tax attorney

October 3, 2019

What Are the U.S. Tax Implications of Receiving Gifts from Foreign Citizens?

When one individual gives property to another without receiving payment in return, the property is generally considered to be a “gift” for tax purposes. Depending on […]
October 1, 2019

Buying a Business in California? Beware of Inheriting Seller’s Unpaid Sales Tax Debts or Incurring Successor Liability

A business can be a valuable asset to acquire – but be careful. If the entity owes unpaid sales taxes to the California Department of Tax […]
September 29, 2019

How Have IRS Budget Cuts Affected Federal Tax Enforcement?

The Internal Revenue Service has been hamstrung by a series of budget cuts in recent years, with its workforce shrinking by more than 15% from 2013 […]
September 26, 2019

IRS Sues California Taxpayer for $119M in FBAR Lawsuit Over Unreported Foreign Accounts

The United States District Court for the Northern District of California recently ruled in favor of the Internal Revenue Service, which sued defendant Francis Burga for […]
September 19, 2019

Did You Receive a Letter from the IRS About Filing Back Taxes or Amended Returns to Include Cryptocurrency Transactions?

Regular readers of our tax law blog know that our Bitcoin tax attorneys frequently write about tax issues surrounding virtual currencies. Most recently, we warned taxpayers […]
September 18, 2019

Wisconsin Business Owner Sentenced for Tax Evasion After Underreporting Income to IRS

Like other sources of taxable U.S. income, business income must be reported to the IRS. For example, partnership income is reported on Form 1065 (U.S. Return […]