tax law

January 26, 2020

Swiss Bank Enters Into Amended Non-Prosecution Agreement With DOJ, Pays Additional $14 Million Fine

According to a Department of Justice press release, Union Bancaire Privée, UBP SA (UBP), a Geneva, Switzerland-based bank recently entered into an amended non-prosecution agreement with […]
January 8, 2020

3 More Reasons the IRS Might Choose You or Your Business for a Tax Audit

At the Tax Law Office of David W. Klasing, we frequently write about tax audits – and with good reason. Even with its operating budget at […]
December 18, 2019

Missouri CPA Convicted in $7M Wire Fraud, Money Laundering Scheme

In a press release issued last month, the U.S. Department of Justice (DOJ) announced the conviction by federal jury of 46-year-old defendant Douglas A. Richardson, who […]
December 14, 2019

After FATCA Grace Period Ends, IRS to Freeze Foreign Bank Accounts Starting in 2020

Do you have a foreign bank account located anywhere outside the United States? If so, make sure you report the account to the IRS right away […]
December 13, 2019

How Does the IRS Choose Who to Audit?

According to its own enforcement data, the Internal Revenue Service (IRS) “examined” (audited) approximately 1 million federal tax returns in 2018. That figure, though representing only […]
December 11, 2019

New IRS Report Reveals 2019 Tax Crime Investigation Statistics

Despite facing a series of budget cuts, the Internal Revenue Service remains a massive agency, employing tens of thousands of workers nationwide. To keep itself organized, […]