According to taxanalysts.com, in March of 2009, incoming American Bar Association Section of Taxation Chair Karen Hawkins was tasked with taking over the IRS Office of Professional Responsibility. It had been a tough few years for OPR, which struggled with changing professional standards from congressional legislation and a heavy backlog of cases. Hawkins almost immediately revitalized…
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73% of Swiss Banks Want Changes to Their the Terms of the Anti-Tax Evasion Agreement – Non-Prosecution Agreements!
The U.S. Department of Justice (“DOJ“) and the Swiss Federal Department of Finance have entered into an agreement that essentially ends Swiss bank secrecy and the renown of Switzerland as a tax haven (the “PFSB“). The PFSB is monumental because it: Applies not just to American taxpayers but also to foreigners and foreign entities who maintain Swiss…
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Need to Call Practitioners Hotline – Expect to Wait > 1HR!
According to IRS National Taxpayer Advocate Nina Olson, it will take practitioners an average of 52 minutes to get through to the IRS on its dedicated telephone line in 2015. Speaking at the American Institute of CPAs National Tax Conference, Olson says it will also take the taxpaying public 34 minutes to get questions about…
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Ex-UBS Exec & Ex-Mizrahi Banker Found Not Guilty In Tax Evasion Trials!
According to Law360, Miami (November 03, 2014, 5:04 PM ET) -- Jurors in federal court in Fort Lauderdale, Florida, found former UBS AG executive Raoul Weil not guilty of conspiracy to defraud the United States for his alleged role in helping nearly 20,000 U.S. clients hide $20 billion in assets from the Internal Revenue Service.…
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