Yearly Archives: 2012

Notably, although the two were clearly “responsible persons,” it was unclear at what point they became aware that the taxes weren't being paid and to what extent they actually controlled the company's finances.

If you have Payroll Tax Problems, contact the Tax Lawyers at Marini & Associates, P.A. for a FREETax Consultation at www.TaxAid.us or www.TaxLaw.ms or Toll Free at 888-8TaxAid (888 882-9243).

The Taxpayer Advocate Service (TAS) changed its criteria for accepting individual taxpayer cases for assistance, reducing the instances in which it will accept cases. The TAS said it took this action so that it can focus on cases “where we can add the most value.”

In a notice to taxpayers and tax professionals, the TAS described exceptions to a ase acceptance policy it adopted last year. Generally, the TAS said, it accepts four types of cases:

In this Article Navavati asks "Have you ever been surprised by Facebook or LinkedIn’s ability to suggest people to whom you may be connected, when even you had forgotten how you were connected to those people?"  

"Perhaps the social networks’ technology crunched data that you provided on your home town, Boy Scout troop, high school, first job at McDonald’s, or flyfishing hobby, to find latent connections between you and a long-lost acquaintance."

U.S. taxpayers who are still considering whether to disclose their accounts need to understand that IRS's data-mining software, E-Trak Offshore Voluntary Disclosure system, increases their risk of being detected.

"Use of such data-mining technology is widespread, and the Internal Revenue Service has adopted it to find taxpayers with undisclosed offshore bank accounts. U.S. taxpayers who are still considering whether to disclose their accounts need to understand that IRS’s data-mining software increases their risk of being detected. They should act accordingly and seek legal advice immediately."

Additionally, the phasing in over the coming year of the Foreign Account Tax Compliance Act (FATCA) will only increase the breadth and depth of the data available to IRS and E-Trak.

If you have Unreported Income From Offshore Banks, contact the Lawyers at Marini & Associates, P.A. for a FREE Consultation at www.TaxAid.usor www.TaxLaw.msor Toll Free at 888-8TaxAid (888 882-9243).

Call US before Uncle Sam finds you!

The American Institute of CPAs (AICPA) has become aware of a widespread problem affecting numerous taxpayers across the country (including taxpayers in: California, Florida, Maryland, Massachusetts, New York, and Washington) as well as taxpayers in Canada who are receiving incorrect letters from the Internal Revenue Service (IRS) regarding the completion and filing of Form 3520, Annual Return To Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts, for 2010 and earlier years.

The AICPA urged the IRS to investigate to determine the source of the processing problem so it could stop sending out the erroneous letters and to consider issuing an announcement that such erroneous letters do not require a response.

“The letters are inconveniencing taxpayers and causing them to incur unnecessary professional fees when practitioners must respond to the IRS explaining why the IRS letters are incorrect and request an abatement of the penalties,” the AICPA said in its Aug. 28, 2012 letter to the IRS.The letters with erroneous conclusions are being received by taxpayers who filed Form 3520, Annual Return To Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts, for 2010 and earlier years.

The AICPA letter described six specific errors the IRS letters claim taxpayers have made, including filing Form 3520 late when it was filed on time.