Monthly Archives: November 2012

Communist Taxes – No Longer an Oxymoron

Very few people in the United States could possibly remember a time when there were no income taxes, since Uncle Sam has been collecting them for the past 100 years now.  But in the communist nation of Cuba, few people remember what it is like … Continue reading

Posted in International Tax News | Leave a comment

Bill Would Allow IRS to Levy Federal Employees More Easily

A new bill making its way through the legislature would allow the IRS to levy Thrift Savings Plan (TSP) accounts.  A TSP is offered to employees of the federal government as a way to save for retirement and is modeled … Continue reading

Posted in Tax Legislation | Tagged , | Leave a comment

If you Don’t Have a Friend Like Sheen

Not everyone has a Charlie Sheen they can turn to when the IRS comes knocking.  You can blame your accountant for your IRS problem, or you can blame your ex-spouse, or you can blame the economy.  But chances are the IRS … Continue reading

Posted in Tax Tips | Leave a comment

Three Projects for the New Commish

Forbes contributor Stephen Dunn recently blogged about the challenges facing the presently-unnamed IRS Commissioner.  He identified three problems that he feels should be given serious attention once the new commissioner takes office. 1. IRS practioners need a more efficient way to get their hands … Continue reading

Posted in IRS News & Info | Tagged , , , | Leave a comment

Tax Considerations for MLB Free Agents

Major League Baseball (MLB) free agents should consider the tax consequences of playing for a team located in a high tax state.  Players always go into negotiations with their agent at their side; should they maybe have a tax attorney … Continue reading

Posted in Baseball, Tax News | Tagged , | Leave a comment

The Sacramento Gold Dust Mystery

In these days of FATCA and offshore accounts, for some it is hard to imagine those days when the preferred place to hide money was under a mattress or in a backyard hole.  There could be many reasons for wanting … Continue reading

Posted in Financial News, Tax Tips | Tagged , | Leave a comment

IRSAC 2012 Report, Part II

Identity theft is another prevalent issue for the IRS and another topic that the IRSAC has attempted to address in its report.  But I don’t think their recommendation for curbing identity theft would be popular with most taxpayers who (mistakenly) see … Continue reading

Posted in IRS News & Info, Tax News | Tagged , , | Leave a comment

IRSAC 2012 Report

The 24-member Internal Revenue Service Advisory Panel (IRSAC) published their 2012 public report, and their suggestions for improving the Practioner Priority Service (PPS) are spot on.  If the IRS follows these recommendations, there is no question it will improve access to tax relief. … Continue reading

Posted in IRS News & Info | Tagged , , | Leave a comment

The Nutella Tax

If you’re like me, part of the appeal of traveling and visiting new places is the FOOD. And vacationing in Europe is expensive enough as it is, but by the time I get a chance to visit, all I’m going … Continue reading

Posted in International Tax News | Tagged , , , | 1 Comment

The Dangers of the Split Refund Option

TIGTA has sniffed out another serious IRS problem.  The latest TIGTA report expresses Treasury’s concern with the administration of direct deposit refunds by the IRS.  More taxpayers than ever are taking advantage of this option because it is the most … Continue reading

Posted in TIGTA audits | Tagged , , , | Leave a comment