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Posts Tagged tax compliance

Rules For Expatriation? How About An Exit Tax!

As taxes continue to climb, more and more Americans are getting fed up. While its common to hear people in taverns and lunch counters across the country threaten to simply give up their citizenship, record numbers are actually doing so! Renouncing one’s citizenship and leaving the country is called expatriation. Of course many people who [...]

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IRS Begins Rejecting OVDI Filings – Important News For Fence Sitters

by Brian Mahany We have written at least 100 posts about the Offshore Voluntary Disclosure Program (called OVDI or OVDP) and the need to file FBARs (Reports of Foreign Bank and Financial Accounts). In almost every such post we remind readers that time is running out. Many folks learned this week just how true that [...]

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GAO Says IRS Should Focus Additional Audit Efforts On Middle / Upper Class

by Brian Mahany Here is a shocking headline… the General Accounting Office recommended the IRS devote more of its enforcement and audit efforts to those taxpayers earning more than $200,000 per year. That means the average middle or upper class earner will have an even higher chance of being audited. According to the GAO study, [...]

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IRS Targets New Scheme In Employment Plan Arena – Captive Management Companies

by Brian Mahany People think that accountants and tax lawyers lead boring lives. Perhaps that may be true for some, but there is plenty of action these days with the IRS and their Employment Plans tax group. Recently, the IRS identified an “emerging issue” that it calls a potential Abusive Tax Avoidance Transaction. If you [...]

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