IRS Updates Sections of Internal Revenue Manual Concerning 6707A
On May 16, 2012 the IRS revised the sections of the Internal Revenue Manual dealing with the 6707A penalty. The Manual […]
Author Archives
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IRS Wins FBAR Case
Fourth Circuit Overturns Taxpayer Victory, Imposes Willful Failure to File Civil Penalty Late last week, the Fourth Circuit issued an […]
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FBAR FAQs
Q. What is an FBAR and When is it Due? A. An FBAR is a Report of Foreign Bank and […]
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Taxpayer Advocate Takes IRS to Task on FBAR Disclosure Initiative
In her recently-released annual report to Congress, IRS Taxpayer Advocate Nina E. Olson called for the IRS to improve its […]
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Estate Plan Checkup For July
DON’T FORGET CRUMMEY RESPONSIBILITIES Many clients have been given copies of “Crummey” letters to send to trust beneficiaries who have […]
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New Pennsylvania Tax Legislation
Pennsylvania recently enacted a wide variety of tax changes as part of its recent budget process. A summary of the […]
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Estate Plan Checkup For August: Do you know who your beneficiaries are?
Assets such as IRAs, 401ks, life insurance, and annuities do not ordinarily pass to your beneficiaries under your estate planning […]
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Estate Plan Checkup – Differences between the Federal Estate Tax and the Pennsylvania Inheritance Tax.
What is the Difference between the Federal Estate Tax and the Pennsylvania Inheritance Tax? Even though the Federal Estate Tax […]
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Estate Plan Checkup – Give your family the gift of organization
MARY JO CORSETTI’S ESTATE PLAN CHECKUP: FOR THE HOLIDAYS AND THE NEW YEAR, GIVE YOUR FAMILY THE GIFT OF ORGANIZATION! […]
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U.S. Non-Prosecution Program for Swiss Banks Puts Non-Compliant FBAR Taxpayers at Risk
On August 29, 2013, the U.S. Department of Justice announced a new Department of Justice program, the “Program for Non-Prosecution […]
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Another (Not-So-Subtle) Tax Reminder for Business Owners
Last month, the owner of a popular restaurant in Pittsburgh’s South Hills was sentenced to two years home detention and […]
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IRS Increases Audits of Businesses Using Bitcoin and Other Virtual Currencies
In May of 2013, Liberty Reserve, a Costa Rican company, was indicted in the US for laundering approximately $6 billion over […]
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Agents of Certain Surety Companies at High Risk for Audit
A common cash intensive industry involving an agent and an insurance or surety company is that of bail bonds. The […]
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Another Cash Intensive Business Audited
In December of 2013, a car wash owner pleaded guilty to tax fraud for failing to report nearly $500,000 in wages. […]
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Coin Operated Game Owner Hid $1.3 Million Tax Liability
In December of 2013, a New Jersey native admitted to tax evasion with respect to income earned at a casino […]
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Another Warning from the IRS about Failure to Report Income
Just three short years ago, an operator of two laundromats pleaded guilty to tax evasion. The taxpayer, who was responsible […]
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IRS Expected to Change Offshore Voluntary Disclosure Program, Reduce FBAR Penalty for Non-Willful Violations
For years, taxpayers and tax practitioners have complained that the IRS’s Offshore Voluntary Disclosure Program was too harsh on those […]
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New IRS Streamlined FBAR Program an Attractive Solution for Many, Trap for Some
On June 18, 2014, the IRS overhauled its foreign account disclosure programs. The most significant changes were with respect to […]
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Edward P. Wojnaroski, Jr., authored a chapter in the ABA Practical Guide to Estate Planning book,
Edward P. Wojnaroski, Jr., a member of Williams Coulson in Pittsburgh, PA, authored the chapter, “Private Annuities and Self-Cancelling Installment […]
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Williams Coulson is pleased & honored to receive a Tier 1 ranking in the 2014 Edition of U.S. News – Best Lawyers® – Best Law Firms®.
Williams Coulson is pleased & honored to receive a Tier 1 ranking in the 2014 Edition of U.S. News – […]