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Star Trek & Universal Tax Jurisdiction, Explained

Universal Taxation: The IRS has the authority to tax you anywhere for any income derived from any source, whatsoever. This universal power has caught many people by surprise — especially expatriates and resident aliens, when it comes to foreign bank and investment accounts.

 

Why don't we ask someone more imaginative than me to explain the Universal Tax Jurisdiction of the IRS? Let's say, the creator of Star Trek the Next Generation, and noted tax expert, Gene Roddenberry.

 

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Why HSBC was targeted

The IRS has picked its next target: American customers of HSBC. US citizens and certain aliens with accounts in India and Hong Kong are…

Paypal and the 1099-K

As the IRS attempts to close the so – called tax gap, it has one more tool in order to catch folks not reporting all their income. Under the new regulations, “third party settlement organizations” (read: Paypal) must …

Is A Tax Lien Public Knowledge?

Yes it is. A Federal Tax Lien will be recorded in the records or courthouse (depending on where you live). Typically, national tax “relief” firms then get the names and even phone number to solicit taxpayers and make unsubstantiated …