IR-2014-16, Feb. 19, 2014WASHINGTON — The Internal Revenue Service today issued its annual “Dirty Dozen” list of tax scams, reminding taxpayers to use caution during tax season to protect themselves against a wide range of schemes ranging from identity theft to return preparer fraud. The Dirty Dozen listing, compiled by the IRS each year, lists…
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The President Unveiled His 2016 Budget Which Includes a Tax on Foreign Profits!
President Barack Obama on Monday unveiled a fiscal 2016 budget blueprint that proposed to tax the $2 trillion in earnings held by American companies offshore as part of a set of revenue changes that would generally increase taxes on the wealthy and lower them for the middle class. His budget plan includes: A one time…
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Agostino & Associates – January Tax Newsletter – Civil Forfeiture & Valuation Issues
Agostino & Associates' January tax newsletter contains two articles: 1. Jeremy Klausner discusses the new IRS policy on civil forfeiture of structured funds. The new IRS policy regarding forfeitures seems to indicate that the government will no longer seek to forfeit legitimate source funds that are involved in structuring. The open questions, however,are how this…
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OVDP Program Open Indefinitely For Taxpayers Hiding Money or Income Offshore!
The Internal Revenue Service today January 28, 2015, said in its news release (IR-2015-09), that avoiding taxes by hiding money or assets in unreported offshore accounts remains on its annual list of tax scams known as the “Dirty Dozen” for the 2015 filing season. "The recent string of successful enforcement actions against offshore tax cheats…
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