Add the Letter ‘T’ to FATCA, and No One’s Getting Fat Except the IRS
In 2010 President Obama signed P.L. 111-147, the Hiring Incentives to Restore Employment Act. The purpose of the law is in its eponymous title, but the IRS got into the act with the Foreign Account Tax Compliance Act (FATCA) provisions. FATCA is an attempt by the IRS to “improve reporting compliance” — translation: “widen the net” […]
Even With a DUI Charge You Are Innocent Until Proven Guilty
If you believe the conventional wisdom, when you are stopped by the police and placed under arrest for driving under the influence, you have already been found guilty. You are not guilty, and the state has a heavier burden of proof than you might imagine. Take a look at the State of New Jersey Motor […]
IRS Due Process Collections — Placing a Velvet Glove on the Wrecking Ball
Due process is, according to Black’s Law Dictionary, “a course of legal proceedings … which have been established … for the enforcement and protection of private rights.” Anyone facing an IRS federal tax lien or levy has already experienced the preliminary due process following the IRS determination that more taxes are owed. Said due process […]
Manco and Manco Owners Arrested on Charges of Tax Evasion
The owners of Manco and Manco Pizza, an Ocean City Boardwalk mainstay, were arrested Thursday, April 3 on federal tax evasion charges. According to the US Attorney’s Office, Mary, 53, and Charles Bangle, 54, were arrested in their Somers Point home by IRS-Criminal Investigation special agents on an indictment charging the couple with multiple counts […]
Employment Taxes And The Self-Employed Global Worker – So “Un”Happy Together – Part I (4)
I. Domestic Administration of Social Security Taxation and the Scope of International Coordination – continued c. The Third Aspect: Taxation of Benefits Up to 85% of social security benefits received by United States citizens and residents are included in income and subject to taxation, depending on the level of benefits, tax filing status, and other […]
Employment Taxes And The Self-Employed Global Worker – So “Un”Happy Together – Part I (3)
I. Domestic Administration of Social Security Taxation and the Scope of International Coordination – continued b. The Second Aspect: Benefits Eligibility In general, any individual is eligible to receive United States social security benefits at the age of sixty-two if he is considered “fully insured” and has filed the necessary paperwork. An individual is generally […]
Employment Taxes And The Self-Employed Global Worker – So “Un”Happy Together – Part I (2)
I. Domestic Administration of Social Security Taxation and the Scope of International Coordination – continued a. The First Aspect: Contributions Social security contributions are imposed as a tax via the Internal Revenue Code (Code) and collected by the Department of Treasury through the Service. Two statutes apply. With respect to employers and their employees, the […]
Employment Taxes And The Self-Employed Global Worker – So “Un”Happy Together – Part I (1)
Domestic Administration of Social Security Taxation and the Scope of International Coordination – The United States social security program consists of benefits collected from taxes on employers, employees, and the self-employed, and distributions paid out to retired workers and their dependents and survivors. There are three aspects of the United States social security program. First, […]
Are You In It To Win It? Fighting The Post-Bankruptcy Survival Of Federal Tax Liens On Property That Is Excluded From The Bankruptcy Estate
The federal tax collection system is founded on the concept of voluntary compliance.[1] The United States government expects taxpayers to compute and timely pay all taxes owed. Most taxpayers fulfill this obligation. However, a minority refuse to comply. Those falling within the latter category are subject to forced collection and various penalties. This article seeks […]
IRS’s Treatment Of Elderly Cancer Researcher Sends Strong Message To Taxpayers That IRS Means Business When It Comes To Prosecuting Individuals For Tax Evasion
A prominent cancer researcher has learned a valuable and humbling lesson: Do not try to outsmart the IRS. Peter Urrea was sentenced to 18 months in federal prison for cheating on his taxes. While most tax cheats avoid criminal prosecution and instead pay high civil penalties, Peter Urrea is an exception. What did he do […]