news & insights

Taking on the Internal Revenue Service (IRS) is never a small task. In recent years, the IRS has cracked down on those who fail to report foreign income or overseas gifts.

Navigating American tax codes can prove difficult for individuals and multinational corporations alike. When American taxpayers have income-generating assets on foreign soil or hold overseas accounts, annual reporting becomes a far more complicated process.

Last week, ProPublica dropped a billionaire bombshell revealing that America’s ultra-wealthy have a true federal income tax rate of only 3.4%.

Last week, Internal Revenue Service Commissioner Charles Rettig told law makers that the tax gap could be well above $1 trillion and increase to an estimated $7.5 trillion over the next decade.

As you may know, the Internal Revenue Service (IRS) shut down its Offshore Voluntary Disclosure Program (OVDP) on September 28, 2018. The OVDP allowed taxpayers to voluntarily disclose unreported foreign financial assets in order to avoid civil and criminal prosecution. In other words, the OVDP allowed those who may have willfully hid money in offshore […]

An overview of updates related to tax law needs in the midst of the COVID-19 pandemic and an update on the continued essential services being offered by Abajian Law.

Examination of the differences between criminal and civil tax penalties, detailing specific penalties that can be handed down by the IRS for various infractions, and how different defenses for differing cases can be beneficial for defendants.

Overview on FBAR financial form 114 and the rules and regulations behind it including when to file and whether or not you should consult a tax attorney to assist in the process.

Have you heard of an FTB offer in compromise? It’s rare, but it can happen in certain cases. Read on to learn more about how you can potentially get California tax debt forgiveness, and what some of the requirements are to qualify.

The IRS has several notorious “30 day” letters that it sends to taxpayers in specific circumstances. Whatever you do, don’t ignore them.