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COVID-19 affects adolescent and young adults sexual and reproductive health

Social distancing and limited access to contraceptive and abortion care during the COVID-19 pandemic is affecting the sexual and reproductive health of adolescents and young adults according to a new study by researchers at Columbia University Mailman School of Public Health and Rutgers University. The researchers address how these challenges, as well as peer and […]

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Swiss Financial Institution Clients May Have Claims for Hidden Fees (6/12/20)

I picked up this article, reporting that investors may have some relief for Swiss financial institutions receipt of hidden undisclosed fees related to their investment of client funds.  Leon Harris, How to turn the tables on the Swiss banks – opinion (Jerusalem Post 6/11/20), here.  According to the article, bribery and kickbacks are normally illegal, […]

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[VIDEO] How Your Stimulus Money Impacts Your Tax Return

Andrew Oswalt, senior tax analyst at TaxAct, explains why your stimulus money will not impact your 2020 tax outcome when you file next year. Click to watch! [embedded content] Have more questions? Visit our Everything You Need to Know About the Stimulus Payments blog post for additional details regarding your stimulus payment. Source

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Stimulus Payments for the Deceased: Should I Keep It?

Q: I received a stimulus payment on behalf of my deceased relative. Should I cash it? A: According to the IRS FAQ page on its website, families who receive a stimulus payment on behalf of a deceased loved one should send the money back to the government. The FAQ specifically states: A Payment made to […]
The post Stimulus Payments for the Deceased: Should I Keep It? appeared first on TaxAct Blog….

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Extradited E&Y Tax Shelter Enabler Sentenced (6/9/20/ 6/10/20)

I have often posted on the Government’s criminal prosecution of persons promoting abusive tax shelters.  There were a number of prosecutions starting around 2005 as the Government focused on major accounting firms, law firms and financial firms and the persons involved with them.  One set of the prosecutions related to principals at Ernst & Young, the accounting […]

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District Court Denies Gov’t Summary Judgment in FBAR Collection Suit (6/4/20)

In United States v. de Forrest (D. Nev. Dkt. # 2:17-cv-03048 Dkt entry 52, Order dated 5/31/20), here (with docket entries here), the court denied the Government’s motion for summary judgment in an FBAR willful penalty collection suit.  I don’t think the Order offers anything material to the discussion of FBAR willful penalty matters, except […]

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IRS Solicitation for Outside Expertise in CryptoCurrency Audits (5/31/20)

There are reports that the IRS has sent out a “Statement of Work” soliciting assisting from contractors to help with audits involving potential cryptocurrency transactions.  See Guinevere Morre, Got Cryptocurrency? Get Ready For An IRS Audi (Forbest Editors’ Pick 5/29/20), here; and IRS Soliciting Contractors to Help Audit Crypto Tax Returns (CryptoTrader.tax blog), here(with a […]

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Revised IRS Form 14457 for Voluntary Disclosure Preclearance (5/29/20; 7/17/20)

In April 2020, the IRS revised its preclearance form for voluntary disclosure – Form 14457, Voluntary Disclosure Practice Preclearance Request and Application, here.  I have not compared the new form with the old, so cannot point out the differences.  I do note that the instructions (beginning on p. 6 of the 14 page form) has […]

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District Court Rejects Defendant’s Creative Claim that Alleged Overpayments of Other Taxes Precludes Criminal Liability (5/28/20)

In United States v. Hamdan (E.D. La. Dkt. 19-60 Order Dated 5/22/20), here, the Court denied the defendants’ motion to dismiss most of the counts in their 74-count Superseding Indictment charging (i) the conspiracy by “evading paying federal income and employment taxes” (not clear whether an offense conspiracy or defraud/Klein conspiracy charge or both, but […]

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Confusion as to Sentencing Guidelines Tax Loss and Civil Tax Loss Requires Remand and Resentencing (5/21/20)

In United States v. Brannum (9th Cir. Unpublished 5/12/20), here, the Ninth Circuit reversed and remanded a case because of the prosecutor’s violation of the plea agreement as to the amount of the tax loss.  Readers will recall that, in the Sentencing Guidelines’ calculation of the offense level and sentencing range, the principal component in […]