FATCA has been on the books since 2010. While the United States is taking the heat for pushing for an Orwellian, virtual, international banking and taxation data base, recall that the overwhelming majority of developed countries are unabashedly “FATCA Friendly.” Just...
Taking A Cooperative Approach To Your Legal Issues
Month: January 2016
IRS Publications 1 and 594
A taxpayer’s basic rights with respect to collection of a tax debt are outlined in two IRS publications. The IRS will routinely ask taxpayers owing a tax debt if they understand their rights outlined in Publications 1 and 594. Publication 1 is appropriately titled Your Rights as a Taxpayer. Those rights include: 1. The Right to Be Informed – Taxpayers…
UNDERSTAFFING THE IRS HURTS A LOT MORE THAN TAXPAYER SERVICE
“In theory there is no difference between theory and practice, but in practice there is.” Yogi Berra Most of the publicity on Congress’ multi-year punishment program for the IRS focuses on the budget cuts for taxpayer assistance. In theory, with the complexity of the...
FATCA, FBARs, AND THE IRS: THE EROSION OF THE PRINCIPLE OF VOLUNTARY SELF-REPORTING
STEVE MOPSICK'S SPEECH TO SAN FRANCISCO TAX CLUB--JANUARY 14, 2016 This talk could easily have been titled “a look at the IRS in difficult times.” Unfortunately it is not a pretty picture. I want to share some perspectives with you which should make you concerned if...