On October 30, a former account holder at a now-closed Swiss bank was sentenced to a three month prison term for concealing more than $1 million in a secret account from the IRS. Viktor Kordash, from Cliffside Park, NJ, was also sentenced to three years of supervised release and, as part of his guilty plea, […]

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On October 30, Judge Richard F. Boulware II of the US District Court for the District of Nevada granted an injunction against the director of the Internal Revenue Service (IRS) Office of Professional Responsibility, Karen Hawkins, barring her from suspending or curtailing a disbarred attorney’s ability to electronically file tax returns on behalf of his […]

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According to a recent report published by the Treasury Inspector General for Tax Administration (TIGTA) on October 28, the Internal Revenue Service (IRS) failed to provide taxpayers who have been victims of identity theft with Identity Protection Personal Identification Numbers (IP PINs). This is despite the fact that the number of IP PINs issued by […]

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In a recent statement, the Internal Revenue Service (IRS) Chief of Criminal Investigations Richard Weber said that the IRS plans to limit its use of a controversial anti-money laundering law to seize assets in bank accounts that receive regular, large cash deposits. “IRS-CI will no longer pursue the seizure and forfeiture of funds associated solely […]

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According to recent data released by the Internal Revenue Service (IRS), the number of Americans renouncing their US citizenship has increased 39% in the first 3 months through September following the establishment and enforcement of new rules meant to make it harder for individuals to hide their assets from American tax authorities overseas. The Foreign […]

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On October 16, the California Franchise Tax Board published its biannual list of California’s 500 Top Income Tax Debtors, which included 316 individuals and 72 companies. Of those, the first 378 debtors have tax delinquencies ranging from $144,000 to $4.2 million, making a total of $129 million. The other 122 taxpayers resolved their tax debts […]

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According to an October 7 news release summarizing the IRS Oversight Board’s quarterly meeting in September, tax refunds and notices will be issued more quickly thanks to progress made by the Internal Revenue Service (IRS) on its new Customer Account Data Engine 2 (CADE 2) program. The program will help validate the quality of over […]

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The Internal Revenue Service (IRS) recently announced that it had simplified the reporting requirements for US citizens or residents with interests in Canadian registered retirement savings plans (RRSPs) and registered retirement income funds (RRIFs). These taxpayers now automatically qualify for tax deferrals similar to those available for participants in individual retirement accounts and §401(k) plans. The […]

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A company which buys, repairs, reconditions, and resells used automobiles was forced to pay taxes in 2007 because its workers met all the requirements necessary to be taxed as employees. The company in question consists of a President, who is the sole shareholder, Employee 1, who serves as the secretary and treasurer, and Employee 2, […]

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After 21 years on the run, fugitive Francisco R. Legaspi was sentenced to 21 months for aiding and assisting in the preparation and presentation of false tax returns and for failing to appear for sentencing on tax charges. According to a Department of Justice news release, Judge William H. Orrick of the US District Court for […]

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