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Taxes From A To Z (2013): V Is For Voluntary Disclosure
V is for Voluntary Disclosure. I know what you’re thinking: this doesn’t apply to me because I don’t have offshore accounts. But don’t leave just yet. It’s not only taxpayers with offshore accounts that might qualify for voluntary disclosure programs. While most taxpayers are familiar with the 2012 Offshore Voluntary Program (and its predecessors, the…
Snakes In A Tax Office
It’s not unusual to hear reports of corruption in tax offices in some states in India. Taxpayers have come to understand that it’s a way of life, including regular demands by public officials to pay bribes, sometimes holding tax records hostage until the bribes were paid. Well, some taxpayers. Two farmers in Basti, located in…
Report To Congress: IRS Is Increasingly Unable To Meet Taxpayer Needs
Today, National Taxpayer Advocate Nina E. Olson released her 2013 annual report to Congress, urging IRS to take steps to increase trust in the agency, strengthen its ability to serve taxpayers and collect tax. What’s standing in the way? She had the answer to that, too.
Tax Trivia: Tax Treaties
We have a winner! Jeremy guessed first that the right letter was S (Slovak Republic, Slovenia, South Africa, Spain, Sri Lanka, Sweden, and Switzerland. Keep watching for our next question. It’s tax season! Okay, it’s a weird tax season, but still tax season. And that means tax trivia! Our next tax trivia question is: The…
Fourth Largest Tax Prep Business In The Country Shut Down By Feds
The pool of tax preparation services just got a little smaller: a federal court judge has ordered Instant Tax Service (“ITS”), the fourth-largest tax preparation business in the United States, to stop all operations permanently for “extensive and egregious, indeed appalling” harm to taxpayers.
Tax Time & Recordkeeping
Today is the deadline for corporate taxes. It’s also the Ides of March. On this day, Julius Caesar allegedly met a seer who claimed that harm would come to him not later than the Ides of March. Caesar remarked to the seer, “Well, the Ides of March have come.” The seer replied, “Ay, they have…
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