Our Latest Blog Posts
The IRS can revoke your passport
If you do not pay your taxes, the IRS may revoke your passport. As the National Taxpayer Advocate (NTA) Nina E. Olson has recently pointed out in her blog, when a taxpayer is notified of such pending revocation, that the taxpayer, nor their power of attorney are notified. The Taxpayer Advocate Service (TAS) is an independent organization within IRS whose employees assist
New Jersey Enacts Tax Amnesty Bill
Enacted legislation requires the New Jersey Division of Taxation to establish a 90-day state tax amnesty period that ends no later than January 15, 2019. The Legislature had previously passed a bill requiring a six-month amnesty period that had to end by December 31, 2018. (TAXDAY, 2018/06/26, S.12) However, Gov. Phil Murphy conditionally vetoed the bill and signed it into
The TCJA and the Future of American Taxpayers
Our article on the new tax law was published today by the American Bar Association below... https://www.americanbar.org/groups/gpsolo/publications/gpsolo_ereport/2018/june-2018/tcja-future-american-taxpayers.html The TCJA and the Future of American Taxpayers Vol. 7, No. 11 Parag Patel and Anannya Tripathy Parag Patel, Esq., is a tax attorney in New Jersey and
Federal District Court Holds that FBAR Penalties in Excess of $100,000 is Unlawful
Recently, the U.S. District Court for the Western District of Texas in U.S. v. Colliot, determined that an individual who repeatedly failed to timely file Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts, commonly referred to as an FBAR, could not be penalized in excess of the $100,000 regulatory maximum even though the relevant statute allows higher