Offshore tax havens create a “finance curse”
With tax shelters now under scrutiny as a result of the Foreign Account Tax Compliance Act (FATCA), much of the criticism of offshore accounts has been focused on recouping lost federal tax revenue. But according to a recent article in The Atlantic, offshore tax havens appear to be similarly damaging to the political and economic […]
Bill providing protection against IRS asset seizure advances
A bipartisan bill that would require the IRS to provide evidence of illegal activity before seizing assets has passed the U.S. House of Representatives Ways and Means Committee. Hundreds of taxpayers who have had assets seized between October 2009 and October 2014, when IRS seizure and forfeiture activity in the absence of criminal evidence ceased, […]
Keep your property off the IRS auction list
The IRS has its own kind of Craigslist. But instead of selling its own used items to strangers over the internet, the IRS auctions off property that has been seized to compensate for unpaid taxes. Need a new car, some antiques, some silver coins or a diamond necklace? Maybe you’ve been hoping to make a […]