Tax noncompliance

From the Tax Law Offices of David W. Klasing - What Does it Actually Mean When Biden Says He is "Closing the Tax Gap?"

Retrieved on: 
Tuesday, July 20, 2021
Tax, Taxation in the United States, Tax avoidance, Internal Revenue Service, Tax investigation, Tax noncompliance

"You might be wondering what this actually means.What is the tax gap and why is it so important to eliminate it?

Key Points: 
  • "You might be wondering what this actually means.What is the tax gap and why is it so important to eliminate it?
  • If you are concerned about a potential hike in IRS civil and criminal tax investigative measures to combat the growing tax gap, you should secure our help.
  • What Does an Increase in IRS Funding to Close the Tax Gap Mean for You?
  • View original content to download multimedia: https://www.prnewswire.com/news-releases/from-the-tax-law-offices-of-dav...
    SOURCE Tax Law Offices of David W. Klasing, PC

York County, PA Moves to Online Sheriff Sales with National Software Provider Realauction.com

Retrieved on: 
Tuesday, June 29, 2021
Real property law, Government, Real estate, Geography of Florida, State taxation in the United States, Tax noncompliance, Tax sale, Foreclosure, Auction, Fort Lauderdale, Florida, Sheriffs in the United States

"We are excited to move to this online portal for our Sheriff Sales & are confident it will greatly improve the overall efficiency of our sales now and in the future.

Key Points: 
  • "We are excited to move to this online portal for our Sheriff Sales & are confident it will greatly improve the overall efficiency of our sales now and in the future.
  • "Realauction.com was chosen due to their proven track record and user friendly software plus there's no cost to the County whatsoever."
  • Realauction.com is an online auction software provider headquartered in Fort Lauderdale, FL.
  • The company has been hosting online Sheriff's Sales, Tax Sales, Foreclosure Sales and Tax Lien Sales since 2005.

Equinix Announces Tax Treatment of 2020 Distributions

Retrieved on: 
Friday, January 29, 2021
Tax, Tax forms, Income tax in the United States, Income tax, Tax return, Taxation in the United States, Alternative minimum tax, Tax noncompliance

Equinix's federal income tax return for the year ended December 31, 2020, has not yet been filed.

Key Points: 
  • Equinix's federal income tax return for the year ended December 31, 2020, has not yet been filed.
  • Please note that federal tax laws affect taxpayers differently, and we cannot advise you on how distributions should be reported on your federal income tax return.
  • Stockholders are encouraged to consult with their tax advisors as to the specific tax treatment of these distributions.
  • Please consult your tax advisor regarding Box 5 and how you should report the amount in your tax filing.

Erie County, PA annual Judicial Real Estate Tax Auction Sale moves to online auction platform GovDeals.com

Retrieved on: 
Thursday, January 21, 2021
Real property law, State taxation in the United States, Government, Tax noncompliance, Tax sale, Real estate, Tax, Land law, American Tax Funding

ERIE COUNTY, Pa., Jan. 21, 2021 (GLOBE NEWSWIRE) -- The Erie County, PA annual Judicial Real Estate Tax Sale, featuring properties that werent sold in the last Upset Tax Sale, will be held virtually on GovDeals.com , an online government surplus marketplace.

Key Points: 
  • ERIE COUNTY, Pa., Jan. 21, 2021 (GLOBE NEWSWIRE) -- The Erie County, PA annual Judicial Real Estate Tax Sale, featuring properties that werent sold in the last Upset Tax Sale, will be held virtually on GovDeals.com , an online government surplus marketplace.
  • The properties being sold during this Judicial Sale are properties that have accumulated delinquent property taxes, were offered for sale during the last Upset Tax Sale, and not sold during that time.
  • Unlike an Upset Tax Sale, these properties will be sold free and clear of all eligible claims, liens, mortgages, tax claims and charges accumulated through March 2020 to the new owners.
  • This online sale is a first for the county as previous county tax sales were held in person.

From the Tax Law Offices of David W. Klasing - IRS Currently Planning Enforcement Action to Address a Projected 441 Billion Dollar Non-Compliance Driven Tax Gap

Retrieved on: 
Tuesday, November 3, 2020
Tax, Taxation in the United States, Tax noncompliance, Internal Revenue Service, Whistleblower Office

The IRS will occasionally release a report on the tax gap, the most recent of which was released in 2019 and covered calendar tax years 201113.

Key Points: 
  • The IRS will occasionally release a report on the tax gap, the most recent of which was released in 2019 and covered calendar tax years 201113.
  • For those years, the average annual gross tax gap was reported to be $441 billion at the time that taxes were due, which amounts to slightly over 16 percent of the projected total tax liability.
  • The IRS eventually recovered $60 billion through voluntary late payments and enforcement activities.
  • A voluntary disclosure can remove the risk of criminal tax prosecution even if your actions were clearly willful .

