On February 28, 2017, we posted How To Get The IRS To Accept Your Offer In Compromise? where we discussed: Do you owe a substantial amount of taxes to the IRS? If so, you've likely looked into establishing a payment plan. What if you are simply unable to pay your tax balance? In this case,…
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Trump's Budget Is Trouble For the IRS
On December 14, 2016 we posted Trump's Anti-Union Drumbeat Could Be Trouble for the IRS where we discussed that IRS employees could be in for a rocky ride if President-elect Donald Trump and Congress move forward with sweeping pledges to rein in federal employee benefits and cripple unions. Now President Trump's America First, A Budget Blueprint to…
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California Businessman Sentenced to 24 Months For Hiding > $23.5 MM Offshore!
A Los Angeles, California businessman was sentenced to 24 months in prison today for hiding more than $23.5 million in offshore bank accounts and evading more than $8.3 Million in Federal Taxes over seven years. According to court documents, Masud Sarshar, a U.S. citizen, maintained several undeclared bank accounts at Bank Leumi and two other…
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FinCen Announces That Fbar's Are Automatically Extended until October 15!
On February 22, 2017 we posted Your FBAR Is Due in April This Year! where we discussed that the new law, for returns for tax years beginning after Dec. 31, 2015, the due date of FinCEN Report 114 will be Apr. 15, with a maximum extension of 6 months ending on Oct. 15. Now FinCEN has issued…
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