Topic: Internal Revenue Service

The former CEO of Binance, a crypto currency exchange company that broke US anti-money laundering laws, has been told he cannot go home to the United Arab Emirates.

The Supreme Court of Kentucky ruled last week that Chicago-based Grant Thornton should pay a U.S. hotel operator some US$100 million for marketing a tax scheme the accounting firm knew would likely be disallowed by the Internal Revenue Service.

The Internal Revenue Service reminded U.S. taxpayers that they have until Sept. 28 to apply for the Offshore Voluntary Disclosure Program (OVDP).

U.S. senators on Friday rejected an amendment to tax-reform legislation that would have repealed the Foreign Accounts Tax Compliance Act, dashing immediate hopes for a repeal of the controversial 2010 law.

If you’re about to spend some eight to 22 hours to prepare your federal income tax Form 1040 before the April 18 deadline, well, good luck.

The U.S. Internal Revenue Service has once again reminded U.S. taxpayers with undisclosed offshore accounts to use existing disclosure programs to come into full compliance with their federal tax obligations.

For seven decades, the IRS has struggled to answer questions about the increasingly byzantine tax code. Sometimes it has succeeded; just as often, it has failed.

Two investment and trust management companies affiliated with Cayman National Corporation pleaded guilty Wednesday in U.S. federal court to conspiring with American taxpayers to hide about US$137 million in accounts managed by those companies from the U.S. federal tax authority, the Internal Revenue Service.