Income Archives - Page 17 of 21 - FREE Yourself from IRS Problems

Shamsey Oloko February 18, 2016 Civil Penalties, Fast Track Settlement Program, FATCA, FBAR, Foreign Financial Account, Income, Settlement 0

For Americans abroad, surviving in the world of FATCA and FBAR

In March, 2010, FATCA , or The Foreign Account Tax Compliance Act, was enacted by Congress to remedy a perceived growing problem with foreign banks facilitating and encouraging U.S. taxpayers to conceal assets in their financial institutions. Seventy-nine countries have since…

Shamsey Oloko January 26, 2016 Form 1040, Income, Tax fraud & evasion, Taxable Income 0

REPORTING GAMBLING LOSSES AND INCOME

Americans love to gamble. Humans love to gamble for that matter. Whether you bet on football, play poker or bet on the horses, your winnings are taxable and you must report them on your tax return. The rules apply even…

Shamsey Oloko March 27, 2015 Audit, Civil Penalties, Criminal Liabilities, Income, News 0

What Happens when Your Receive a Tax Summons?

Other than receiving a refund check, correspondence with the IRS is usually a stressful experience to say the least. However, as understandable as it is to ignore the notice for as long as possible, the truth is that you will…