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Oct 20, 2020, 06:37 ET From the Tax Law Offices of David W. Klasing - IRS Adding a Cryptocurrency Question to Page One of Form 1040 Signals Increasing Enforcement

Page one of the 2020 Form 1040 will query taxpayer's whether they have engaged in virtual currency transactions. As a part of the 2019 Form 1040, a...


Oct 15, 2020, 06:37 ET From the Tax Law Offices of David W. Klasing - IRS Targeting the Wealthy for Audits and Criminal Tax Investigations

In recent years, the IRS has come under fire from some prominent critics in Congress about the fact that the agency seems to have disproportionately...


Oct 14, 2020, 06:37 ET From the Tax Law Offices of David W. Klasing - What Percentage of Federal Tax Offenders Were Sentenced to Prison in 2019?

The following statistical information is sourced directly from the United State Sentencing Commission USSC. Our Tax Attorneys have excerpted some of...


Oct 08, 2020, 06:37 ET From the Tax Law Offices of David W. Klasing - How Does the IRS Criminal Investigation Voluntary Disclosure Process Work?

It can take many years after tax fraud is perpetrated for the IRS to discover what occurred and seek out the taxpayer for potential civil fines and...


Oct 07, 2020, 06:37 ET From the Tax Law Offices of David W. Klasing - When should you consider appealing an IRS audit assessment and what is involved?

It can often be financially worthwhile to appeal an IRS audit decision to the U.S. Tax Court, where fresh eyes outside and independent of the IRS...


Sep 29, 2020, 06:37 ET From the Tax Law Offices of David W. Klasing - Does an FBAR Willful Penalty Automatically Make You Guilty of Fraudulent Failure to File Income Tax?

U.S. citizens with overseas assets or offshore bank or financial accounts are required to report these holdings to the IRS each year on a "Report of...


Sep 23, 2020, 06:37 ET From the Tax Law Offices of David W. Klasing -When might you want to sue the IRS in Federal Tax Court?

Each year, the IRS conducts hundreds of thousands of audits, looking into the accuracy of the returns of U.S. citizens from all walks of life and...


Sep 15, 2020, 06:37 ET From the Tax Law Offices of David W. Klasing -Does the IRS Pay Attention to Your Ongoing Compliance after Filing an Offshore Voluntary Disclosure?

Every year, American taxpayers with a qualifying amount of assets in offshore bank or financial accounts are required to make full disclosure of...


Sep 03, 2020, 06:37 ET From the Tax Law Offices of David W. Klasing -Do Individuals and Businesses Need to File Reports of Large Cash Transactions?

Because large cash transactions are known to be involved in money laundering there is a law requiring any person that receives over $10,000 in cash...


Sep 02, 2020, 06:37 ET From the Tax Law Offices of David W. Klasing - If You Find Issues with Past Tax Returns, Should You Submit Amended Tax Returns?

Tax returns can be complex, especially for large domestic and international businesses or individual taxpayers with lots of offshore bank and...


Sep 01, 2020, 06:37 ET From the Tax Law Offices of David W. Klasing -Taxpayers are Successful in FBAR Penalty Defense Case

Each year, U.S. taxpayers with money or income generating assets in offshore bank or financial accounts are required to disclose these accounts...


Aug 26, 2020, 06:37 ET From the Tax Law Offices of David W. Klasing - There Is an International Task Force Cracking Down on U.S. Tax Crimes

While many people may think of the IRS as a purely domestic agency, this is far from the truth. Some of the IRS's most important work involves...


Aug 25, 2020, 06:37 ET From the Tax Law Offices of David W. Klasing - What Factors Can Trigger a High-Risk Egg Shell Audit / Criminal Tax Investigation?

If serious tax fraud becomes suspected by a federal or state taxing authority an eggshell audit or even a criminal tax investigation could result in...


Aug 11, 2020, 06:37 ET From the Tax Law Offices of David W. Klasing - Does the IRS Share Voluntary Disclosure Information with State or Local Authorities & other Federal Agencies?

In recent years, the IRS has greatly expanded its voluntary disclosure program, where taxpayers who have committed intentional or unintentional...


Jul 28, 2020, 06:37 ET From the Tax Law Offices of David W. Klasing - Can a CEO / CFO/ Controller/ Any Officer/ Accounting Employee of a Company be Criminally Charged for Tax Fraud at the Company?

The answer to this question is a resounding yes! CEOs CFOs / Controllers /Any Officer /Accounting Employees of a Company can be, and often are, held...


Jul 21, 2020, 06:37 ET From the Tax Law Offices of David W. Klasing - Can the IRS Take Your House in California?

The answer to this question is yes. The IRS can seize some of your property, including your house if you owe back taxes and are not complying with...


Jul 16, 2020, 06:37 ET From the Tax Law Offices of David W. Klasing - The IRS is Targeting the Illegal use of Micro-Captive Insurance Companies in 2020 for Civil and Criminal Tax Enforcement

One of the new tax-avoidance schemes that has begun to appear with more and more regularity in the last decade is the creation of micro-captive...


Jul 01, 2020, 06:37 ET From the Tax Law Offices of David W. Klasing - Do You Need to File for Voluntary Disclosure if You Failed to Disclose Money Made Abroad?

A surprising number of taxpayers make the mistake of thinking that there is no need to disclose foreign information and offshore income on their tax...


Jun 23, 2020, 06:37 ET From the Tax Law Offices of David W. Klasing - How to Prepare if You Think You Might Be Audited by the IRS

Sometimes, there will be warning signs that an audit is coming, which will give you a chance to prepare. Sometimes, a math error, miscalculation, or...


Jun 15, 2020, 06:33 ET From the Tax Law Offices of David W. Klasing - Is the IRS Renewing its Historical Focus on Criminal Tax Enforcement?

Criminal tax enforcement by the IRS has often been compared to a pendulum for the way it swings back and forth between periods of heightened...


Jun 01, 2020, 06:33 ET From the Tax Law Offices of David W. Klasing - What Factors Are Likely to Lead to a High Stakes IRS Audit?

You may be concerned about whether the IRS will or has discovered something serious during their audit that could lead to a high-stakes audit and...


May 27, 2020, 06:36 ET From the Tax Law Offices of David W. Klasing - Department of Justice Sees Significant Decrease in Tax Prosecutions, But Huge Spike Expected on the Horizon

As we move through the second full month of stay-at-home orders and social distancing guidelines required as a part of the response to the COVID-19...


May 07, 2020, 07:37 ET From the Tax Law Offices of David W. Klasing - How Does the IRS Legally Compel You to Provide Them Information About You?

A taxpayer that refuses to submit to an IRS tour of their business, an in-person interview or to provide records can be compelled to cooperate via...


Mar 26, 2020, 06:37 ET From the Tax Law Offices of David W. Klasing -Treasury Secretary Indicates That High-Earnings Individuals Are in IRS Audit / Criminal Tax Investigation Crosshairs

IRVINE, Calif., March 26, 2020 Treasury Secretary Steven Mnuchin indicated that the IRS would be ramping up enforcement efforts on high-earning...


Mar 25, 2020, 07:37 ET From the Tax Law Offices of David W. Klasing - We Are Now Offering Full-Service COVID-19 Business Survival Consulting

COVID-19 has turned the world upside-down. Shelter-in-place orders issued by state and local governments have required most businesses to close their ...