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Top Ten IRS Tax Settlement Myths

Congress created the IRS…and IRS tax settlement programs. I’ve been focusing a lot on offshore tax problems and so it is about time to update with what I see as the top 10 IRS tax settlement myths floating around. These are things that I am told all the time – – – not just by …

Changes In Overseas Tax Law

Changes In Overseas Tax Law. Anthony Parent, tax resolution lawyer, warns taxpayers that extensive documentation will be required in 2013 if they invest or operate a business overseas, due to changes in overseas tax law. Wallingford, Conn.

– July 25, 2012 – Anthony Parent, founder of IRS …

IRS FBAR Form: What Is It and Why so Dangerous?

The IRS FBAR form is a required informational return for any US taxpayer who owns or controls foreign financial accounts totaling $10,000 or more. FBARs must be filed with the IRS every June, regardless if an extension to file a 1040 was filed or not. The FBAR is not sent in with form 1040, but …

Foreign Account Tax Compliance Act: What Does FATCA Do?

The Foreign Account Tax Compliance Act, also known as FATCA, is an initiative launched by President Obama with the goal of keeping Americans from hiding funds offshore. While the plan may be well – intentioned, the way it’s written is going to make life very difficult for offshore businesses and …

Collection Due Process Hearing: Appealing IRS Decisions

The 5th Circuit has just recently upheld the tax court in Dalton v. Commissioner.  I see three essential lessons in play.
But first, you might be asking, what is a Collection Due Process Hearing?
A collection due process hearing is where a taxpayer gets to appeal a tax collection technique or …