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Criminal Tax Restitution Order Overcomes Later IRS Settlement by Robert S. Horwitz

The Government routinely seeks a restitution order in criminal tax cases. When a defendant pleads guilty to a tax crime, the U.S. will either require the taxpayer to agree to a restitution amount or acknowledge that the U.S. can request restitution as part of the sentence.  Once the restitution order is entered, the defendant cannot … Continue reading Criminal Tax Restitution Order Overcomes Later IRS Settlement by Robert S. Horwitz

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Sentencing in Tax Cases: It Ain’t That Bad (for Defendants) by Robert S. Horwitz

The Federal Sentencing Commission keeps track of sentencing in federal criminal cases. Its recently released Data Report gives an idea of sentences in criminal tax cases and how they stack up against sentencing in other types of federal criminal cases.  First, some basics. The report is for the fourth quarter of 2017. Since the U.S. … Continue reading Sentencing in Tax Cases: It Ain’t That Bad (for Defendants) by Robert S. Horwitz

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Tax Court Reverses Itself, But The Taxpayer Still Loses by Robert S. Horwitz

On November 20, 2017, the Tax Court issued its opinion in Graev v. Commissioner, 149 T.C. __, reversing a prior decision that sustained a 20% accuracy penalty.  The issue before the Court was whether the IRS has to prove that it complied with Internal Revenue Code §6751(b)(1) in order to sustain a penalty in a deficiency … Continue reading Tax Court Reverses Itself, But The Taxpayer Still Loses by Robert S. Horwitz

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WEBINAR featuring Steven Toscher and Michel Stein – New IRS Scrutiny of Cryptocurrency Reporting: Filing Requirements and Exchange Treatment

New IRS Scrutiny of Cryptocurrency Reporting: Filing Requirements and Exchange Treatment Strafford  February 15, 2018 – 10:00 a.m. – 11:30 p.m. (Pacific) On February 15 Steven Toscher and Michel Stein will be hosting a Strafford Webinar “New IRS Scrutiny of Cryptocurrency Reporting: Filing Requirements and Exchange Treatment”   The panel will provide tax counsel, accountants and other advisers with … Continue reading WEBINAR featuring Steven Toscher and Michel Stein – New IRS Scrutiny of Cryptocurrency Reporting: Filing Requirements and Exchange Treatment

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WEBINAR featuring Michel Stein – FBAR 2018 Update: Mastering FinCen Form 114, Deadlines, Extension, Penalty Resolution and Waiver Provisions

FBAR 2018 Update: Mastering FinCen Form 114 Deadlines, Extension, Penalty Resolution and Waiver Provisions Strafford  February 1, 2018 – 10:00 a.m. – 11:50 p.m. (Pacific) On February 1 Michel Stein will be hosting a Strafford Webinar “FBAR 2018 Update: Mastering FinCen Form 114, Deadlines, Extension, Penalty Resolution and Waiver Provisions”  The IRS announced more changes to the filing requirements … Continue reading WEBINAR featuring Michel Stein – FBAR 2018 Update: Mastering FinCen Form 114, Deadlines, Extension, Penalty Resolution and Waiver Provisions

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Tax Court to IRS: You’re Too Late Baby! by Robert S. Horwitz

As part of its crackdown on taxpayers who were not reporting income from overseas assets, in 2010 Congress enacted Internal Revenue Code sec. 6038D. That section requires a taxpayer to provide information about “specified foreign financial assets.”  It applies to tax years beginning after March 18, 2010.  The IRS developed Form 8938, Statement of Specified … Continue reading Tax Court to IRS: You’re Too Late Baby! by Robert S. Horwitz

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IRS’s FY 2017 Annual Report Blog #1: The IRS Appropriately Resets Its Criminal Priorities by Evan J. Davis

This is the first in a series of blogs that will analyze the IRS’s Fiscal Year 2017 Annual Report. This blog will focus on the shift away from easy cases in favor of harder cases such as foreign-account and hidden-income cases that most consider the core of IRS criminal enforcement. Later blogs will take a … Continue reading IRS’s FY 2017 Annual Report Blog #1: The IRS Appropriately Resets Its Criminal Priorities by Evan J. Davis

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Planning an Overseas Vacation? First Pay Your Taxes By Robert S. Horwitz

If you’re planning a vacation overseas in 2018 and you owe more than $50,000 in taxes, penalties and interest to the IRS, you have another thing coming. Beginning January 2018 the IRS will start implementing Internal Revenue Code section 7345.  That section was enacted in December 2015.  It says “If the Secretary receives certification by … Continue reading Planning an Overseas Vacation? First Pay Your Taxes By Robert S. Horwitz

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WEBINAR featuring Steve Toscher – The Perils of Civil and Criminal Tax Penalties: What You Need to Know

The Perils of Civil and Criminal Tax Penalties: What You Need to Know The Knowledge Group   January 11, 2018 – Noon – 1:30 pm (Pacific) On January 11 at Steve Toscher, Curtis Elliott, Jr. and Steve Mather will be hosting a Knowledge Group Webinar “The Perils of Civil and Criminal Tax Penalties: What You Need to Know.” The Internal … Continue reading WEBINAR featuring Steve Toscher – The Perils of Civil and Criminal Tax Penalties: What You Need to Know

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Is It Debt? Is It Equity? Let the Tax Court Decide by Robert S. Horwitz

A question that frequently arises in tax cases is whether a transaction is debt or equity. As Judge Alex Kosinski recently noted in Hewlett-Packard, Inc. v Commissioner, Dkt. 14-73047 (9th Cir., Nov. 14, 2016), https://cdn.ca9.uscourts.gov/datastore/opinions/2017/11/09/14-73047.pdf, it is a “timeless and tiresome question of American tax law”.  In arriving at the answer, which was “we defer to the … Continue reading Is It Debt? Is It Equity? Let the Tax Court Decide by Robert S. Horwitz

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IRS Complex Collection – Holiday Considerations and Collection Moratorium by Cory Stigile

As the holidays approach, it is a great time to think about your clients who have had difficulty paying their taxes. Below is a Top 5 list of enforced collection issues to think about this December. Collection Moratorium / Current Compliance – Although it is not an official policy position, during most of December the … Continue reading IRS Complex Collection – Holiday Considerations and Collection Moratorium by Cory Stigile

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Court Tightens Noose on Reasonable Cause Exception for the FBAR Penalty by Robert S. Horwitz

A U.S. person with foreign financial accounts worth over $10,000 during the calendar year is required to file a Foreign Bank Account Report (FBAR). Failing to file can result in either a “non-willful” or a “willful” penalty under 31 USC §5321(a)(5).  If the failure is non-willful, the person can avoid liability under the reasonable cause … Continue reading Court Tightens Noose on Reasonable Cause Exception for the FBAR Penalty by Robert S. Horwitz

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