How Does the IRS Calculate Interest?
The IRS charges interest on late or unpaid taxes, regardless of cause. The period covered always begins with the original due date of the return, and ends with the receipt of payment by the IRS. You may incur interest expenses for late filing, or simply for making a mathematical error on your tax return. Generally, […]
Beware of the Consequences of Avoiding U.S. and Foreign Taxes
The catch phrase in the movie Jerry McGuire was “Show Me the Money!” It now looks like prosecutors are adopting the same mantra and are enjoying success in courts indicting those that attempt to hide money and avoid paying taxes either in the U.S. or abroad. In the past, it was a given that an […]