According to Law360, a tax whistleblower said the U.S. Tax Court should hear his untimely petition because the Internal Revenue Service letter declining his claim was vague and failed to tell him he could appeal, according to a brief filed Tuesday with the D.C. Circuit. David Myers filed a whistleblower claim with the IRS in 2009 and…
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IRS Withholding on Crypto Cryptocurrency Coming Soon!
According to Law360, The Internal Revenue Service will begin this year to more strictly enforce the requirement to withhold taxes for cryptocurrency payments to nonresident aliens, an attorney who has represented clients in related matters said at a Saturday tax conference in Washington, D.C. While the requirement to withhold 30 percent of payments to nonresident aliens…
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Should Taxpayers Play It Safe By Report Their Bitcoin Accounts on the FBAR?
According to Law360, Taxpayers who have offshore virtual currency accounts should report them on a Foreign Bank and Financial Accounts form despite a lack of clear guidance from the Internal Revenue Service, as staying silent could be support for allegations of willful nondisclosure. Cryptocurrencies, including popular digital tokens like bitcoin and ethereum, are widely traded and…
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Oh God Why Can't The Pastor Live High and Pay No Taxes?
According to Law360, The leader of a religious group objects to the federal criminal charges in New Jersey that he and another church official evaded taxes on about $5.3 million they took from the organization, blasting the case as part of a system designed to oppress blacks and Hispanics. “And I’m part of that oppressing,…
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