by Sandra Mertens | Feb 10, 2020 | GCK on Law
On September 6, 2019, the IRS published the new “Relief Procedures for Certain Former Citizens” who wish to come into compliance with their U.S. income tax and reporting obligations without being taxed as a “covered expatriate” under section 877A of the U.S. Internal...
by Sandra Mertens | Jun 6, 2019 | GCK on Law
Virtual currencies such as Bitcoin and Ethereum turned 10 years old in 2018. As virtual currencies become more mainstream, governments around the globe have brainstormed ways to regulate and tax virtual currencies. Fluctuations in prices, difficulties using or...
by E. Philip Groben | Oct 24, 2018 | GCK on Law
The United States District Court for the District of Delaware recently affirmed a bankruptcy court decision enforcing confirmed chapter 11 plan provisions over the objection of the Internal Revenue Service, and in so doing, reduced the tax payable to the IRS by more...
by Sandra Mertens | Mar 16, 2018 | GCK on Law
Since 2009, the IRS has permitted taxpayers with undisclosed bank, investment, or retirement accounts outside the U.S., or any other foreign asset (real estate, stock or partnership interest, life insurance, etc.), to voluntarily come forward and disclose their...
by Sandra Mertens | Feb 8, 2018 | GCK on Law
Given the complexity of the U.S. tax system, it is not surprising that most taxpayers fear IRS on some level. Many of our clients are often overwhelmed by the idea of having to deal with a tax issue, no matter how simple. If you happen to receive a letter or notice...
