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 are victims of identity theft when they […]

If you are a US citizen or a US Green Card Holder, a US person the Internal Revenue Code 7701(b), and live overseas, you are taxed on your worldwide income regardless of where you earned it. You are also subject to all the US international tax laws, including Report of Foreign Bank & Financial Accounts ( FBAR), Foreign […]

January 25, 2019 The United States Tax Court’s website announced that the Tax Court shut down operations on Friday, December 28, 2018, at 11:59 P.M. and will remain closed until further notice.  The IRS reminds taxpayers and tax professionals the Tax Court website is the best place to get information about a pending case.  There are some […]

January 25, 2019   The United States Tax Court will resume full operations effective Monday, January 28, 2019. Due to a lapse in appropriations, the United States Tax Court ceased full operations on Friday, December 28, 2018, at 11:59 P.M.

January 7, 2019    Issue Number:    IR-2019-01   WASHINGTON- Despite the government shutdown, the IRS today confirmed that it will process tax returns beginning January 28, 2019 and provide refunds to taxpayers as scheduled. “We are committed to ensuring that taxpayers receive their refunds notwithstanding the government shutdown. I appreciate the hard work of the employees and […]

Press Release FOR IMMEDIATE RELEASE 2018-268 Washington D.C., Nov. 29, 2018 — The Securities and Exchange Commission today announced settled charges against professional boxer Floyd Mayweather Jr. and music producer Khaled Khaled, known as DJ Khaled, for failing to disclose payments they received for promoting investments in Initial Coin Offerings (ICOs). These are the SEC’s first […]

Two ICO Issuers Settle SEC Registration Charges, Agree to Register Tokens as Securities FOR IMMEDIATE RELEASE 2018-264  Washington D.C., Nov. 16, 2018 — The Securities and Exchange Commission today announced settled charges against two companies that sold digital tokens in initial coin offerings (ICOs).  These are the Commission’s first cases imposing civil penalties solely for ICO […]

SEC Charges EtherDelta Founder With Operating an Unregistered Exchange FOR IMMEDIATE RELEASE 2018-258   Washington D.C., Nov. 8, 2018 — The Securities and Exchange Commission today announced settled charges against Zachary Coburn, the founder of EtherDelta, a digital “token” trading platform. This is the SEC’s first enforcement action based on findings that such a platform operated as […]

Department of Treasury November 20, 2018   Control Number: LB&I-09-1118-014 Expiration Date: 11/20/2020 Affected IRM: 9.5 MEMORANDUM FOR DIVISION COMMISSIONERS CHIEF, CRIMINAL INVESTIGATION FROM: Kirsten B. Wielobob /s/ Kirsten B. Wielobob Deputy Commissioner for Services and Enforcement   SUBJECT: Updated Voluntary Disclosure Practice This memorandum addresses the process for all voluntary disclosures (domestic and offshore) […]

SEC Crypto Announcements Securities and Exchange Commission (SEC) Crypto Announcements According to the following report, Cryptocurrency ICOs are regulated by the Securities and Exchange Commission (SEC). This Report reiterates these fundamental principles of the U.S. federal securities laws and describes their applicability to a new paradigmvirtual organizations or capital raising entities that use distributed ledger […]