I just googled “IRS audit of Google” and found this blog post by Paul Caron: Bloomberg, Google Tax Probe to Focus on Offshore Units, by Jesse Drucker: The IRS is auditing how Google avoided federal income taxes by shifting profit into offshore subsidiaries, according to a person with knowledge of the matter. The agency is [...]
Tags: Announcements · International Taxation · IRS Audits
Joe Kristan writes in Darth Shulman to Foreign Account Holders: I am Altering the Deal. Pray I Don’t Alter it any Further: Jack Townsend explains the IRS bait and switch in its 2009 foreign account “amnesty”: …the Taxpayer Advocate criticizes the IRS’s implementation of its statement in the 2009 Voluntary Disclosure Program that “[U]nder no circumstances will [...]
Tags: International Taxation · IRS Audits · IRS procedure · voluntary disclosure
The Washington Times says that conservative bashing tax-exempt organization Media Matters for America should lose it’s tax-exempt status (emphasis added): David Brock, the conservative turned liberal advocate, has recently garnered a considerable amount of press coverage for his attacks on Fox News for, among many other things, allegedly taking over leadership of the Republican Party. [...]
Tags: Politics · Politics of Taxes
Carmen Nobel of Harvard Business School’s blog Working Knowledge writes in Signing at the Top: The Key to Preventing Tax Fraud: [M]any taxpayers give in to the temptation to cheat on their taxes—in spite of the requirement for them to sign a statement declaring that the information on the form is “true, correct, and complete.” [...]
Tags: Individual Taxation · Tax Crimes
WebCPA reports that the IRS has agreed with recommendations in a newly released government report urging the agency to increase its examinations of individual tax returns that report losses from rental real estate activity: The report, by the Treasury Inspector General for Tax Administration, was conducted because a Government Accountability Office report in August 2008 [...]
Tags: Business Transactions · Deductible Expenses · IRS Audits
Social Justice Newsflash: A disproportionate number of white people die in Rolls Royce accidents. A fellow named Thomas M. Evans says that a disproportionate number of black and Hispanic people are the subject of IRS enforcement action. Shawn Tully of Fortune Magazine has the story in a misleadingly titled article The IRS’s Problem with Minorities: Is the [...]
Tags: IRS Audits · IRS Liens and Levies · IRS procedure
Robert Flach announces his publication of a new newsletter for sole proprietors and single-member schedule C filers entitled, aptly enough, The Schedule C Letter: THE SCHEDULE C LETTER is a bi-weekly newsletter that provides tax planning and preparation advice, information, and resources for sole proprietors and one-person LLCs who report their business activity on IRS Schedule C.¹ I have [...]
Tags: Business advice · C Corporations · S Corporations · Self-Employed Taxpayers · Tax Tips
