Here are some of the Commissioner’s Comments yesterday at: IRS/GEORGE WASHINGTON UNIVERSITY24TH ANNUAL INSTITUTE ON CURRENT ISSUES ININTERNATIONAL TAXATIONWASHINGTON, DCDECEMBER 15, 2011 The full text of the speech is below, but here are a few comments...

This comes up very often. How do we decide on whether to be a “C” Corporation or an “S” Corporation? You might also want to operate as a Limited Liability Company which is much like an S Corporation, but that’s for another Blog. Yeap…this is a description...

This Forbes article includes the following letter. Please click here to read the full Forbes article. To view the IRS’s release please click here. Update: 11/23/11 - The IRS RespondsView the Forbes article here. Mr. Douglas Shulman Commissioner...

While a Form 1065 Partnership return results in no tax due by the partnership, the IRS demands the forms be filed on time so that the partners have information to compute and pay their taxes using Schedule K-1 coming from the Form 1065 return. Therefore,...

Be careful not to refer a poor/old/disabled or frugal person to the free I.R.S. VITA (Volunteer Income Tax Assistance) program. That appears to be a bad idea. 61% of the tax returns they prepare are incorrect, per the Tax Inspector General for Tax Administration...

Taxpayers who were enticed by UBS to put their money in Swiss bank accounts (and who then suffered mightily with the IRS going through the Voluntary Disclosure Program) are now fighting back and suing UBS for their dubious financial advice. Here’s a...

My only comment after fighting battles with the IRS for 30 years is: It’s about time someone noticed! See below. Treasury Inspector General for Tax Administration Press Release August 10, 2011 TIGTA - 2011-45 Contact: Karen Kraushaar (202) 622-6500...

I’m going to say what you’ve been thinking, but may be a little afraid to say. This is opinion, not a recommendation. Why should we continue to pay our taxes if the U.S. Government can’t maintain AAA credit rating? Of course, the answer is because...

The Financial Crimes Enforcement Network (FinCen) of the Department of the Treasury has set up an electronic filing system for FBARs. That’s good, but I wish they would have made this part of the E-Filing system for tax returns, as many folks had asked,...

The following is a summary of the most important tax developments that have occurred in the past three months that may affect you, your family, your investments, and your livelihood. Please call us for more information about any of these developments...

Please see: http://finance.yahoo.com/news/AP-NewsBreak-Taxpayer-apf-3714430289.html “The IRS is grappling with a nearly five-fold increase in taxpayer identity theft between 2008 and 2010, a Government Accountability Office official plans to tell a House...

From Ron: Our current tax system in the United States is a dysfunctional embarrassment to Capitalism and the precepts of a free country. Heres a path forward: Testimony of Karen Walby...

This 60 minute piece covers so many issues that we’ve been telling clients for years about multi-national tax planning. It is comprehensive and technically accurate. Enjoy. http://www.cbs.com/primetime/60_minutes/video/?pid=rHgmVWcA9rp3NdUHY63IbYQQFmfWAHuk&vs=homepage&play=true....

We would be happy to assist you with setting up the Double Irish tax planning strategy in a legal manner when it is helpful and your business operates in a manner that can benefit. See the article at the link below for an excellent review of this issue....

INTERNATIONAL TAX PENALTIES Tax Update Video for the Week of 2/21/2011: http://www.youtube.com/watch?v=9nQfRvkuieQ Please call or write if you have any questions, 510-797-8661 or 1-877-CPA-2006....

Our Video:http://www.youtube.com/watch?v=na07sLyfxLs&feature=player_embedded See more on this issue: Our Blog: http://www.groco.com/readingroom/intl_video_voluntary_disclosure.aspx Disclosures must be filed with the IRS by August 31, 2011....

By Ron Cohen, CPA, MST PartnerGreenstein, Rogoff, Olsen & Co., LLP Unreported Offshore Income IRS Disclosure Program. Tax Weekly Update with Ron Cohen, February 14, 2011 Our Videohttp://www.youtube.com/watch?v=na07sLyfxLs&feature=player_embedded...

Tax Update Video for the Week of 2/7/2011: http://www.youtube.com/watch?v=FyI3OH7KUzs Please call or write if you have any questions, 510-797-8661 or 1-877-CPA-2006....

The blog assumes you reported within your tax return income, deductions and credits that are a reasonably correct interpretation of the law. We are, in no way, encouraging or assisting any taxpayer that is attempting tax evasion or fraud. Dealing With...

Dear Clients & Friends: Despite calls for simplifying the tax laws, they have actually been made much more complicated in the last few years. Year after year, there have been numerous tax changes that even some professionals have a tough time keeping...

OLD RULE: A calendar year taxpayer bought a $50,000 heavy SUV in June of 2010 and used it 100% for business in 2010. It may write off $40,000 of the cost of the vehicle on its 2010 return, as follows: ... $25,000 expensing deduction (Sec. 179(b)(6)...

Dear Client & Friends: The tax laws enacted in the last couple of years contain important income tax and information reporting provisions that are effective for the first time in 2011. To inform you of what's new in the tax rules, here's a summary of...

S corp. shareholders, please be careful on this issue. Your poor tax CPA is telling you this bad news in an honest attempt to keep you out of trouble. S Corp. profits earned from the personal services of the S Corp. shareholders need to be treated as...

Dear Clients and Friends: While the new law tax changes in the bipartisan legislation that was enacted in late 2010 were the most significant developments in the fourth quarter of 2010, many other tax developments may affect you, your family, and your...

A recent report from the Treasury Inspector General for Tax Administration (TIGTA) found that the number of individuals filing a Report of Foreign Bank and Financial Accounts (FBAR) with the Department of the Treasury has increased annually from 2004...