Hopefully, by now, you’ve become aware of the Beneficial Ownership Information Form, commonly referred to as the BOI Form or BOI Report. The Financial Crimes Enforcement Network (FinCEN) finalized rules for this report late…
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/ Business Organizations, Criminal Law
What is willful blindness according to the IRS? How is this important in tax cases involving unreported or under-reported income, disclosure of offshore assets and income, FinCEN Form 114 (more commonly referred to as an…
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/ Criminal Law, Finance & Banking, Taxation
Are you above the age of 50? Do you and/or your spouse have a 401(k)? Are you interested in reducing the amount you will have to pay in 2025 income taxes while increasing the amount of money you receive after retirement? Those…
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/ Finance & Banking, Labor & Employment Law, Taxation
We are often asked how to prepare for an IRS audit. The first and most important thing to know is that speaking directly with the IRS is not in your best interest. IRS Revenue Officers (auditors) are skilled interrogators. They…
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/ Civil Procedure, Taxation
Is it too late to correct past FBARs and file amended returns with the IRS? The net is closing in on U.S. taxpayers with unreported or under-reported domestic and offshore income and assets. The IRS has increased audits in…
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/ Criminal Law, Finance & Banking, International Law & Trade, Taxation
It's human nature to take the "if it ain't broke, don't fix it" attitude, which extends to allowing areas of your business to evolve and develop without scrutiny. This is why tuning up your business is an essential part of…
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/ Business Organizations, Finance & Banking, Taxation
Integrative legal, tax, accounting, and business advisory services are more critical than ever as we address the challenging environment of continuous change. Seek change; wherever you find it, opportunity will exist…
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/ Business Organizations, International Law & Trade, Law Practice Products & Services, Taxation
Is a new wave of U.S. expatriate income tax refund applications on the table? The answer to this question hangs in the balance as we await an appeal on the question of whether or not specific Foreign Tax Credits can be applied…
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/ Civil Procedure, International Law & Trade, Taxation
Have you come across the surprising IRS tax bracket changes for 2025? Yesterday, the IRS released the 2025 income tax brackets for U.S. taxpayers. The inflation adjustments to tax brackets were a pandemic-boosted 7% for 2023…
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/ Business Organizations, Finance & Banking, Taxation
What is the action cryptocurrency investors need to take immediately? What has changed, and why should any digital asset holder or investor pay attention to this game-changing development?
Here is the short answer: If you…
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/ Administrative Law, Finance & Banking, Taxation
The IRS digital asset broker reporting requirements were finalized earlier this year and impact all digital asset (i.e., cryptocurrency and Non-Fungible Tokens or NFTs) transactions beginning January 1, 2025. What do investors…
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/ Administrative Law, Finance & Banking, Taxation
What are the IRS revisions to the Voluntary Disclosure Program for 2024? The foundation of the current IRS Voluntary Disclosure Program (VDP) goes as far back as 2009 when the agency worked to provide U.S. taxpayers with a way…
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/ Taxation
The IRS extension deadline is in one week, Tuesday, October 15, 2024. This is the last date for most U.S. taxpayers with extensions to file their 2023 federal income tax return without incurring late filing fees and other…
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/ Taxation
It is important to update your trust and estate plan regularly to protect your interests and meet the changing requirements of your future while integrating changes in law and best practices to provide for every potential…
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/ Finance & Banking, Taxation, Wills, Trusts, & Estate Planning
What is the statute of limitations for an IRS audit? What rules extend the window for an IRS audit?
How long does the IRS usually have to complete an audit of your taxes? Everyone may have a little fear in the back of their…
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/ Taxation
