New Filing Due Date for FBARS

New Filing Due Date for FBARS

The United States Department of Treasury has announced that the new annual due date for filing Reports of Foreign Bank and Financial Accounts (FBAR) for foreign financial accounts is April 15. Specifically, section 2006(b)(11) of…

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Disgorgement by Tax Preparer Denied by U.S. Federal Court

Disgorgement by Tax Preparer Denied by U.S. Federal Court

The IRS was handed a huge defeat in federal district court on Tuesday when Judge Anne B. Conway of the Middle District of Florida ruled that the United States had not proved that even $1 of profits (ill-gotten gains) received by a…

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Owe the IRS? You Can Lose Your Passport.

Owe the IRS? You Can Lose Your Passport.

President Obama has signed a new passport revocation provision into law to help the IRS collect back taxes.  New § 7345 of the Internal Revenue Code has been added as a result of the passage of  H.R. 22 –…

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WARNING: IRS Wants to Take Your Passport

WARNING: IRS Wants to Take Your Passport

Congress has passed H.R.22, which, if signed by the President, will allow the IRS to confiscate the passports of citizens who owe the IRS more than $50,000 in taxes, penalties and interest. Congress calls this…

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A Case for the Corporate Income Tax?

A Case for the Corporate Income Tax?

My old blogging friend, Joe Kristan, of Roth & Company has published his “Fight the Power” edition of Tax Roundup. In this case, the power to be fought isn’t the federal government, but private corporations….

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