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Zaher Fallahi, OFAC Attorney and Tax Attorney, CPA, on 670 AM Radio

Posted by: Zaher Fallahi

Zaher Fallahi, OFAC Attorney and Tax Attorney, CPA, will be on 670 AM, a Los Angeles Radio Station, on Tuesday, August 29, 2017, at 2:00 PM to discuss the legal and tax implication of transferring money from Iran under the Iranian OFAC Regulations, including Offshore Accounts (FBAR, FATCA and OVDP), and answer the callers’ OFAC, […]

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IRS; Protect Taxpayers from Identity Theft

Posted by: Zaher Fallahi

IRS; Protect Taxpayers from Identity Theft Identity theft happens when someone steals someone else’s personal information for financial gain. Tax-related identity theft happens when someone uses another person’s stolen Social Security number (SSN) or Employer Identification Number (EIN) to file a tax return to obtain a fraudulent refund.   Many people first find out they […]

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How Does the IRS Contact Taxpayers?

Posted by: Zaher Fallahi

How Does the IRS Contact Taxpayers? When the IRS needs to contact a taxpayer, the first contact is normally by letter delivered by the U.S. Postal Service. The IRS doesn’t normally initiate contact with taxpayers by email, text messages or social media channels. Depending on the situation, IRS employees may first call or visit with […]

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IRS; Computer Security, “Don’t Take the Bait”

Posted by: Zaher Fallahi

IRS, IR-2017-117, July 6, 2017 Security Summit Launches Education Campaign Aimed at Tax Pros; Warns Against Phishing Epidemic with “Don’t Take the Bait” series WASHINGTON — The IRS today warned tax professionals to increase their computer security and to beware of their inbox – specifically the successful email scams dubbed spear phishing that identify themselves […]

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IRS Warns Seniors of Phone Scammers

Posted by: Zaher Fallahi

WASHINGTON The IRS reminds seniors to remain alert to aggressive and threatening phone calls by criminals impersonating IRS agents. The callers claim to be IRS employees, but are not.   These con artists can sound convincing when they call. They use fake names and bogus IRS identification badge numbers. They may know a lot about […]

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Understanding Iranian OFAC license-II

Posted by: Zaher Fallahi

Understanding Iranian OFAC license-II   What is an OFAC license? A license is an OFAC authorization to engage in an otherwise prohibited transaction under the law. There are two types of licenses: (I) general license and (II) specific license.   I- OFAC General License An OFAC general license authorizes particular types of transactions for a class of […]

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Understanding the Iranian OFAC Regulations-I

Posted by: Zaher Fallahi

Legal and tax implication of bringing money from Iran   What do the Iranian OFAC Regulations Prohibit The Iranian Transactions & Sanctions Regulations, Title 31 C.F.R. Part 560 (the “ITSR”), of Office of Foreign Office Assets Control (OFAC) Regulations, generally prohibit the exportation, re-exportation, sale, or supply of any goods, technology, or services directly or indirectly, from […]

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Taxpayers who may lose their passports

Posted by: Zaher Fallahi
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Revocation or Denial of Passport in Case of Certain Unpaid Taxes   According to the Internal Revenue Service (IRS):   If you are seriously delinquent in your tax debt, IRC § 7345 authorizes the IRS to certify that to the State Department, which in turn usually will not issue or renew your passport after receiving […]

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IRS; Dirty Dozen Tax Scams to Avoid

Posted by: Zaher Fallahi
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IRS Annual “Dirty Dozen” List of Tax Scams to Avoid Includes Falsely Padding Deductions WASHINGTON — Avoid the temptation to falsely inflate deductions or business expenses on tax returns, the IRS warned in its 2017 “Dirty Dozen” list of tax scams. Generally, doing so may result in paying less tax than is owed or receiving […]

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IRS; Five Things to Know About the Child Tax Credit

Posted by: Zaher Fallahi

The Child Tax Credit is a tax credit that may save taxpayers up to $1,000 for each eligible qualifying child. Taxpayers should make sure they qualify before they claim it. Here are five facts from the IRS on the Child Tax Credit:   Qualifications. For the Child Tax Credit, a qualifying child must pass several […]

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