Issues discussed: Mr. C asks: Did I hear you talking on your radio show about how the IRS can levy accounts before proving any wrong-doing? The 5 biggest Homeowner Tax Breaks
Topics Covered: 1. An Unusual But Effective IRS Collection Tool: The Writ Of Ne Exeat Republica 2. The IRS Does Care About Your Small Undisclosed Foreign Bank Account! 3. Freelancer? Avoid these ‘7 deadly sins’ at tax time. 4. Questions from our listeners: a. Will the IRS punish me if I hire a tax attorney? b. Should […]
Congress has given the IRS potent tools to collect taxes. The IRS can impose liens on a taxpayer’s property and can seize it through levy, all without prior judicial authorization. But for taxpayers who attempt to move or keep their assets offshore to circumvent IRS collections – beware of the writ of ne exeat republica. […]
Since 2009 the IRS campaign against unreported income and undisclosed foreign accounts has morphed from a focus on Swiss banks and large accounts to a kind of everyman’s tax disclosure. But keep in mind that just like when the net is lowered into the water it catches all sizes of fish – the IRS states […]
In separate reports, Zen99 and the consumer finance web site nerdwallet ranked Los Angeles the best city for freelancers. In 2012, 12% of people in Los Angeles reported themselves as self-employed. Each of these website reports considered housing and health care costs, the percentage of freelancers in an area as factors. Even before the sharing economy […]
Topics Covered: 1. Even Grandmothers and Widows Are Not Safe From IRS Bank Account Seizures 2. FATCA and FBAR 3. The 5 Biggest, Best Homeowner Tax Breaks – Get Them While They Are Still Here! 4. Questions from our listeners: a. I hear you say that you are Board Certified in Tax – what does […]
On a recent airplane trip from the Bay Area to Southern California, I sat beside a distinguished-looking elderly man. I initiated a conversation with him and found out he was a former judge now living in Mexico. We talked about everything, including taxation. The former judge admitted that he was an American citizen and he […]
Leaving off deductions you’re eligible for, such as mortgage interest and property taxes, is leaving money on the table and with tax reform revving up again on Capitol Hill, with the heads of key committees pledging to work toward a simpler and fairer tax code, Congress may ne looking to tradeoff these tax breaks with […]
Beware IRS is stepping up enforcement action of the Bank Secrecy Act in closing out bank accounts of U.S. taxpayers making cash deposits. Ronald Malone and his wife Janet Malone of Dubuque, Iowa lived a simple life and enjoying their retirement. Shortly before Ronald’s death in October 2011, Ronald told his wife about a briefcase […]
Topics Covered: 1. Wife Convicted Of Murdering Husband To Avoid Him Learning Of Their Outstanding IRS Debt 2. The Tax Benefits Of Claiming Your Sweetheart on Your Tax Return Or Writing Off The Costs Of Marrying Your Sweetheart 3. IRS Extends A Sweetheart Deal To U.S. Taxpayers With Undisclosed Foreign Bank Accounts 4. Questions from […]
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