Month: June 2016

IRS Shuts Down Electronic Filing PIN Service

The Internal Revenue Service has closed down its electronic filing PIN tool after noticing suspicious activity. The IRS said Thursday that it saw automated [...]

IRS Overlooks Noncompliance in Offshore Voluntary Disclosure Program

The Internal Revenue Service is missing out on imposing approximately $21.6 million in penalties on taxpayers who are denied entry or withdraw from its [...]

Offshore Account FBAR Forms Are Due June 30, But Is Filing Your First Admitting A Crime?

If you had foreign accounts in 2015 that in the aggregate topped $10,000 at any timeduring the year, you should file an FBAR–also called Form 114. June 30, [...]

Don’t Forget to Report Certain Foreign Accounts to Treasury by the June 30 Deadline

The Internal Revenue Service today reminded taxpayers who have one or more bank or financial accounts located outside the United States, or signature authority [...]

Right To Remain Silent? Not With IRS And Taxes

Everyone knows something about Miranda warnings and taking the Fifth. The police have to Mirandize you, and even in court, you can say, “I refuse to answer [...]

Health Benefit Expenses: Get the Best of Both Worlds

A lot of CEOs I work with on a daily basis struggle with designing their employee health benefit plans. For most companies, after salaries, this is the [...]

How Common Ownership Affects ACA Compliance Requirements

Under regulations recently proposed by the IRS, employers with less than 50 full-time-equivalent employees (FTEs) that are part of a “controlled group” may [...]

HSA and FSA In The Same Year

During benefits open enrollment at my employer, I signed up for both Health Savings Account (HSA) and Flexible Savings Account (FSA) for next year. You [...]

Taxpayers can get tax return transcripts online once again By Sally P. Schreiber, J.D.

Announcing increased security and authentication procedures, the IRS said Tuesday that it had re-instated its Get Transcript Online service, which had been [...]

Busting Startup Myths: Tracking Financial Metrics is NOT Important

When I was out on lunch with the CEO of an early-stage SaaS startup, I asked him how his company was doing. Quite well, I was told. The revenue is growing [...]