Entries by Tax Attorney

IRS Warning: Beware Email Phishing Scheme Falsely Claiming to be from the Taxpayer Advocate Service

From time to time the IRS issues consumer warnings on the fraudulent use of the IRS name or logo by scammers trying to gain access to consumers’ financial information in order to steal their identity and assets. When identity theft takes place over the Internet,it is called phishing. Suspicious e-Mail/Phishing Phishing (as in “fishing for […]

KahnTaxLaw on the ESPN Mr. Credit show – March 27, 2014

Topics Covered: 1. Protect yourself: Scammers targeting taxpayers, including recent immigrants, throughout the country. 2. Types of audits that the IRS conducts and deadline to finish an audit. 3. Top 10 “red flags” that could increase the chance you’ll be targeted for an audit. 4. Will the IRS punish me if I hire a tax […]

Top Questions On IRS Audits

Many people have approached me with questions on IRS audits and so I have taken the most popular questions and laid them out in this blog with my response. 1. I received an IRS Notice informing you that your return has been selected for examination. What should I do? The fact that your return has […]

Received A Notice Of Deficiency To Appeal IRS Proposed Adjustments To The U.S. Tax Court? Let us help you

Before adjustments from an audit can be finally assessed, a taxpayer must be given the right to appeal to the United States Tax Court if the taxpayer should disagree with the findings of the IRS audit. The Appeals Office (or in certain cases the IRS agent) will issue a “90-day Letter” to a taxpayer, which […]

FBAR: Goodbye Form TDF 90.22-1 and Hello FinCEN Form 114

The Financial Crimes Enforcement Network (FinCEN) is a bureau of the United States Department of the Treasury that collects and analyzes information about financial transactions in order to combat domestic and international money laundering, terrorist financing, and other financial crimes. On September 30, 2013, FinCEN posted on their internet site, a notice stating that the […]

Opting-Out Of OVDI – Top Questions Answered

IRS has established programs for taxpayers to voluntarily come forward and disclose unreported foreign income and foreign accounts under what the IRS calls the Offshore Voluntary Disclosure Initiative (OVDI). On January 9, 2012 the IRS announced the terms of the 2012 OVDI which requires that taxpayers: (1) File 8 years of back tax returns reflecting […]