Despite the government shutdown, the Internal Revenue Service confirmed on January 7, 2019 in IR-2019-01 that it will process tax returns beginning January 28, 2019 and provide refunds to taxpayers as scheduled. “We are committed to ensuring that taxpayers receive their refunds notwithstanding the government shutdown. I appreciate the hard work of the employees and their commitment to…
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No Relief Expected for US Citizens Living Abroad
According to Moodys Gartner, in the middle of the perfect storm on Capitol Hill created by the change in control of the House of Representatives back to the Democratic party, the government shutdown, and President Trump’s border wall funding demands, a bill was introduced on December 20, 2018 that would “amend the Internal Revenue Code…
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Ct of Claims Rules That Failure to Properly Review Tax Return Results in Maximum Willful Fbar Penalty
According to Law360, the U.S. Court of Federal Claims has upheld the full amount of civil penalties tied to a woman’s undisclosed offshore account, rejecting the reasoning in two recent cases where the judges found that a decades-old penalty cap was still intact. U.S. Claims Court Judge Susan G. Braden ruled against Alice Kimble in her…
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1st Taxpayer Victory in a “Willful” FBAR Penalty Case Overturned at Appeals
On May 1, 2018 we posted 1st Taxpayer Victory in a "Willful" FBAR Penalty Case Appealed! where we discussed that on March 7, 2018 we posted 1st Taxpayer Victory in a "Willful" FBAR Penalty Case! where we discussed that on September 20, 2017, the Eastern District of Pennsylvania issued an important taxpayer friendly opinion regarding the "willfulness" standard…
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