U.S. taxpayers with unreported foreign bank accounts may not get warning that DOJ has knowledge of their account! The Justice Department's Tax Division has a lot of informationthat is not public regarding foreign bank accounts and is communicating with banks in countries that don't have a treaty relationships with the U.S., according to Assistant Attorney…
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When is the Best Time to call IRS Practitioner Priority Service?
Beyond415 posts that they have been calling the IRS Practitioner Priority Service (PPS) individual and business lines to measure and record wait times so we can let you know the best time to call. Here are some conclusions from our analysis of call wait times: Individual taxpayer PPS line (866) 860-4259, option 3 PPS operating…
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Singapore Close To Reaching FATCA Deal With the US.
We previously posted "FATCA: Updates for Hong Kong, Philippines, New Zealand and Singapore" where we discussed FATCA Updates for Asia and Singapore's media release last May 14th, where it indicated its intent to enter into an intergovernmental agreement (IGA) with the U.S. The US is coming close to sealing a Foreign Account Tax Compliance Act (FATCA) deal with Singapore…
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IRS Advisory Council Releases 2013 Annual Report
The Internal Revenue Service Advisory Council (IRSAC) today released its annual report featuring recommendations on a wide range of tax administration matters. IRSAC is an advisory group to the entire agency. IRSAC’s primary purpose is to provide an organized public forum for senior IRS executives and representatives of the public to discuss relevant tax issues.…
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