• IRS Targeting High-Income Earners

IRS Targeting High-Income Earners

The IRS is hitting the road, targeting high-income earners who haven’t filed federal income tax returns or paid taxes for 2018 or previous years. The agency estimates that billions are lost in tax dollars from these non-filers. The goal is to collect and the [...]

By |2020-12-04T15:38:50-05:00February 27th, 2020|
  • How will the IRS Ever Know? A photo of a question mark on a chalkboard

How Will the IRS Ever Know?

For years, new clients (and some of our current ones) have been asking why they should bother fixing their prior US tax filings to report previously unreported foreign income or foreign assets. The most common question is “How will the IRS ever know?” Years [...]

By |2020-03-19T15:20:37-04:00October 18th, 2019|

The IRS Announces Crackdown on International Organization Employees

On September 11, the IRS announced a new campaign to closely examine whether individuals working at international organizations (I/O) are fully and properly calculating their taxes. The announcement was a surprise and was made at the same time as the announcements for several [...]

By |2020-03-19T15:26:04-04:00October 1st, 2018|

The U.S. Taxation of an American Princess – Meghan Markle

On November 27, 2017, the engagement of Prince Harry and Meghan Markle was announced to the press.[1]  Prince Harry asked Markle to marry him in London, and the couple recently set the wedding date for May 19, 2018.[2] Ever since the engagement date was [...]

By |2020-03-19T15:40:34-04:00December 27th, 2017|

IRS Uses Summons to Identify Unreported Foreign Accounts

January 30, 2017 Synopsis Last week, a U.S. District Court authorized the IRS to summons a taxpayer with access to information about clients' undisclosed foreign financial assets. Given the IRS’ increasing efforts to discover hidden foreign accounts, The Wolf Group encourages U.S. taxpayers with foreign accounts to take [...]

By |2020-03-19T15:47:26-04:00January 30th, 2017|
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