The Bank Secrecy Act requires U.S. taxpayers to file FBARs with the U.S. Treasury disclosing any interest in, or signature authority over, foreign financial accounts with assets in excess of
Continue Reading California District Court Finds Failure to File FBARs was Willful Despite Application for Voluntary Disclosure Program
IRS Announces 13 Issues Targeted Under its New Audit Campaigns
On January 31, 2017, the IRS announced the initial rollout of its new audit strategy and identified 13 specific issues (campaigns) it will be targeting. The IRS is moving toward
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Justice Department Sends Stern Warning to Employers With Continuing Crackdown on Employment Tax Fraud
Ensuring that employers collect and pay over to the Internal Revenue Service taxes withheld from their employees’ wages is one of the highest priorities of the Justice Department’s Tax Division.
Continue Reading Justice Department Sends Stern Warning to Employers With Continuing Crackdown on Employment Tax Fraud
A Federal Crackdown On Tax Zapper Software
In December, the Justice Department announced criminal charges against John Yin, a software salesman who worked for a Canadian company that sells point of sale (POS) software programs that enabled
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Feds Crack Down on Use of “Tax Zapper” Software by Restaurants and Other Cash Businesses
In December, the Justice Department announced criminal charges against John Yin, a software salesman who worked for a Canadian company that sells “point of sale” software programs that enabled restaurants
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Israel, the Republic of Korea and Saint Lucia Will Now Provide IRS Information on Bank Interest paid to Nonresident Aliens
The IRS released an advanced version of Revenue Procedure 2016-56 that requires three more countries – Israel, the Republic of Korea and Saint Lucia – to participate in the automatic
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Lessons from DOJ Prosecution of Tony Hu for Sales Tax Fraud
On Oct. 18, 2016, a federal judge sentenced a well-known Chicago restaurant owner to prison for carrying out an extensive scheme to avoid paying state sales tax collected from customers
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Court Authorizes IRS to Seek Identities of Bitcoin Users and Users of Other Virtual Currencies
On November 30th, a federal district court in California entered an order authorizing the IRS to serve a John Doe Summons on Coinbase Inc. seeking information about U.S.
Continue Reading Court Authorizes IRS to Seek Identities of Bitcoin Users and Users of Other Virtual Currencies