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Posts Tagged Massachusetts tax lawyer

It’s Too Late To Close Your Foreign Account – FATCA Post

Americans are pulling their funds out of Israeli banks in advance of FATCA. That was part of an article published earlier this week in Globes, an Israeli business news source. The article states, “Israeli banks say that European customers are beginning to withdraw their money from banks but at this stage still in small amounts, [...]

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Have A Government Security Clearance? Watch Out for IRS Tax Liens!

Tens of thousands of Americans have government security clearances. Whether you are a federal employee or private contractor, keeping your security clearance is key to staying employed. Having an IRS tax lien presents a real roadblock to maintaining or getting a clearance. Security clearances are currently reviewed on average every five years. After the recent [...]

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FBAR Penalties and the Definition of “Willful”

U.S. taxpayers are required to report offshore financial holdings when the aggregate balance of those assets exceeds $10,000. Even if your foreign brokerage account exceeds $10,000 in value for just 1 day, federal law requires the account be reported on a Report of Foreign Bank and Financial Accounts – FBAR for short. The FBAR penalties [...]

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FBAR Post – US Swiss Tax Deal Imminent

There have been many false starts in the long battle between the IRS and proponents of Swiss banking secrecy. Even after both Swiss banks and the Swiss finance ministry caved to pressure from Washington, the Swiss parliament stepped in to prevent the banks from making wholesale disclosures to the IRS. Now a deal between the [...]

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Wisconsin Court Rules Concert Co-Promoter Liable For Unpaid Taxes

A Wisconsin Circuit Court judge upheld a decision of the state’s Tax Appeals Commission, finding a concert “co-promoter” liable for unpaid taxes. The decision highlights how businesses can be held responsible for unpaid taxes even if they had no role in collecting the taxes. The Riverside Theatre in Milwaukee is a popular venue for concerts. [...]

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Bad Tax Policy – California’s Retroactive Tax Levy

We represent many businesses – everything from local “mom and pops” to a Fortune 150 company. What is the single biggest problem facing such a diverse group of business taxpayers? Bad tax policy; especially the lack of predictability and consistency. If you ask the general public what’s wrong with the tax system you are likely [...]

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