Like any other organization, the IRS has judgment calls to make about its priorities.Of course, in the best of all possible worlds the agency would have plenty of resources to assist taxpayers with compliance questions, as well as do an appropriate amount of auditing...
Month: March 2014
From Orpheus to the IRS: how far can the taxman look back?
In the Greek myth of Orpheus and Eurydice, the musician Orpheus descends into the realm of the dead, trying to save Eurydice from a lethal snakebite.He reclaims Eurydice and is on the verge of exiting the underworld - but then glances back for a glimpse of her...
Offshore disclosure requirements and honest mistakes
There is a big difference between intentional tax evasion and honest mistakes.That is why, historically, there has been a clear distinction between tax fraud and other criminal tax violations, on the one hand, and civil tax controversies on the other.Unfortunately,...
Tax audits: be wary, but also aware there is more than one type
The phrase "tax audit" generally carries the same type of connotation as "root canal." Almost by definition, it's not very pleasant - or at least that is the popular perception.In practice, however, there is often a misconception about what a tax audit entails. Root...