As part of the United States’ operation to fight U.S. tax evasion, Hong Kong came to an arrangement with the U.S. to cooperatively exchange information on all Americans who live, work, or have assets in the Chinese city. The terms are fairly simple in the fact that exchanging of information […]
There is perhaps no better day than Tax Day – the day federal income taxes are due – to take note of your options for paying them. You probably know you need to file, because the penalty for failure to do so is significant. As we noted in our March […]
There’s not much time left before Tax Day. In fact, as of this writing, you have four days left until your tax return has to be in the mail to the Internal Revenue Service. However, what happens if you aren’t ready for the April 15 deadline? What if you lost […]
The southern state of Tamil Nadu filed a lawsuit seeking what it claims are unpaid taxes for phone sales from Nokia Corp. The new court filing, separate from an earlier Indian tax claim against the Finland-based company, alleges that Nokia failed to pay appropriate sales taxes for devices made at […]
The proper use of retirement accounts is an important part of tax planning for many people. In part, this is because there are some very specific rules that apply to the tax treatment of individual retirement accounts (IRAs). In order to use IRAs effectively to benefit from tax-deferred investments, it […]
The due date for filing individual income taxes is now less than three weeks away. Many people have of course already filed their taxes. But what if, for whatever reason, you are struggling to meet the April 15 deadline? In this post, we will discuss some of the considerations and […]
Andreas Bachmann, former banker at Credit Suisse Group, pleaded guilty on Wednesday, March 10th, of helping Americans conceal their money in offshore Swiss accounts. Offering his services to dozens of Americans with Swiss bank accounts, Bachmann carried around large sums of cash on flights between the United States and Switzerland. […]
Federal authorities are increasing their efforts to battle what they say is a growing problem of fraudulent filings seeking tax refunds based on stolen identities. Even those not normally associated with white-collar crime are being attracted to the simplicity of the scam which involves repeatedly filing false tax returns electronically […]
The Real Housewives of New Jersey stars Teresa and Joe Giudice are facing very real trouble after pleading guilty to several charges of their 41-count indictment on various fraud and tax charges, according to US Weekly. Originally, the couple had pled not guilty to two charges in November. “Teresa and […]
It’s been awhile since we devoted a post on this blog to tax issues relating to implementation of the Affordable Care Act (ACA, also known on Obamacare). As we noted in our December 17 post last year, the IRS is deeply involved in this implementation. This involvement goes well beyond […]