Worried about accusations of tax fraud from the Internal Revenue Service (IRS)? The term “statute of limitations” may come to mind. Does the IRS have to play by the same rules as other government agencies? Is there a time limit when it comes to looking back at tax obligations?
A large tax bill may warrant a challenge. However, building a successful case against the Internal Revenue Service (IRS) is not an easy task. Former Hollywood great Wesley Snipes provides an example.
Starting a business is an exciting, daunting task. What begins as your vision for a company soon becomes a reality. However, that reality requires significant decisions that have unseen consequences.
Technological advances can increase efficiency. One of the most recent examples is the internet. At first, the public and the government were unsure of how to use the internet. After some time, the internet became an integral part of our daily lives and government operations.
Even fame will not protect individuals when the government moves forward with prosecution for tax crimes. The Internal Revenue Service (IRS) recently accused Michael “The Situation” Sorrentino of tax evasion.
Tax reform is not a common occurrence. Tax reform that results in a complete overhaul that impacts almost every taxpayer in the country is even more unlikely. Yet that is the current climate. Individuals, corporations, businesses … every taxpayer in the country will likely experience an impact from the Tax Cuts and Jobs Act (TCJA).