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Tax Resolution
Obama Plan on Tax Havens Faces Resistance in Congress
Adopted from a Ryan J. Donmoyer article dated May 5 in (Bloomberg): President Barack Obama’s plan to end tax breaks for U.S.-based multinational companies drew a skeptical response from fellow Democrats on Capitol Hill, indicating that his proposal may face obstacles in Congress. Senate Finance Committee Chairman Max Baucus, a Montana Democrat, called for “further study” of Obama’s proposals... »
US Still Really Wants Those UBS Tax Evader Names
From London, July 13, 2009, BadIdea Blog With its inept former board, massive losses, and harbouring of tax evaders, UBS is the uncoolest thing about Switzerland after Nazi gold and Lewis Hamilton. The U.S. powers-that-be have decided that UBS’s tax evasion antics must be stopped, and they were set to finally start court proceedings today to... »
Innocent Spouse Relief
Did you know that you can get out of the tax debt due to the misdeeds, separation from, or fraud committed by your spouse or former spouse? Three types of Innocent Spouse Relief was designed to alleviate unjust situations where one spouse was clearly the victim of fraud perpetrated by their spouse or ex-spouse.... »
Trust Fund Recovery Penalty Cases
How the Government Bypasses the Corporation to Get to Your Money Certain types of taxes that a corporation or LLC owes may be transferable to the owners, officers, or even the employees of a corporation. Knowing how to fight this can save you and your family from becoming targets of the government. Our tax analysis will... »
My thoughts on the future of the federal estate tax
In 2001, President Bush and a Republican-controlled Congress enacted a law that greatly reduced and will eventually eliminated the federal estate tax. The catch is, the law sunsets after ten years, meaning that in 2011, the laws governing the federal estate tax will be as those laws existed in 2001. Since passing the 2001 law,... »
On-line Conference
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UBS pushes IRS back on Joe Doe Subpoena
Quoted from Alibaba.com: UBS AG asked a U.S. court on Thursday not to proceed with a high-profile tax evasion case brought against it by the U.S. Internal Revenue Service, saying the case would violate Switzerland’s strict bank secrecy laws. … U.S. tax authorities are pursuing a civil lawsuit against UBS seeking to access the data of... »
Many voices, including Obama’s, are calling for a fairer tax system but others want to keep the loopholes for the bigger corporations.
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IRS to go after more banks harboring offshore tax cheats
Taken from Reuters USA on 4-28-09: “We are developing John Doe summonses on other banks,” Daniel Reeves, an agent with the IRS’ Offshore Compliance division, told Reuters on the sidelines of a conference in Miami on offshore finance. He was referring to the kind of subpoena filed by the IRS against UBS seeking to force the... »
IRS Speeds Lien Relief for Homeowners Trying to Refinance, Sell
The IRS announced that it is putting a rush on processing Tax Liens on homes where the owner needs to refinance the mortgage or the sale the home due to the recent economic climate here in the U.S. In order to aid short sales or loan modifications, Taxpayers or the lenders may request that the... »