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The IRS Taxes All Income, Legal or Not
Is there a difference between trading tickets with a friend for a stay at their vacation home and scalping tickets for a big game? One you might see as a legal trade and the other as obviously illegal. To the IRS there is no difference, all are taxable. If you are casually swapping tickets you might not even think of taxes in such a small,...
Serve Your Clients First FATCA Last
Step back from all the changes your financial institution has undertaken in the past year - Did you do the changes to increase customer satisfaction or to make the IRS happy? Chances are your organization has been in a scramble and has forgotten the key part of your business. It is possible to strengthen your client relationship and meet FATCA requirements, it just takes some...
Ignorance and The IRS Don’t Mix
Whenever you play Monopoly you eagerly await the Get out of Jail free card so your stay can be brief and painless. The IRS doesn't play by the Boardwalk or Park Place rules. Ignorance to the tax laws is not an excuse that the IRS will acknowledge. Actions speak louder than words and often the IRS will use you actions to show if your mistake...
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