According to DoJ, the former Chief Financial Officer of an Austin, Texas based company pleaded guilty today to willfully failing to pay over employment taxes to the Internal Revenue Service (IRS). According to court documents, from 2010 to 2016, John Herzer was the CFO of AXO Staff Leasing (AXO), a professional employer organization. Herzer handled…
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Former IRS-CI Special Agent Sentenced to Prison for Filing False Tax Returns – REALLY?
According to the DoJ, a former special agent for the Internal Revenue Service-Criminal Investigation was sentenced to serve 51 months in prison for filing false tax returns, obstruction of justice, and stealing government money. According to the evidence introduced at trial, Alena Aleykina, 45, who is also a Certified Public Accountant and holds a master’s…
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Qualified Opportunity Fund Benefits Foreign Investors Also.
IRS has issued proposed regs that describe and clarify the requirements that must be met by a taxpayer in order to defer the recognition of gains by investing in a qualified opportunity fund (QOF) under Code Sec. 1400Z-2, as added by the Tax Cuts and Jobs Act (TCJA, P.L. 115-97; 12/22/2017). The proposed regs provide…
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OVDP Ended Sept. 28 – So Now What?
We originally posted on March 13, 2018 IRS to End OVDP Sept. 28 - Last Chance for Taxpayers With Undisclosed Foreign Assets! where we discussed that the Internal Revenue Service announced in IR-2018-52 that it will begin to ramp down the 2014 Offshore Voluntary Disclosure Program (OVDP) and close the program on Sept. 28, 2018. The…
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