The US Internal Revenue Service has set up a criminal investigation team to investigate whether Bitcoin and other cryptocurrencies are being used to evade taxes, according to news agency Bloomberg. The U.S. Internal Revenue Service, fresh off its success in uncovering U.S. assets hidden in Swiss banks, has assigned elite criminal agents to investigate whether…
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IRS is Behind on Implementing Speedy Corporate Audits
The TIGTA issued it's report on September 27, 2019 stating that the Internal Revenue Service isn’t effectively auditing corporations, despite a change in policy on how the agency was to conducts tax examinations, that was supposed to make the process more efficient. Historically, the LB&I Division has used a variety of methods to identify tax returns…
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TC Sustains IRS Denial of Face-to-Face CDP Hearing
The Tax Court has sustained in Roberts, TC Memo 2019-117 the IRS's denial of a request by married taxpayers for a face-to-face Collection Due Process (CDP) hearing. Because the taxpayers failed to participate in the originally scheduled telephone CDP hearing, the Court also sustained IRS's Notice of Intent to Levy. An IRS determination regarding a proposed collection…
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Accidental Americans Ask France to Block FATCA Reporting
A group representing French-American taxpayers said on October 3, 2019 that it had filed a suit against France with the European Commission, hoping to avoid strict US compliance rules that could see them blacklisted by French banks starting in January. The "Accidental Americans" association has been battling for years to be exempt from a US…
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