by Lynam Knott | Mar 26, 2013 | Aggressive Tax Positions, Offshore Assets, Taxpayer Underpayment, Uncertain Tax Positions
I saw an interesting article today by the President and Publisher of Tax Analysts in which he drew attention to the role of tax professionals in the growing crisis over reduced corporate tax receipts in a time of record corporate profits. He focused his...
by Lynam Knott | Mar 7, 2012 | Award Determinations, IRS Whistleblower Office, Judicial Review, Taxpayer Underpayment
Joseph A. Insinga, retired Rabobank Finance Specialist, filed a petition with the Tax Court arguing that the IRS’s continued refusal to issue a formal determination constitutes a de facto rejection of his claim and appeals this de facto rejection. ...
by Lynam Knott | Jan 12, 2012 | Aggressive Tax Positions, Taxpayer Underpayment
In the tax world, unlike Hollywood, we really don’t get that many juicy stories. However, when the “stars” embarrass themselves with their tax troubles, we are provided relief from yet another story about, for example, the material...
by Lynam Knott | Jan 10, 2012 | Aggressive Tax Positions, Taxpayer Underpayment, Whistleblower Awards
The IRS estimates that the gross tax gap for 2006 is $450 billion, or 17 percent of taxes. The gross tax gap is the amount of the true tax liability faced by taxpayers that is not paid on time. After its enforcement efforts, the IRS estimates that the net...
by Lynam Knott | Nov 22, 2011 | Aggressive Tax Positions, Taxpayer Underpayment
Bloomberg News/Businessweek’s Jesse Drucker makes an astute observation about how billionaires either delay or escape income taxes in his article “U.S. Billionaires Avoid Reporting Cash to IRS.” The article describes how several people on the...
by Lynam Knott | Nov 7, 2011 | Aggressive Tax Positions, Taxpayer Underpayment, Uncertain Tax Positions
The IRS needs whistleblowers now more than ever. A recently released study by the Citizens for Tax Justice and the Institute on Taxation and Economic Policy examined 280 of the current Fortune 500 and found a general pattern of decreasing tax rates,...
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