Sri Lankan politician, media join those asking questions about U.S. renunciation data

A Sri Lankan presidential candidate whose name failed to appear on the U.S. government's quarterly list of individuals who have renounced their citizenship is inadvertently drawing attention to a question many Americans and former Americans have been asking for years – which is why it can take months for renunciants' names to appear on the list. 

  • News

IRS letter campaign puts cryptocurrency investors on notice

The U.S. Internal Revenue Service has begun sending "educational letters" to U.S. taxpayers who have been engaging in "virtual currency transactions" and whom it says either "potentially failed to report income and pay the resulting tax" they were seen to owe on certain of these virtual currency transactions, or failed to "report their transactions properly." 

  • Tax

IRS formally announces it 'will [no longer] challenge' foreign tax credits on two French social services 'contributions'

 The U.S. Internal Revenue Service said on Wednesday that it "will not challenge" the claiming of foreign tax credits against certain controversial payments that potentially thousands of American expatriates resident in France have been paying for years, and noted that taxpayers who wish to file a claim for refund of U.S. tax with respect to a foreign tax credit have 10 years after the "due date for filing the return" in question in which to do so.

  • Tax

American couple in France in major win against IRS over tax

In a development that is being seen by American expat groups in France as a major win, the U.S. Internal Revenue Service has admitted in a U.S. Tax Court that it had wrongly collected millions of dollars of tax from France-resident American citizens, ending a years-long legal saga that could see millions of dollars paid to U.S. expats who have lived in and been filing tax returns from France, in the form of refunds.

  • Tax

Congressman Holding spotlights IRS lack of data on U.S. expat numbers

In a House Ways & Means Committee hearing in Washington on Thursday, Republican Representative George Holding called on the IRS to find out exactly how many Americans are currently “living outside of the country, as well as how many are not filing or under-filing” their taxes each year.

Some tax quotations the IRS missed...

The IRS's collection of 15 tax quotations, wonderful as it is – as we noted yesterday – does miss a few classics that rank highly in our own collection.

There's Benjamin Franklin’s quote, for one thing, which is probably among the world's best-known tax quotations of all: “In this world nothing can be said to be certain, except death and taxes.” 

  • News

Revealed: IRS’s sense of humor

As the countdown  continues to Tax Day in the U.S., on Monday, we thought it would be a good time to call attention to a rather quirky collection of tax quotations that we stumbled on, buried deep inside the IRS’s website.

Yup. For all its unflinching greediness, which seems to radiate from its very website at this time of year, the U.S. Internal Revenue Service would seem, on at least some level, to be aware of certain ironies, hypocrisies and even undeniably funny things that are fundamental to the business of taxing people...

  • Tax

IRS seen ramping up penalties on late-filed foreign trusts, CFCs, FBARs in 2019

The U.S. Internal Revenue Service, which has seen its operating budget slashed over the past eight or nine years, appears to be looking to increase its use of penalties against those non-U.S. resident taxpayers who fail to file documents or pay the taxes they owe on time, U.S. Tax and Financial Services Ltd founder and chief executive Darlene Hart says.

  • Tax
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Opinion

Taxpayer Advocacy Panel's expat rep to expats: 'Let's work together'

Taxpayer Advocacy Panel's expat rep to expats: 'Let's work together'

Last week, National Taxpayer Advocate Nina Olson retired from the role she held for 19 years. During this time, the IRS, of which the National Taxpayer Advocate's office is a...

Aug-08-2019