Revenue Procedure 2016-57 replaces Fast Track Mediation (as outlined in Rev. Proc. 2003-41) with Fast Track Mediation—Collection. Fast Track Mediation—Collection provides taxpayers an opportunity to resolve certain offer-in-compromise and trust fund recovery penalty issues and cases worked by Collection on an expedited basis with an Office of Appeals mediator serving as a neutral party. Revenue Procedure…
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Ex-Swiss Banker Stefan Buck To Go To Trial For Conspiracy To Evade Taxes
We posted on October 15, 2016 144 Offshore Banks & Now Financial Advisors Are Turning Over Your Names To The IRS - What Are Your Waiting For? where we discussed that the Government has add 47 more Banks and FINANCIAL ADVISORS to this list bringing the number to 144 Offshore Banks and Foreign Financial Advisors.…
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Republican Congress & Senate May “Bust Up The IRS”
According to Law360, the existing structure of the Internal Revenue Service could be on shaky ground with Republicans controlling Congress and a proposal to shrink the agency to three smaller units focused on individual taxation, corporate taxes and dispute resolution based on the style of a small claims court. House Ways and Means Committee Chairman…
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Treasury Issues Final & Temporary Section 385 Regs – But May Not Last Under President Trump?
As part of the Obama administration’s announcement of a crackdown on inversions the U.S. Treasury issued final & temporary proposed regulations that would dramatically change the taxation of corporate debt issued to related corporations having nothing to do with inversions or foreign acquisitions. In a 518-page Treasury Decision, IRS has issued final and temporary regs under Code…
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