According to the IRS, virtual currency is “a digital representation of value that functions as a medium of exchange…” However, it does not have legal tender status in any jurisdiction of the United States. Virtual currency is used similarly to…
As a result of substantial pressure by U.S. tax authorities on banks in the United Kingdom, many British citizens born in the United States are currently at risk of having their accounts in British banks frozen. The Brits involved are…
IRS grants waivers of tax underpayment penalties for more than 400,000 taxpayers. . . In the middle of August, the IRS announced it would automatically waive the tax underpayment penalty for more than 400,000 taxpayers who have already submitted their…
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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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