It was a big payday for a lottery ticket buyer from Arizona. The patron entered a local store, purchased a Mega Millions ticket, and left to soon become a millionaire. Later that evening, the ticket holder won the $410 million jackpot.The winner will not,...
Month: June 2020
IRS takes taxpayer to court for FBAR violation
The courts may be operating a bit differently in light of the current coronavirus pandemic, but they are still pursuing cases. In a recent example, the court issued a decision in a recent tax case involving a Foreign Bank Account Report (FBAR) violations. United...
High-income non-filers owe billions, but for how long will the IRS leaves them alone?
Once January rolls around every year, people shift gears from talking about the holidays and New Year's resolutions to planning for the inevitable tax season. The vast majority of Americans pay their taxes in full and on-time.It might surprise most people to learn,...
Can I lose my passport if I do not pay my taxes?
Paying your tax bill is not just a suggestion, but a requirement. A failure to do so can lead to all sorts of problems. This can include financial penalties, interest payments, jail time and even loss of one’s passport.How can the government take away my passport if I...