Why You Should Not Ignore Mail from the IRS – Although the issuance of an IRS Notice of Deficiency is usually the first step in the collection of an outstanding tax liability, ignoring it can have serious consequences. The Notice of Deficiency is an official communication from the IRS informing a taxpayer that the tax amount… Continue reading →
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Tax Deadline for Citizens Living Abroad
Tax Deadline for Citizens Living Abroad – The tax filing deadline for United States citizens living abroad is on the horizon. That deadline is June 15th (pushed to June 16th for 2014). This automatic two month tax extension is granted to all overseas residents and does not require an extension request. The only condition for… Continue reading →
Government Employees Have Delinquent Tax Balances
Government Employees Have Delinquent Tax Balances – Various government workers have been in the news recently for their delinquent taxes. One article reported that over 1100 IRS employees who owed back taxes and had other tax related problems had, in fact, received bonuses. Another recent report divulged that, as of September 2013, various federal government… Continue reading →
The Tax Debt Debate
The Tax Debt Debate – One interesting provision of the Tax Extenders Bill that is currently stalled in the United States Senate is the privatization of tax debt collection activities. The Tax Extenders Bill, which is unlikely to be voted on again this month, contains a clause that suggests turning delinquent tax accounts over to private collection… Continue reading →
Foreign Tax Compliance in the News
Foreign Tax Compliance in the News – In response to the global financial crisis, many countries have stepped up their surveillance of the tax obligations of companies within their tax jurisdiction, especially those that have multinational subsidiaries. In fact, tax compliance and tax avoidance were two of the key issues discussed at the G8 summit held… Continue reading →
Tax Fraud Phone Scams on the Rise!
Tax Fraud Phone Scams on the Rise! – Although the 2014 tax season is officially over, it appears that tax scams are actually on the rise. In fact, just days after April 15th tax filing deadline, the IRS issued a warning alerting taxpayers of a phone scam that is the largest one of its kind… Continue reading →
