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Warning Signs of an IRS Criminal Tax Prosecution Referral

Every IRS examination potentially involving tax fraud requires a thorough examination of not only what transpired but, almost more importantly, why something did or did not transpire. Tax practitioners must understand the process by which a civil tax case winds its way through the system. Identifying the decision-makers and the factors they consider important may … Continue reading Warning Signs of an IRS Criminal Tax Prosecution Referral

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IRS: Common Badges of Tax Fraud

Section 6663(a) provides that, if any part of an underpayment is due to fraud, there shall be added to the tax an amount equal to 75% of the portion of the underpayment which is attributable to fraud. The IRS bears the burden of proving by clear and convincing evidence that: (1) An underpayment of tax … Continue reading IRS: Common Badges of Tax Fraud

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IRS Interviews of Taxpayers and Return Preparers

Requests to interview the taxpayer and/or return preparer during an otherwise normal IRS examination have become somewhat common. During the examination, the examining agent is auditing the return for accuracy and the taxpayer’s representative is typically trying to determine the nature and scope of the examination, gather responsive documents and information, etc. It is nearly impossible … Continue reading IRS Interviews of Taxpayers and Return Preparers

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Bankruptcy (Tax) Law Must Apply Equally to the Rich and Poor Alike . . .

Generally, subject to certain statutory exceptions, a debtor is permitted to discharge all debts that arose before the filing of his bankruptcy petition.[1] With respect to tax debts, the Bankruptcy Code provides that a debtor may not discharge any tax debts “with respect to which the debtor made a fraudulent return or willfully attempted in … Continue reading Bankruptcy (Tax) Law Must Apply Equally to the Rich and Poor Alike . . .

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Voluntary Disclosure – Benefits of Timely Filing Amended and Delinquent Tax Returns

Voluntary Disclosure. Practitioners often struggle with the issue of whether a taxpayer can avoid a criminal tax investigation by making a disclosure to the IRS.  A “voluntary disclosure” is generally the process of voluntarily reporting previously undisclosed income (or false deductions) through an amended return or the filing of a delinquent return. A taxpayer’s timely, … Continue reading Voluntary Disclosure – Benefits of Timely Filing Amended and Delinquent Tax Returns

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IRS Non-Filers Beware: Who’s That Knocking at Your Door ?

For numerous reasons, many taxpayers fail to timely file required U.S. income tax returns and associated reports. A “non-filer” is described as a taxpayer (or someone who ought to be a taxpayer) who does not file their return before the deadline to file the next year’s return. A “late filer” is taxpayer who misses the … Continue reading IRS Non-Filers Beware: Who’s That Knocking at Your Door ?

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AGOSTINO & ASSOCIATES NEWSLETTER – De Novo Review of Assessable International Penalties

AGOSTINO & ASSOCIATES –To download a few great articles prepared by our very close friends at the Law Firm of Agostino & Associates in Hackensack, NJ ( www.agostinolaw.com ), see the Agostino & Associates Newsletter https://doc-0g-a0-apps-viewer.googleusercontent.com/viewer/secure/pdf/3nb9bdfcv3e2h2k1cmql0ee9cvc5lole/a2e9d5ia6l9d8arb24i9qe55u5g1r2jr/1409675775000/drive/*/ACFrOgB3DcF0a_jTmvIpYCiuNKqO7L9fgn3s-OoYgXI80f841xzDJ5w3W4RQJIos9LXs1ctCT2z8v3FIziSDS2y-W6ct63hwuBzvEW_vnXAgbmb31pJpOwZuVMW1Ou8=?print=true DE NOVO REVIEW OF ASSESSABLE INTERNATIONAL PENALTIES By Frank Agostino, Brian D. Burton, and Lawrence A. Sannicandro    – Many taxpayers and … Continue reading AGOSTINO & ASSOCIATES NEWSLETTER – De Novo Review of Assessable International Penalties

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RECOMMENDATIONS FOR IRS TAX RETURN PREPARERS

All tax planning is not to be condemned. “It is no surprise that a knowledgeable tax attorney would use numerous legal entities to accomplish different objectives. This does not make them illegitimate. Unfortunately such ‘maneuvering’ is apparently encouraged by our present tax laws and codes.” [1] CIRCULAR 230 – Cir. 230 provides the regulations governing … Continue reading RECOMMENDATIONS FOR IRS TAX RETURN PREPARERS

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A CORNUCOPIA OF OVDP TAX FRAUD by EDWARD M. ROBBINS, Jr.

Has this happened to you? You are in your office toiling away in the tax trenches when a colleague down the street who works the offshore cases sends you an e-mail: “I’m sending over an OVDP client. He has a problem and I can’t represent him anymore.” Eventually the client sits in your office and … Continue reading A CORNUCOPIA OF OVDP TAX FRAUD by EDWARD M. ROBBINS, Jr.

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HIDDEN RESOURCES: IRS Audit Techniques Guides

Historically, IRS examiners were assigned to audit taxpayers in many different industries. On one day, an examiner audited a grocery store and on the following day the examiner may have audited a computer retailer or a medical doctor. As a result, experience gained in one audit did not significantly enhance the examiner’s experience for purposes … Continue reading HIDDEN RESOURCES: IRS Audit Techniques Guides

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Am I “Non-Willful” Under the IRS OVDP Streamlined Procedures ?

The IRS recently announced Streamlined Filing Compliance Procedures in an effort to encourage U.S. taxpayers to come into compliance with their reporting and filing requirements associated with varying interests in foreign financial accounts and assets.[i] The streamlined procedures require the filing of original or amended tax returns reporting not only for whatever foreign source income … Continue reading Am I “Non-Willful” Under the IRS OVDP Streamlined Procedures ?

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IRS Methods of Indirectly Determining Taxable Income

There are various audit and investigative techniques available to corroborate or refute a taxpayer’s claim about their business operations or nature of doing business. IRS audit or investigative techniques for a cash intensive business might include an examiner determining that a large understatement of income could exist based on return information and other sources of … Continue reading IRS Methods of Indirectly Determining Taxable Income

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