By Janathan L. Allen, APC of Janathan L. Allen, APC posted in IRS on Wednesday, July 2, 2014. The difference between a determination of "willful" versus "non-willful" conduct by the IRS is the difference between a 50% penalty calculation and potentially a 5% penalty for FBAR violations. There are thousands...
Internal Revenue Service’s International Tax Collection Efforts Are Deficient
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FATCA on Monday, November 3, 2014. The Internal Revenue Service wants to collect taxes on income earned outside of the United States. The Foreign Account Tax Compliance Act ("FATCA") is one method that the IRS and the U.S....
Living abroad? Understand your tax obligations
On behalf of Janathan L. Allen, APC posted in IRS on Friday, January 24, 2014. Americans who live outside of the United States are still required to follow strict tax laws. These tax laws can be very complex and difficult to navigate but it is very important for Americans living...
New tax preparer rule by IRS gets knocked down
On behalf of Janathan L. Allen, APC posted in IRS on Friday, February 21, 2014. A couple of weeks ago, we talked about the limited nature of the Internal Revenue Service this year because of sequestration in late 2013. In that post, we raised a few questions about the IRS...
Sequestration limits IRS this tax season, so be careful
On behalf of Janathan L. Allen, APC posted in IRS on Wednesday, February 5, 2014. Most Americans heard about the sequestration episode from late last year, where the government was shut down for weeks, thus affecting a wide array of federal departments. The Internal Revenue Service was one of these...
California Swiss Account Holders Will Be Required to Update FBARs with Previously Undisclosed Account Data
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in IRS on Friday, May 16, 2014. Californians who have previously not reported assets and accounts they had secreted in Swiss institutions will be required to file amended Foreign Bank Account Reports, or FBARs with the IRS. The deadline...
US Expatriates Should File a Return with the IRS – Even if They Don’t Believe They Owe any Tax
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in US Expatriates on Wednesday, May 21, 2014. Why should a US expatriate file a federal income tax return with the IRS even if they believe the amount owed is $0.00? An expat may earn less than the $9,350.00...
IRS Audit Enforcement 20% Lower than 2010 According to USA Today
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in IRS on Friday, March 20, 2015. The USA Today released an article yesterday citing the "Center on Budget and Policy Priorities" which stated the IRS has 20% less resources for enforcement today than in 2010. So is it...
How Did the IRS Find Out About My Swiss Accounts and Foreign Assets?
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FATCA on Friday, June 13, 2014. The shortest and most relevant answer to the question of how the IRS discovered almost $2 Trillion in hidden assets in offshore accounts and property is FATCA. The US Justice Department pursued...