Tax Penalties

News & Analysis as of

New Jersey Division of Taxation’s 2014 Tax Resolution Initiative – Not To Be Confused With An Amnesty

The New Jersey Division of Taxation (Division) is trying to help taxpayers resolve unpaid tax liabilities for tax periods 2005 through 2013. Through November 17, 2014, the Division is offering taxpayers that pay all tax and...more

IRS Announces Changes to the Offshore Voluntary Disclosure Program

As you may have read, the Internal Revenue Service (“IRS”) recently announced changes to its offshore voluntary disclosure programs and announced new options for taxpayers to come into compliance with their U.S. tax...more

Former Head of DOJ Tax Division Warns Taxpayers to Think Twice Before Choosing New Streamlined Procedures

Former DOJ Tax Division AAG Kathy Keneally warned on June 24, 2014, that taxpayers should think carefully before signing a certification of non-willfulness and entering the IRS’s new Streamlined Filing Compliance Procedures....more

Tax Litigation Update: Eleventh Circuit Holds Clear and Convincing Evidence Standard Applies to Penalties Imposed under IRC § 6701

The Eleventh Circuit Court of Appeals, which hears appeals from the federal district courts in Florida, Georgia, and Alabama, ruled earlier this month that in order to impose penalties under IRC § 6701, the government bears...more

Will the Zwerner FBAR Fine Pass Constitutional Muster?

Last week, a federal jury in Miami found that Carl Zwerner had willfully failed to disclose his foreign bank account to the Treasury Department for calendar years 2004, 2005 and 2006. Zwerner now potentially owes the United...more

Lingering Questions About the San Francisco Gross Receipts Tax

The first installment payment for the new San Francisco Gross Receipts Tax was due April 30, 2014. Many questions about the new tax remain. While the City has provided some relief from installment underpayment penalties,...more

Mississippi Legislature Overwhelmingly Approves Equifax Fix

Earlier this week the Mississippi Legislature approved the conference committee report on tax reform legislation (House Bill 799) that significantly changes Mississippi’s tax assessment and appeals procedures. Both the House...more

Gentleman’s Club Owner Hit With Fraud Penalty

A new Tax Court decision just came out – Potter v. Commissioner, TC Memo 2014-18. The case involved a “gentleman’s club” owner in Michigan. In December 2006 IRS special agents engaged in an undercover investigation of...more

Raminfard Guilty Plea Highlights Complexity Of International Tax Compliance, Seriousness Of Violations, Importance Of IRS Offshore...

Los Angeles Businessman, David Raminfard, pleaded guilty on November 4th, 2013 in the Federal District Court in Los Angeles to conspiring to defraud the United States, the Justice Department and Internal Revenue...more

White House Extends Open Enrollment Deadline for Avoiding a Tax Penalty

According to the Washington Post, the Obama Administration confirmed on October 23, 2013, that an individual who purchases health insurance during the open enrollment period through March 31, 2014, will not be required to pay...more

Large Employer Reporting Requirements and Penalties Mandated by Affordable Care Act Delayed One Year

The Treasury Department announced on Tuesday, July 2, 2013, that reporting requirements and penalties imposed on large employers under the Affordable Care Act (ACA) would be delayed one year, until January 1, 2015. ...more

Employer Coverage Mandate Delayed Until 2015

While most of us were enjoying the 4th of July holiday, the Obama administration was busy announcing the delay of a key component of the Affordable Care Act (“ACA”). Following complaints about reporting requirements, the...more

Stay Tuned! Employer Mandate Reporting Requirements and Enforcement Delayed; Silence on the Individual Mandate and Exchanges

On July 2, 2013, the U.S. Department of the Treasury announced in its Treasury Notes blog that the Employer Mandate tax payment provisions and reporting requirements under the Affordable Care Act (ACA) are being delayed from...more

Employers Given One-Year Extension on ACA Health Coverage

The Obama administration has announced that it will provide an additional year - until 2015 - before the Affordable Care Act (ACA) mandatory employer and insurer reporting requirements begin. ...more

Obama Administration Delays ACA's Employer-Coverage Mandate Until 2015

The Obama Administration announced on Tuesday that it is delaying implementing a key component of the Affordable Care Act for a year following complaints from the private sector about reporting requirements. The so-called...more

eBenefits Alert - Don't Stop Thinking About Tomorrow - Even Though Employer Pay or Play Requirements Are Delayed Until 2015

Tuesday, July 2, 2013, the Obama Administration announced that it will delay the mandatory insurer and employer reporting requirements under the Affordable Care Act (ACA) until 2015. This transitional relief will make it...more

ACA Employer Reporting Requirements and Shared Responsibility Penalties Postponed Amidst Implementation Concerns

The Assistant Secretary for Tax Policy at the Department of Treasury (Treasury) released an announcement July 2nd indicating that the Obama Administration has decided to postpone the reporting requirements for employers in...more

Obama Administration to Delay Employer Reporting Requirements and ‘Shared Responsibility’ Payments until 2015

On July 2, 2013, the Obama Administration (“Administration”) announced that it will delay the mandatory reporting requirements for employers and health insurers under the Patient Protection and Affordable Care Act (“ACA”)...more

Key Affordable Care Act Deadline for Employers Extended by One Year

Yesterday, the Obama administration announced that it will allow employers until 2015 before they must either provide health care coverage to employees or pay penalties under the Affordable Care Act (ACA)....more

Obama Administration Delays ACA Employer Reporting and Penalties for 2014

In a July 2, 2013, blog posting on the U.S. Department of the Treasury website titled "Continuing to Implement the ACA in a Careful, Thoughtful Manner," the Obama administration announced that it will provide an additional...more

Obama Administration Announces a One-Year Delay in the Enforcement of the Affordable Care Act's Employer Shared Responsibility...

In a surprise announcement posted Tuesday to the White’s House website, the Obama Administration announced a one-year delay (to January 1, 2105) in the enforcement of the employer shared responsibility rules enacted into law...more

Play or Pay Rules—Compliance Delayed Until 2015

On July 2, 2013, the Obama administration announced through the U.S. Department of the Treasury that the penalties for employers under the “Play or Pay Rules” will not go into effect until 2015....more

Key Obamacare Provisions Delayed Until 2015

Yesterday, the Obama administration announced that it is delaying enforcement of certain parts of the Affordable Care Act (“ACA”) that were scheduled to take effect January 1, 2014. The enforcement date has been delayed until...more

The White House Blog: Employer Mandate Under The Affordable Care Act Delayed For One Year

On July 2 the White House announced that it is delaying the enforcement of the employer mandate that it provide health care coverage to employees or pay a penalty (the “play or pay” provisions) until 2015....more

Obama Administration Delays ACA Employer Mandate Until 2015

In a major development in the implementation of the Affordable Care Act (ACA), the Obama administration announced on Tuesday that it will delay implementation of the “employer mandate” feature of the law....more

66 Results
|
View per page
Page: of 3