Month: March 2015

We’d like to say that when people hire us that we can immediately…or at least within months…get them that final tax resolution that they so desperately want. That’s not always the case, though. Sometimes it can take years …

Peter had one foreign account from when he lived in Turkey. He kept this account open primarily as an emergency fund for his family, many of who still lived in Turkey. This particular fixed deposit account would roll over into different CDs every couple of months. Every time the CD would roll over it would generate a new account number. But in Peter’s eyes…

Mr. S, who used to own several bread delivery routes in Ohio and ran up a big tax bill, finally called us because he was dealing with an IRS issue that “was a beast.” He had been so beaten down by the IRS over the years that he truly thought there …

Max and Audrey sold a daycare business they both owned in 2010. In 2012, the IRS selected them for audit. Initially, Max and Audrey thought they could handle the audit themselves. But as the auditor turned more and more surly, and their gut was telling them that this …

Some days, some days really – – –   I wish I could write about something else besides the IRS (well I suppose I could, but I have a brand’s integrity to maintain).  Yet *sigh*, the combination of the effectively …

I’ve written before about Passive Foreign Investment Company (PFIC) calculations. But that  article was more limited to OVDP situations. In this article I will describe in more detail the types …

The IRS appeals office is always available to get a second chance to see if an Offer in Compromise can get accepted. We have had tremendous success with IRS appeals. But you know what is even better? Not having to go to appeals in the first place because you got your Offer accepted by the offer …

Do you know how many Americans owe the IRS back taxes on their personal income? It might come as a surprise, but the IRS claims that over a million taxpayers owe them money. So, if you owe money to the IRS – – even though you might be scared  – – one thing is for sure, you are not alone. …

There are two types of FBAR penalties. The first, and quite serious, is a willful FBAR penalty. The second, not as bad as a willful FBAR, is a non-willful FBAR penalty. These can add to be in the tens of thousands of dollars. But…there is a subset of non-willful FBAR penalties, and that is the FBAR warning Letter 3800, which is about a good of a win as you can hope for…