Audit Enforcement and Audit Plan Strategies

Posted on by Moskowitz LLP Posted in Business Law, Tax Planning & Compliance
Audit Plan Strategies The Treasury Inspector General for Tax Administration (TIGTA) is responsible for monitoring and directing the IRS's activities.   Recently, the TIGTA estimated that taxpayers will owe $345 billion more than what they actually claim they owe on their income tax returns this year.  Because they are expecting this...
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White Collar Crime, Structuring

Posted on by Moskowitz LLP Posted in Business Law, Criminal Tax Law, Tax Planning & Compliance
Federal law requires business and financial institutions to report currency transactions in excess of $10,000 in a single or “related” transaction within a twelve-month period. Businesses must file an IRS form 8300 and financial institutions must file a currency transaction report. Even though making a deposit or withdrawal greater than...
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INTERNAL REVENUE CODE SECTION 7623: THE WHISTLEBLOWER STATUTE

Posted on by Moskowitz LLP Posted in Criminal Tax Law, Business Law
Under the Internal Revenue Code, individuals acting as “whistleblowers” by reporting underpayment of taxes or violation of tax laws by another taxpayer may be awarded money from the amount collected by the government.  To be eligible for a section 7623 award, the disputed amount must exceed two million dollars, and...
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