Posted from DeBelis Law - As has become obvious, the IRS has stepped up its efforts to curb non-disclosure of offshore assets and under reported income by U.S. taxpayers. This blog provides guidance on tax compliance for U.S. taxpayers who store gold and currency cash notes abroad in private vaults – a popular investment these…
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IRS Doesn't Want to See Circular 230 ‘Garbage' at Bottom of E-Mails
Internal Revenue Service officials said they were happy to bid adieu to the omnipresent yet misused IRS Circular 230 disclaimer at the bottom of practitioner e-mails, and cautioned practitioners that continued inclusion of the disclaimer will be considered a misstatement. “I'm here to tell you to get that jurat, that disclaimer, off your e-mails. It's…
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IRS Claims Statutory Authority To Enter Into FATCA agreements?
According to taxpol.blogspot.com.au - Over at federal tax crimes blog Jack Townsend has posted a letter from the IRS to Congressman Bill Posey, in response to an inquiry the Congressman apparently made about the intergovernmental agreements ("IGAs") to implement FATCA by other governments (instead of directly by foreign financial institutions, per the law Congress enacted…
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Right to Challenge IRS Summonses Important With New IRS Audit Procedures!
On June 19, 2014, the United States Supreme Court issued its decision in United States v. Clarke, No. 13-301, reaffirming the right of a recipient of an IRS summons to challenge the summons by examining IRS officials in an adversarial proceeding. The U.S. Supreme Court ruled unanimously that taxpayers have a right to challenge an…
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