Tax matters touch every corner of financial life, and the IRS holds the keys to compliance. For individuals and businesses alike, understanding the IRS’s audit techniques is not just about staying within the lines; it’s about securing financial stability and peace of mind. This insight into the IRS’s methods is crucial for anyone aiming to maintain a clean slate in their financial and legal standings, emphasizing the importance of preparedness and informed decision-making. Auditing of Tax Returns The IRS rigorously examines tax returns and related financial documents to verify the accuracy of ..read more

The Internal Revenue Service (IRS) is a central figure in the financial lives of Americans. Every year, individuals and businesses engage with tax professionals or the IRS to fulfill their tax obligations. Despite its ubiquitous presence, misconceptions about how the IRS operates are widespread. These misunderstandings often influence decisions and cause stress, particularly after tax season when people reflect on their filings. It’s common for people to ask themselves whether they filed correctly, or even if they have the money to pay the IRS what they owe. It’s more than understandable when ..read more

The issue of securities fraud is taken seriously by regulatory bodies and law enforcement agencies, including the SEC and the FBI, which diligently monitor for any signs of fraudulent activity. These efforts aim to maintain trust and integrity within the market which are essential components for its proper function. What’s less often discussed, but equally important, are the tax implications these accusations can carry, even before a court proceeding establishes guilt or innocence. Accusations alone might prompt scrutiny from tax authorities regarding the origins of gains and the deductibility ..read more

Thousands of people apply for U.S. citizenship every year, but for many citizens who were granted citizenship by birth, or simply changed their minds, there are certain associated costs that may catch them off guard. Expatriation, the act of renouncing one’s citizenship, is a significant legal decision, often prompted by various personal and financial reasons. Recently, a notable case highlighted the plight of ‘accidental Americans’ – individuals who, by virtue of being born in the U.S., are U.S. citizens but have little to no other connection to the country.  The Legal Complexities of E ..read more

The Internal Revenue Service (IRS), following the Inflation Reduction Act, is undertaking a historic shift in its enforcement and compliance strategies. This transformation aims to bring more fairness to the U.S. tax system, primarily by intensifying scrutiny on high-income individuals, partnerships, large corporations, and entities engaged in tax evasion. The IRS will harness improved technology, including Artificial Intelligence, to enhance its ability to detect tax noncompliance and complex tax avoidance schemes. This change responds to the significant decline in audit rates for wealthier ..read more

The IRS’s recent enforcement actions concerning Malta Pension Plans represent a pivotal moment in international tax compliance. This critical juncture, centered on the U.S.-Malta Tax Treaty’s interplay with the Retirement Pensions Act of 2011, signals a profound shift in the tax landscape, particularly for U.S. taxpayers with international interests. This development is not just a routine update in tax policy; it represents a fundamental reevaluation of the interpretations and applications of international tax treaties, especially concerning pension plans. The IRS’s focus on these Malta Pensio ..read more

Tax litigation involves legal proceedings related to federal tax disputes. When facing such disputes with the Internal Revenue Service (IRS), understanding the choice of forum and the unique nature of tax litigation is essential for professionals and business owners. This overview provides insights into the critical aspects of tax litigation and the decision-making process involved in choosing the appropriate court. Choice of Forum for Suing the IRS Tax Court The tax court is dedicated to handling federal tax disputes and offers several benefits for taxpayers. It is known for its familiarity ..read more

Mortgage fraud is a serious legal issue, and those accused sometimes don’t realize they’re engaging in this type of activity. Generally speaking, it involves deceptive practices in real estate financing. Individuals accused of mortgage fraud face significant legal challenges, including the potential for imprisonment. Understanding the nature of these accusations and how to navigate the legal system is vital for those seeking to protect their rights and avoid criminal or regulatory penalties. Types of Mortgage Fraud Accusations Fraudulent Loan Applications – Individuals may be accused of provi ..read more

If you have your finger on the pulse of society at large, you have almost certainly at least heard of cryptocurrency–if you aren’t already actively engaged with the trend. This growing industry has led the intersection of digital assets and taxation to gain unprecedented attention. Cryptocurrency, once a niche interest, has become a significant part of the financial landscape, attracting investors, miners, and traders alike. As the Internal Revenue Service (IRS) sharpens its focus on the tax implications of cryptocurrency transactions, the need for experienced attorneys in the realms of tax an ..read more

Fraud is a crime that takes many forms, all rooted in deception. Deceptive practices can lead to unfair advantages and financial harm to victims, but the alleged victims can come from a variety of places. The most consistently litigious “victim” is of course, the Internal Revenue Service (IRS), which pours extensive resources into protecting their interests. In an attempt to track deceptive practices, the IRS employs a set of factors known as the “badges of fraud.” These allow them to identify potential fraudulent activities related to tax returns and financial transactions. While these badge ..read more