A recent Tax Court decision in De Los Santos v. Commissioner illustrates the complexity of split-dollar life insurance arrangements. Taxpayers who participate in these or other types of life insurance arrangements should...more
Federal tax penalties have always been an IRS priority. But, perhaps more so today than three decades ago. For example, in 1987, the IRS reported that it had assessed penalties of approximately $14 billion. Compare that...more
2/4/2021
/ Failure To Pay ,
Failure-to-File ,
Filing Requirements ,
Income Taxes ,
Internal Revenue Code (IRC) ,
International Tax Issues ,
IRS ,
Tax Fraud ,
Tax Liability ,
Tax Penalties ,
Tax Planning ,
Tax Returns
Virtual currency, such as Bitcoin, continues to be a topic of interest for the IRS. Indeed, for the 2019 tax year, the IRS added for the first time a unique question to Schedule 1, Additional Income and Adjustments to...more
11/18/2020
/ Bitcoin ,
Criminal Prosecution ,
Cryptocurrency ,
Failure To Disclose ,
False Statements ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Tax Evasion ,
Tax Returns ,
Virtual Currency
Jason B. Freeman and Matthew L. Roberts of Freeman Law, PLLC discuss the recent Second Circuit decision in Trump v. Vance. The case involves the ongoing battle between President Trump and the Manhattan District Attorney's...more