Month: August 2015

Here at Parent & Parent LLP, we have been helping clients with offshore reporting issues for over 10 years. Here are some of the most commonly asked questions that we hear.
I reported all my taxable income but haven’t filed my FBARs. Do I need to enter into the a program?
This is actually a …

Here at IRSMedic, we often say how ridiculously complicated the tax code is — and it’s only getting more difficult. A taxpayer, regardless of who prepared their return, is responsible for everything on that return.We’ve written before on how H&R Block attempts to prepare…

The Financial Crimes Enforcement Network (FinCEN) is the part of the US Treasury tasked with administering the FBAR Form. Even though their job is to administer the FBAR, they tend to assign most of their administrative tasks to the IRS. And now they’re messing around with…

The IRS and the Department of Justice (DOJ) both have seemingly unlimited powers to go after taxpayers. Additionally, tax issues can be extraordinarily complex — so much so that the people who write and the enforce the tax code …

I am extremely skeptical of the IRS. And you better believe that I have every right to be! I’ve seen the IRS cause some truly horrible problems under the guise of “helping.” They’ve trapped a whole lot of good people …

The IRS allows eligible taxpayers who are currently in the standard OVDP to be treated under the streamlined process. The streamlined process is worth considering because it has some seriously favorable penalty structures and look-back for unfiled returns. The streamlined program can be — for taxpayers who …

I want to tell you a story about the long road to victory. It’s not an easy one, but it’s important. This particular story had us playing our part, but it’s more about the role of our client, “Victor.”

Victor came to us in 2012. He was sad, depressed, and his wife was working tirelessly to …

The IRS relies on fear of audits to make sure people pay their taxes; if you turn that fear on its head, you better believe the IRS would be left completely bewildered. The IRS does in fact, allow certain taxpayers the chance to be audited with something called a Pre-Filing Agreement Program. For better or for worse (better for the IRS, worse for the taxpayer), this program…

I believe that one of the best ways to hold the income tax in check is to have the IRS audit every single taxpayer. If that makes you terribly angry, hold your horses! You might be thinking to yourself, “The last thing I want is for me or my dear, old mother to have to face the wrath of the …