IRS CRIMINAL DIVISION NOW SEEKING NON-COMPLIANT US CITIZENS & GREEN CARD HOLDERS

The IRS Criminal Investigation (“CI”) Division is abruptly and drastically expanding its activities to locate and prosecute non-compliant US taxpayers. ACTIONS THE IRS IS TAKING International Tax Enforcement Group Don Fort, the newly appointed IRS Chief of Criminal Investigation is forming an “International Tax Enforcement Group”, in addition to a new “Nationally Coordinated Investigations Unit”.…

Congress is considering giving Americans in Canada an incredible tax break

Stay tuned, and call me if you have questions: Charles M. Bruce: This change would align U.S. rules with that of just about every other country in the world The U.S. Congress has been mulling changes in the way American individuals abroad are taxed.Canadian Press Special to Financial Post November 7, 2017 10:26 AM EST…

Ten things you need to know about passport restrictions on delinquent taxpayers

http://www.accountingtoday.com/opinion/ten-things-you-need-to-know-about-passport-restrictions-on-delinquent-taxpayers In late 2015, Congress passed the Fixing America’s Surface Transportation Act, a law that, among other things, helps the IRS collect larger tax debts. Included in the FAST Act is Section 7345 of the Internal Revenue Code, which requires the IRS to provide information to the U.S. State Department about people who owe “seriously…

US proposes relief for some who renounce US citizenship: Is FATCA a motivating factor?

Published on February 11, 2015 at 10:45, by Roy A Berg JD, LLM On February 2, 2015 the Obama Administration acknowledged the plight of certain US citizens residing abroad and proposed limited relief. In the “General Explanations of the Administration’s Fiscal Year 2016 Revenue Proposals”1, known as the “Green Book,” the Administration proposed a change to…

The income tax started as a conservative political stunt

The income tax started as a conservative political stunt CHRISTINA STERBENZ FEB. 3, 2015, 7:20 PM ourdocuments.govThe original 1040 income tax form The US officially adopted the federal income tax 102 years ago today. The Supreme Court had ruled in 1895 that the income tax violated Article I of the Constitution, so the amendment was necessary to empower the federal government…

IRS Simplifies Procedures for Favorable Tax Treatment on Canadian Retirement Plans and Annual Reporting Requirements

IR-2014-97, Oct. 7, 2014 WASHINGTON ― The Internal Revenue Service today made it easier for taxpayers who hold interests in either of two popular Canadian retirement plans to get favorable U.S. tax treatment and took additional steps to simplify procedures for U.S. taxpayers with these plans. As part of this, the IRS provided retroactive relief…

Problems With New IRS Procedures For Canadian Retirement Plans

Last Updated: October 15 2014 Article by Roy Berg Moodys Gartner Tax Law LLP Do you haveMutual Contactswith the Author  On October 7, 2014 the IRS released Revenue Procedure 2014-55, which purports to make US tax filing easier for US citizens or residents who own Canadian Registered Retirement Savings Plans (“RRSPs”) or Registered Retirement Income Funds (“RRIFs”).…

IRS Statement on Court Ruling Related to Return Preparers

Update Feb. 21, 2014 On Feb. 11, 2014, the U.S. Court of Appeals for the District of Columbia Circuit upheld the decision of the lower court in the case of Loving vs. IRS, finding insufficient statutory support for the IRS’ regulation of federal tax return preparers. Taxpayer reliance on paid tax return preparers and effective tax…

US Court of Appeals upholds lower court regarding IRS authority

The U.S. Court of Appeals for the District of Columbia today upheld the lower court’s ruling in the case of Loving vs. IRS regarding the authority of the IRS to mandate testing and continuing education for tax return preparers. The IRS continues to believe that it’s critical for taxpayers to be able to rely on…