion we began last week about the creation of a common reporting standard (CRS) for revenue agencies around the world to exchange information about tax compliance. The CRS won’t take formal effect until September 2017. But more than 100 counties have already agreed to participate. In this part of the post, we […]

Data privacy is a critical concern in the online. Breaches of personal information can lead to identity theft, fraud and other serious problems for those who information is compromised. In recent years, there have been numerous widespread significant data breaches in the private sector, at companies such as Target and EBay. Breaches have occurred in […]

Tax filing is a little bit like homework, in that it involves turning in information that meets certain requirements. To be sure, the IRS does not exactly give you a letter grade on what you turn in (or fail to turn in). But an audit, or even worse a criminal investigation, can carry consequences more […]

In the classic story of “Romeo and Juliet” there is a well-known and often repeated line, “What’s in a name?” In the tax world, a name can mean the difference of thousands of dollars. It is important for business owners, employers, employees and independent contractors to understand the distinction between titles and to plan for […]

We should never take it for granted that particular transactions will not have tax consequences. Even the providing of gifts can be subject to IRS tax laws. This is particularly true of gifts between U.S. citizens and citizens of another country. Gifts provided to foreign citizens receive the same treatment as gifts between U.S. citizens. […]

Although no one wants to be involved in a tax controversy with the Internal Revenue Service, it is important to remember that taxpayers have a judicial remedy available to them. Specifically, IRS civil tax litigation can be brought in one of four different courts, depending on the type of claim. Our law firm has helped […]