Tax fraud can take many different forms. Below are the top federal tax fraud cases last year. Crypto Seizures: more than $7 billion. In February, 2022, it was announced that IRS Criminal Investigations Cyber Crime Unit
Since New Jersey sales tax rules differ based on the type of work performed, it is important to understand the classifications to avoid paying too much or too little in taxes. What work is exempt
The new 2023 Tax Budget in India has many new proposals. However, the most important proposal for investors, especially non-resident Indians, is a new penalty for providing inaccurate information for KYC (Know Your Customer) including
Trustees and executors have the ability to make certain elections on, or before, March 6, 2023 that could affect 2022 tax returns of the trusts and estates for which they are fiduciaries, as well as
U.S. persons, including U.S. citizens, residents, corporations and estates, must report certain foreign financial accounts, including bank accounts, brokerage accounts and saving accounts to the U.S. Treasury department each year. If the aggregate value of
The Internal Revenue Service still rarely audits millionaires, according to a new report published by Syracuse University’s Transactional Records Access Clearinghouse. Despite calls to ramp up scrutiny of high-net-worth individuals’ tax returns and wealthy tax
As a result of taxpayer confusion, lack of guidance, concerns about the existing backlog, and impact on the upcoming filing season, tax professionals urged the IRS to postpone the implementation of the new reporting requirements
Both Accountant-Client vs Attorney-Client Confidentiality are designed to protect the privacy of the client and to ensure that the client can trust their lawyer or accountant to handle sensitive information with care. However, there are
The idea of a visit to an attorney for your estate planning can be unsettling and daunting for many people. As a result, people often procrastinate. To help facilitate the process below is a list
The question of how much time the government has to pursue tax fraud (also known as the statute of limitations) is often misunderstood. It is important to note that the indefinite or unlimited fraud statute
The Taxpaper Roadmap was recently created by The Taxpayer Advocate Service, an independent organization within the IRS. This map illustrates, at a very high level, the stages of a taxpayer’s journey, from getting answers to
Thanks to the Internal Revenue Service’s release of Rev. Proc. 2022-32, married couples who are not otherwise required to file an estate tax return at the death of the first spouse now have substantially more
