Entries by Tax Attorney

Claiming Deductions for a Home Office

The tax law allows qualified taxpayers to deduct a home office.  However, because the IRS perceives that taxpayers either misuse or abuse this deduction, the IRS puts these taxpayers at a higher risk for audit. The tax attorneys of the Law Offices Of Jeffrey B. Kahn, P.C. can provide you with guidance in balancing the […]

Disclosing Foreign Accounts Through the Offshore Voluntary Disclosure Initiative

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 […]

IRS Processing Information Reported by Foreign Banks of their U.S. Accountholders

The Department of Justice started pressuring Swiss Banks including UBS and Credit Suisse to reveal bank account information on their account holders who are U.S. citizens or U.S. residents. Information from the Swiss Banks and other European Banks has now been flowing to IRS and is being used by IRS to uncover taxpayers who have […]