By Janathan L. Allen, APC of Janathan L. Allen, APC posted in Audits on Monday, June 1, 2015. The IRS is taking substantial heat from the US Senate regarding its decision to hire an outside law firm to assist with an investigation into Microsoft's alleged activities to shift profits offshore...
US Expats Affected by New Saudi Arabian Law Arising out of FATCA
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FATCA on Friday, May 29, 2015. The Foreign Accounts Tax Compliance Act or FATCA continues to have far reaching implications for US Expatriates, even affecting laws outside of the United States. Saudi Arabia recently announced and will soon...
How is FATCA Affecting Worldwide Banking and Tax Change?
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in Audits on Monday, May 25, 2015. The US Foreign Account Tax Compliance Act, or FATCA, has wrought significant and I believe historical change in the transparency of international banking and resulting US taxation. With the capitulation of Union...
Why US and California Taxpayers Need Help with the IRS Now More than Ever
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in Audits on Tuesday, April 28, 2015. "It looks to me like you're purposely harming taxpayers," Rep. Kristi Noem of South Dakota told IRS Commissioner John Koskinen at a recent hearing. Mr. Koskinen was reporting that over 8 million...
IRS Paid Businesses $3 Billion Too Much in Tax Credit Mistakes
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in Audits on Monday, April 27, 2015. Last week the Treasury Inspector General, an internal IRS watchdog, released a report that detailed extravagent mistakes by the IRS that has cost the US treasury billions. Most of the errors were...
Why Do So Many FBAR Taxpayers Want to Rely on Hope?
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FBAR on Thursday, April 23, 2015. There is a concerning trend we're seeing with FBAR taxpayers who are placing too much hope on the streamlined domestic offshore procedures option within OVDP. The core issue is what the IRS...
Why Did the US Invest All the Time and Money to Enact and Defend FATCA?
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in FBAR on Wednesday, April 22, 2015. Why did the US legislature pass FATCA? Why did the US Justice Department spend years and millions of taxpayer dollars pursuing foreign banks and investment houses in international courts? Why did a...
Woman Contacted by IRS Regarding False Identity Return Not Alone
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in IRS on Monday, April 20, 2015. The IRS has been contacting some taxpayers, including one woman in Lawrence Kansas, requesting additional identification due to a substantial increase in identity theft and fraud relating to using a false identity to...
IRS Targeting “Microcaptives” as Potential Tax Schemes
By Janathan L. Allen, APC of Janathan L. Allen, APC posted in Audits on Friday, April 17, 2015. The IRS has targeted and is agressively auditing "Microcaptives" as one of the more common schemes to avoid paying taxes. Larger corporations have created their own "captive" insurance companies for years. This...