Offshore tax methods have been used for decades by many wealthy Americans to conceal income and assets to reduce their tax burden. However, around 2007, the financial collapse increased concerns regarding federal budget shortfalls....
Barrons.com put together a great list of ways you can offset your tax bill and lower the amount you owe. It’s always a terrible day when you get a nasty surprise and realize you...
Forget about asking the IRS to remove interest charges from your account. This will never happen. Standard and mandatory interest is a fact of your financial live, and it’s a waste of time to...
According to thetaxadviser.com, the IRS will provide relief from late-payment penalties. Sec. 965 Treatment of deferred foreign income upon transition to participation exemption system of taxation. Sec. 965 required some taxpayers to pay a transition tax...
Anyone who has ever been through an audit season for financial statements for not-for-profit organizations know that they will see some of the same common mistakes over and over again that could be easily...
No one wants to find himself or herself indebt with the IRS. It’s a sticky situation that can be hard to get out of if you don’t know how to navigate the problem, and...
As far as the IRS is concerned, single member LLC’s with a foreign owner are a disregarded entity and still need to report to the IRS just like corporations do. They will also be...
Based on the publication of the NY Times, those with massive amounts of money never want to fork it all over to Uncle Sam in taxes. What they have found instead has been a tax...
The situation is about to change radically for those with offshore accounts. For the last 10 years the Offshore Voluntary Disclosure Program (OVDP) as provided a sort of tax pardon program. That program...
The IRS will deny your passport if you owe $51K or more. But you can apply for a reduction of your debt. Have overdue tax bills? Now the Internal Revenue Service (IRS) may deny...
