After 4 1/2 months of no activity, the IRS is back in Florida as of February 1, 2018. After Hurricane Irma in September, a disaster declaration FL-2017-04 was issued in all 67 counties of Florida. The IRS was told to back off all taxpayers until February 1, 2018. The good news for delinquent taxpayers is…
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Treasury Scrapping Nearly 300 Tax Rules & Regulations
According to Law360, the U.S. Department of the Treasury intends to scrap nearly 300 tax rules in keeping with President Donald Trump's executive orders to cut back on regulatory burdens, according to proposed regulations released Tuesday. Treasury is proposing to remove 298 regulations it says are no longer necessary because they have no current or future…
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IRS Issues Guidance on Changes in Accounting Periods Related to the Transition Tax
The Treasury Department and the Internal Revenue Service (IRS) issued IR-2018-25 and announced modifications to the procedures for changing the accounting period of foreign corporations owned by U.S. shareholders that are subject to the transition tax under the Tax Cuts and Jobs Act. On Dec. 29, 2017, the Treasury Department and the IRS provided initial…
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How Will The IRS Know? – The Paradise Papers Exposes US Clients – Part 2!
On November 17, 2017 we posted How Will The IRS Know? - The Paradise Papers Exposes US Clients of Asiaciti Trust! where we discussed that Appleby, an Offshore Law Firm/Corporate Agent's Recent Data Breach is yet Another Example of How the IRS Can Discover your Unreported Foreign Account and how the Super-rich clients of offshore law firm Appleby are bracing themselves for…
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