Tax Controversy

People who keep some of their money in foreign banks or investments had better make sure they are reporting that income to the proper tax authorities. The IRS has begun exchanging taxpayer information with their colleagues in as many as 34 other countries, The Wall Street Journal reports. Beginning on Sept. 30, a new IRS programcontinue reading…

There are all different sorts of deadlines we face in our lives. For some of these deadlines, there can be very major consequences if we end up missing them. Federal tax deadlines fall into this category.  If a person fails to file a federal tax return or form they are supposed to submit by thecontinue reading…

If you have a professional practice, such as medicine, law or finance, you may have considerable income. This level of income will generate significant taxes, both from the Internal Revenue Service (IRS) and from the Minnesota Department of Revenue. Tax planning and advice from a knowledgeable accountant or tax attorney would be helpful to reducecontinue reading…

There it is, prominently and unambiguously stated in Article I, Section 8 of the United States Constitution: The Congress shall have Power To lay and collect Taxes. As anyone who has even basic familiarity with the Constitution knows, the nation’s preeminent legal document is divided along lines that separate power and its prerogatives, dividing thecontinue reading…

The Internet has created the possibility for nearly anyone to become an online seller of wares. And it should come as no surprise that tax collectors at state and federal levels have an interest in tracking and recovering all the tax revenue such sales may be generating. The problem is that while tax law hascontinue reading…