An Underfunded IRS Benefits the Non-Compliant
This article, authored by Robert E. McKenzie, was originally published in CPA Magazine.
Listen: Foreign Account Tax Reporting Act (FATCA)
Tax season is upon us, and Arnstein & Lehr’s Chicago partner Robert McKenzie helps shed some light on new rules for offshore foreign account filing. The Foreign Account Tax Compliance Act’s (FATCA) was passed in 2010 after Congress discovered the…
Listen: Immigrants Caught up in the New FATCA Law
Not everyone is intentionally doing something wrong when it comes to filing taxes. In some cases, it is simply a lack of understanding of U.S. rules and regulations. If an immigrant has been in the U.S. for 180 days, they…
Listen: Avoiding Penalties Through Voluntary Disclosure
The IRS has several programs in place, including the Offshore Voluntary Disclosure Program. Even those who intentionally hid their money overseas are allowed to confess to the IRS and correct their taxes for eight years.
National Taxpayer Advocate Reports Folly in Cutting IRS Budget
This article was originally published in Forbes.
2014 IRS Representation Update
By: Robert E. McKenzie 1. A CHANGING IRS IRS Workforce 1.10 Because of Congressional cuts in IRS budgets its workforce continued to shrink until 2008. In 2009 and 2010 the IRS had its budgets grow and its workforce grew. In…
7 Million Taxpayers Fail To File Their Income Taxes
This article by Robert E. McKenzie was originally published in Forbes.
Robert E. McKenzie’s Expert Testimony Results in Closure of American Tax Resolution
The Washington Post is reporting on the results of Robert E. McKenzie's expert testimony in the closure of American Tax Resolution. "Congratulations to the Federal Trade Commission for its latest action that resulted in the closing of a company that…
IRS Offer In Compromises Made Easier
This article by Robert E. McKenzie was was originally published in Forbes.
U.S. Taxpayers With Secret Offshore Money Face New Risks And Options
Taxpayers with offshore bank accounts might be in trouble. The Foreign Account Tax Compliance Act (FATCA) went into effect on July 1 requires that foreign banks report to the IRS about the accounts of U.S. taxpayers. As a result, more…