A 1500% penalty rate on the taxes avoided/FBAR penalty, is imposed in a California case. Is a 1500% penalty constitutionally permissible? Of course the Defendant knowingly and voluntarily plead guilty, but should the IRS CID even be able to have the leverage to force someone to this type of penalty? FBAR: Isreal & Luxemborg a warning…
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The US Tax System Is Stacked Against The 99%.
The Great Divide: A Tax System Stacked Against the 99 Percentopinionator.blogs.nytimes.com The glaring unfairness of the United States tax system, with its myriad loopholes and special provisions for the wealthy, undermines not only economic growth, but the sense of shared purpose that is vital for democracy. Read more at: Tax Times blog
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Cayman and BVI to Agree to FATCA with US & Bahamas will Decide on FATCA by June.
We originally posted UK mini-FATCA Agreements Spells The End for UK Tax Haven Territories! on Monday, November 26, 2012. The UK and some other European countries have negotiating FATCA agreements with the US. The British Virgin Islands plan to sign a Model 1 FATCA agreement with the US, in the BVI's case a non-reciprocal…
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Can’t File By April 15?
Can’t File By April 15? Use Free File to Get a Six-Month Extension; E-Pay and Payment Agreement Options Available to People Who Owe Tax According to IR-2013-38 — The Internal Revenue Service reminded taxpayers that quick and easy solutions are available if they can’t file their returns or pay their taxes on time, and they can…
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