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IRVINE, Calif., April 20, 2021 /PRNewswire/ The IRS has developed computerized statistical protocols to identify when a return with potentially incorrect information has been filed. Reporting irregularities are found by comparing information supplied by third parties including financial institutions, individuals, and businesses. When a taxpayer s return is flagged by the IRS, they will then determine whether they should investigate the matter, which is the purpose of a tax audit. You may receive notice that an IRS agent wants to further examine the records in question. For example, evidence of unreported revenue would immediately garner the attention of an IRS examiner.
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IRVINE, Calif., March 16, 2021 /PRNewswire/ According to a Department of Justice press release, a tax professional from North Carolina that recently plead guilty to engaging in tax crimes was sentenced to serve more than four years in federal prison. This story should remind taxpayers that the potential consequences of engaging in criminal tax activity is severe and the fire started with a dirty preparer investigation & prosecution will burn straight to you. If you have failed to file a tax return for one or more years or have taken a position on a filed tax return that could not be supported upon demand from the IRS in an audit, egg shell audit or reverse egg shell audit, you should strongly consider seeking the guidance of an experienced criminal tax defense attorney on a strategy to come into tax compliance.
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IRVINE, Calif., March 9, 2021 /PRNewswire/ Some taxpayers are still figuring out their reporting obligations when it comes to foreign bank account reporting (FBAR) and taxable offshore income, which is the reason that the Internal Revenue Service distinguishes between willful and non-willful violations. However, a recent case has indicated that the IRS is ready to pursue criminal prosecution against those who feign that their FBAR violations were non-willful when in fact their behavior was willful. The dually licensed California Tax Attorneys and CPAs from the Tax Law Offices of David W. Klasing have extensive experience in assisting our clients in navigating through possible FBAR filing mistakes that could lead to criminal prosecution and the differing programs that can be used to safely come back into compliance. We want to inform you about how the IRS is criminally prosecuting taxpayers that demonstrate criminal tax and foreign informatio
/PRNewswire/ An eggshell audit is a type of civil audit that is performed because a taxpayer s returns indicated that they understated their income, by.
Corrupt government officials laundering money from state or federal funds
The information gathered will be disclosed to law enforcement agencies, financial institutions, and other entities that have mandatory anti-money laundering obligations.
The owner of a corporation or LLC will have to provide the following information to comply with the CTA:
The name of the beneficial owner of the company
The address of the beneficial owner
The date of birth of the owner
The driver s license or ID number of the owner
Additionally, if there is a change in ownership of the corporation, this information must also be reported.
A penalty can be imposed for failing to adhere to the CTA of up to $500 for every day that the corporation is not compliant with the law. If the owner of the corporation is brought up on criminal charges, they may be fined $10,000 and could face up to two years in prison. If the gathered information is disclosed without authorization, the violators could be assesse