From the Tax Law Offices of David W. Klasing - IRS Targeting the Wealthy for Audits and Criminal Tax Investigations

Retrieved on: 
Thursday, October 15, 2020
Taxation in the United States, Tax, Revenue services, Tax evasion, Internal Revenue Service, Income tax in the United States, Tax resistance in the United States, Tax evasion in the United States, Tax noncompliance

IRVINE, Calif., Oct. 15, 2020 /PRNewswire/ --In recent years, the IRS has come under fire from some prominent critics in Congress about the fact that the agency seems to have disproportionately been targeting low-income taxpayers for audits and criminal tax investigations while letting wealthier Americans get away with tax crimes that cost the agency exponentially much more money.

Key Points: 
  • IRVINE, Calif., Oct. 15, 2020 /PRNewswire/ --In recent years, the IRS has come under fire from some prominent critics in Congress about the fact that the agency seems to have disproportionately been targeting low-income taxpayers for audits and criminal tax investigations while letting wealthier Americans get away with tax crimes that cost the agency exponentially much more money.
  • As a result, the IRS has doubled down in the last few years in its efforts to crack down on tax fraud by the wealthiest Americans, announcing a program aimed at auditing those in the highest income brackets and doubling down on its commitment to the "Wealth Squad" unit .
  • If high net worth taxpayers do not voluntarily come forward and enter a domestic and or offshore voluntary disclosure program to correct their noncompliance before the IRS begins auditing or criminally investigating their issues, they will at best, face draconian civil penalties and, at worst, face criminal tax prosecution.
  • If you are a wealthy individual who has filed false, incomplete, or omitted FBARS & foreign information returns and simultaneously understated domestic or offshore taxable income in the past, you should get in contact with an experienced dual licensed International Tax Attorney and CPA like those at the Tax Law Offices of David W. Klasing as soon as possible to minimize civil penalties and avoid criminal tax prosecution.

From the Tax Law Offices of David W. Klasing - What Percentage of Federal Tax Offenders Were Sentenced to Prison in 2019?

Retrieved on: 
Wednesday, October 14, 2020
Taxation in the United States, Articles, Tax, Fraud, Crime, Economy, Tax noncompliance, Irwin Schiff

Certain jurisdictions report higher numbers of tax crimes than others, with two of the top five located here in California.

Key Points: 
  • Certain jurisdictions report higher numbers of tax crimes than others, with two of the top five located here in California.
  • Judicial districts with the highest number of tax offenders were:
    How is the U.S. economy impacted by these crimes?
  • The average prison sentence for tax fraud was 16 months, or one year and four months.
  • An experienced tax defense attorney is an indispensable resource in coming into tax compliance without facing criminal tax prosecution and simultaneously minimizing any applicable civil penalties.

Enforcement Notification - Tax Evasion - Robert Kalfayan fined nearly half a million dollars for tax evasion

Retrieved on: 
Wednesday, July 8, 2020
Taxation in the United States, Informal economy, Economy, Tax evasion, Tax evasion in the United States, Tax resistance in the United States, Tax, Tax noncompliance

He was fined $495,614 in relation to the offences, on top of having to pay the income tax and all penalties and interests that apply.

Key Points: 
  • He was fined $495,614 in relation to the offences, on top of having to pay the income tax and all penalties and interests that apply.
  • The CRA has strengthened its ability to criminally investigate those who commit tax crimes, particularly those related to offshore tax evasion.
  • From April 1, 2014, to March 31, 2020, the courts convicted 263 taxpayers for tax evasion of $118,724,181 in federal tax.
  • The CRA has set up a free subscription service to help Canadians stay current on the CRA's enforcement efforts.

Sovos "2020 State of Sales and Use Tax Report" Shows Governments Outpacing Businesses in Implementing Technology, Driving Change

Retrieved on: 
Wednesday, June 24, 2020
Tax avoidance, Tax noncompliance, Tax, Sales taxes, Tax codes

Governments at every level have expanded technology investments to digitize the sales tax collection process and close tax gaps.

Key Points: 
  • Governments at every level have expanded technology investments to digitize the sales tax collection process and close tax gaps.
  • "Gone are the days when businesses could manage sales tax on their own schedule.
  • The digitization of sales tax is forcing organizations to reexamine how they manage and execute sales tax strategies to ensure compliance.
  • The Sovos Intelligent Compliance Cloud is the first complete solution for modern tax, giving businesses a global solution for tax determination, continuous transaction controls, and tax reporting.

Pappas: Taxpayers now have more time to pay delinquent Cook County property taxes

Retrieved on: 
Wednesday, June 10, 2020
State taxation in the United States, Real property law, Tax noncompliance, Tax sale, Tax, Property tax, Taxation in the United States, Withholding tax, Back taxes

"This additional time can make the difference between keeping your home and seeing it taken away," Pappas said today.

Key Points: 
  • "This additional time can make the difference between keeping your home and seeing it taken away," Pappas said today.
  • At one time, property owners had a dozen months to pay delinquent taxes before the Annual Tax Sale.
  • Owners can avoid the Tax Sale by paying all delinquent taxes and interest before the Sale begins.
  • More than 42,000 properties currently owe more than $130 million in delinquent taxes for Tax Year 2018 (due in 2019).