A billionaire is trying to get the court to accept a $1.45 billion from his family trust. The payment would be in exchange for the IRS relaxing liens on his family and assets. U.S. vs. Robert Brockman Robert Brockman is the defendant in the country's largest tax...
Running a business can be difficult, but it's important to make sure that you're doing everything within legal confines. One thing you want to avoid is facilitating tax evasion in your business. This can get you into a lot of trouble with the IRS and could even lead...
Many individuals worry about receiving a letter from the Internal Revenue Service (IRS) notifying them that their taxes are being audited or, worse, that the federal agency has determined that they owe back taxes. Individuals who receive such correspondence may view...
Multiple global forces have contributed to increased tax audits, assessments and disputes arising from international revenue authorities. Both direct and indirect taxes are susceptible to these situations. The new circumstances require multinational companies to...
The IRS has made it mandatory for all U.S. citizens and Green Card holders to file their tax returns annually. You can file your taxes yourself using tax preparation services such as H&R Block or Liberty Tax. In essence, tax preparation services help people with...
Corporations are entitled to deductions that will be subtracted from the total gross revenue of the business. The total is the corporation's taxable net income. For corporations in Massachusetts, some taxes are deductible under the Federal Internal Revenue Code but...
When a married couple files a joint return, both spouses are considered to be responsible for the entire tax liability. There are circumstances when one spouse may not be an active participant in the family's finances or be aware of all the information in the tax...
Sales tax compliance is the preparation and filing of sales and use tax returns. Companies have to provide exacting and detailed analysis of transaction-by-transaction dealings. It's a complex and challenging process for even the most powerful companies. When errors...
Receiving a letter from the IRS about a tax issue can be stressful. It could be a minor issue such as missing or incorrect information on your recent tax filing or something as serious as tax fraud. Whatever the case, it's important to go through the letter to...
A tax crime occurs when a person willfully or unwittingly fails to comply with federal income tax obligations. As the IRS is charged with the responsibility of collecting taxes and enforcing tax laws, they aggressively seek out tax defaulters with the aim of...
