Ireland said on Tuesday it planned to shut down a much-criticized tax arrangement used by Apple Inc to shelter over $40 billion from taxation - but will leave open an even bigger loophole that means the computer giant is unlikely to pay any more tax. Parliamentary hearings were held to review Ireland's tax rules amid concerns…
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Identity Protection PIN
In cases of identity theft, the IRS issues taxpayers an Identity Protection Personal Identification Number (IP PIN). The IP PIN does not prevent the filing of multiple returns by identity thieves using the legitimate taxpayer’s TIN, but it: Allows the legitimate taxpayer’s return to bypass the identity theft filters; Prevents fraudulent returns from being processed;…
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U.S. Tax Court Filings During The Shutdown
We previously posted on Saturday, October 5, 2013, Suspension of Tax Court Operations During Government Shutdown regarding the cancellation of Tax Court Trial Sessions Scheduled to Begin October 7 and 8, 2013.What does the taxpayer with a Statutory Notice of Deficiency or Statutory Notice of Determination, which gives the taxpayer 90 days from the date…
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Options Available for US Taxpayers With Offshore Accounts and/or Entities!
The IRS' focus on offshore enforcement efforts and related disclosure programs has raised awareness among many U.S. citizens about their tax filing and information reporting obligations. Situations of taxpayers with offshore compliance issues vary widely given the complexity of this area of tax law. Taxpayers that recently learned of these tax requirements should also be…
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