tax enforcement

IRS Extends Deadline for Offshore Voluntary Disclosure

Greg Herman-Giddens
August 29, 2011 19:41

Due to Hurricane Fran, the IRS has extended the deadline for the Offshore Voluntary Disclosure Initiative for foreign accounts to September 9, 2011.  U.S. taxpayers with foreign accounts totaling more than $10,000 at any time during the year must report the accounts to the IRS or face...

IRS Eliminates Innocent Spouse Two Year Limitation

Greg Herman-Giddens
August 05, 2011 15:19

From IR-2011-80, issued on July 25, 2011: The IRS launched a thorough review of the equitable relief provisions of the innocent spouse program earlier this year. Policy and program changes with respect to that review will become fully operational in the fall and additional guidance will be...

Today is the Deadline for Foreign Account Reporting

Greg Herman-Giddens
June 30, 2011 13:57

From IR-2011-70: WASHINGTON — The Internal Revenue Service today reminds everyone who has a bank or other financial account in a foreign country, or who has signature authority over such an account, that they may be required to report the account to the U.S. Department of the Treasury by June...

4th Circuit Upholds Two-Year Innocent Spouse Limitation Period

Greg Herman-Giddens
June 24, 2011 16:44

The U.S. Fourth Circuit Court of Appeals, under whose jurisdiction North Carolina falls, overruled a Tax Court decision and upheld a Treasury regulation that provides for a two-year statute of limitation on claims for innocent spouse relief (Jones v. Commissioner, docket no. 10-1985 (4th Cir....

IRS Warns of 12 Current Tax Scams

Greg Herman-Giddens
April 07, 2011 19:43

IR-2011-39: Video: Dirty Dozen: English  |  Spanish  |  ASL  WASHINGTON –– Hiding income in offshore accounts, identity theft, return preparer fraud, and filing false or misleading tax forms top the annual list of “dirty dozen” tax scams in 2011,...