The Internal Revenue Service conducts few on-site audits. As budget cuts affect resources, the IRS must prioritize its efforts. One area of focus is and has been the Earned Income Tax Credit (EITC).
We have discussed changes to the U.S. Internal Revenue Service limited-amnesty program for hidden offshore accounts over the last month.
The recent changes to the limited-amnesty program discussed on this blog contained good and bad news. Our previous post explained how penalties are going to increase for some taxpayers in the Offshore Voluntary Disclosure Program.
In a recent advisory, the Internal Revenue Service announced changes to its Offshore Voluntary Disclosure Initiative. For those who hold accounts at 10 international banks currently under investigation, the message was: come forward before August 4 or face much greater penalties.
When a soccer goalie faces a penalty kick, angst is inevitable.
The 2014 World Cup will be getting underway soon in Brazil. As always in a soccer-mad world, the festivities will surely galvanize the attention of tens of millions of soccer fans around the world.
The phrase “global warming” is an oversimplified misnomer. Most experts agree that what we are really experiencing is the much broader phenomenon of climate change. That change means not only generally warmer weather; it means more extremes, such as drought, torrential rain, and unpredictable swings in temperature.