In a news release published on November 25, the Internal Revenue Service (IRS) stated that taxpayers wishing to deduct a donation to charity from their tax bill must have a bank record or written statement from the charity, regardless of the amount donated. The news release served as a reminder to taxpayers regarding provisions which […]

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According to the latest data released by the Internal Revenue Service (IRS), the top 400 American taxpayers paid an average rate of 18% in 2010, making it the lowest rate paid by top taxpayers since 2007. By comparison, the average rate paid by all taxpayers in 2010 was 11.8%. The cause for this is fairly […]

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The current mayor of London, who is a dual citizen of the United States, is refusing to pay a US tax. Boris Johnson, London’s mayor since 2008 and a possible candidate to lead Prime Minister David Cameron’s Conservative Party, addressed the issue during an interview on National Public Radio in New York that aired on […]

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On November 21, Stanley L. Cohen, a New York criminal defense lawyer, was sentenced to 18 months in prison for concealing millions of dollars in cash from the Internal Revenue Service (IRS). Judge Norman A. Mordue of the US District Court for the Northern District of New York further ordered Cohen to pay all taxes, […]

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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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