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Posts Tagged tax audit

Audit Defense Post – Where Do You Really Live?

As the demand for government services increases, so do state and local governments’ appetite for tax revenues. In recent years we have seen more instances where two states claim the same taxpayer as a resident for tax purposes. More often, the situation occurs when a taxpayer claims to have changed his legal domicile but continues [...]

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Late Filed Income Tax Returns May Not Be Dischargeable

Most lawyers and CPAs will tell you that income tax debt is dischargeable in bankruptcy. Sure, there is a waiting period and some exceptions too. If the IRS can prove you engaged in tax evasion, your tax debt doesn’t get discharged. Some new rulings are creating major uncertainty, however, to the general premise that income [...]

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Tiger Woods and Tax Migration – The Wealthy Flee High Tax States (tax planning post)

by Brian Mahany Recently I read a story in the British paper, the Daily Mail about “tax migration.” I have known that some people are fleeing the United States and renouncing their citizenship but those cases are relatively few. I was shocked to read, however, just how many Americans are moving within the United States [...]

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How To Turn A Tax Debt Into A Prison Sentence

by Brian Mahany Last month the 7th Circuit Court of Appeals upheld a four + year sentence given to John McKinney in a criminal tax case. The facts behind the case tell the perfect story of how a simple tax debt can become a lengthy stay in a federal prison. John and his brother Robert [...]

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Trust Fund Recovery Penalty Revisited

by Brian Mahany A Trust Fund Recovery Penalty (“TFRP”) is not a penalty in the traditional sense. It a collection tool used by the IRS as an alternative method of collecting certain taxes from businesses. Under both state and federal law, business insiders and control persons may be held personally responsible for unpaid business taxes. [...]

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Cross Border Tax Withholding Enforcement – Here Comes The IRS

by Brian Mahany The IRS is a giant publicity machine. Just look at the number of indictments announced by the agency during tax filing season. Or how the Justice Department can be losing 30% of its tax division prosecutors while at the same time the IRS claims they are clamping down on tax cheats. Often [...]

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IRS On A “Rampage”!

by Brian Mahany IRS on a “Rampage.” That’s the term used by one very popular news source. According to data just released from the IRS, the percentage of high net worth individuals audited last year was 29.73%. Just 2 years ago, that number was at 10%. For the general population, just 1% gets audited per [...]

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IRS Worker Classification Rules

by Brian Mahany Warning. Unless you have a business that employs independent contractors or suffer from insomnia, this post is not for you. Earlier this year the IRS started an amnesty program of sorts for businesses that have misclassified workers as independent contractors. Predictably, that program has generated many, many questions. Social security, unemployment and [...]

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IRS Goes After British Consulate? Only in America

by Brian Mahany Embassy and consulate workers are generally considered hands off. The embassy itself is usually considered foreign soil, even if located in downtown Washington D.C. It follows, then, that embassies don’t have to worry about complying with IRS regulations. Think again. As only the IRS could do, auditors challenged Michael Rosenfeld over $2609! [...]

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