On May 24, 2018 we posted IRS Has 6 New Compliance Campaigns Audit Strategies for LB&I where we discussed that on may 21, 2018 the irs announced the identification of 6 large business and international compliance campaigns. Now on July 2, 2018, the IRS announced that it has identified and selected the following five additional issues: Restoration of sequestered…
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IRS Spent $380 Million on FATCA but took NO Action Against Offshore Tax Dodgers?
What Happened To The FATCA Wrecking Ball? Despite pouring nearly $380 million into a new tax enforcement initiative, the U.S. government took “limited or no action’’ in its campaign to battle secretive offshore holdings used to dodge taxes, according to a new report by a federal watchdog. The Treasury Inspector General for Tax Administration…
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The J5 International Tax Hunt is On!
The tax authorities of the UK, US, Australia, Canada and Netherlands have set up a joint committee to improve international enforcement against tax crime and money laundering. The first meeting of the so-called J5 Group (Joint Chiefs of Global Tax Enforcement) was held during July 2018 where plans where developed to detect cyber criminals and enablers of offshore tax crime. The…
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District Court Approves IRS Levy on Taxpayers' Principal Residence
A district court has approved IRS's levy on taxpayers' principal residence, noting that: 1) IRS established that there were no reasonable alternatives for collection; 2) IRS's determination that the taxpayers were ineligible for an offer in compromise was correct; and 3) taxpayers' pending installment agreements didn't prohibit the levy. (Gower, (DC FL 7/10/2018) 122 AFTR…
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