Holding accounts in foreign banks can bring certain benefits, but it can also require close attention to tax rules in the United States. If you do not follow these rules, you may face trouble from the IRS. Many people with…
Receiving a letter from the IRS can feel stressful. You may wonder what the notice means and what you should do next. Sometimes, the notice is about a missing form or an amount the IRS believes you owe. Other times,…
In 2014, the IRS issued guidance explaining that virtual currency is treated as property for income tax purposes. It stated that tax principles applicable to transactions involving other types of property apply to virtual currency. In the last two years, the…
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At Thorgood Law Firm in New York, we are IRS attorneys dedicated to bringing legal counsel to taxpayers across the United States.
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