Staffed by Teaching Faculty of U.S. Tax Court
Admissions & Trial Practice Programs for
Non-attorney & Attorney Federally-authorized
Tax Practitoners at the Tax Law Institute
"If the matter concerns Federal taxes and litigation then you should be talking to us"
Occasionally, we like to remind taxpayers' representatives that it was the U.S. Treasury Department Internal Revenue Service that finally prosecuted and imprisoned noted Chicago gangster-kingpin, Alphonse Gabriel Capone - for tax evasion, no doubt. Without embellishment, it was the greatest single act of law enforcement since the creation of the income tax. Since the beginning of the new millennium, government prosecutions of those who commit tax fraud have been overwhelmingly successful. But as we all know today's IRS just doesn't have the manpower or budgetary resources to go after everyone who cheats - at least, not for now.
With growing and changing demographics, greater demands will be put upon Government to decrease the national debt. That money will come from many sources. The IRS will be put upon to become more aggressive. Expediting delinquent cases will once again get prioritized. Our advisor expects that the revenue-retrieving power of the IRS will come to bear most heavily upon those of modest means. Those who have recently-acquired-wealth will also take a hit. Consequently, we expect to see an increase in the number of cases where taxpayers are audited and pursued for tax deficiencies.
We'd also like to cite some interesting facts about how taxpayers often submit returns. Usually, it's without fully understanding the true implications of the tax treatments assumed and applied by their preparers. Here, we remind representatives that the quality of their training, and especially their continuing education, has everything to do with how they interpret the Code and prepare their clients' returns. Wise representatives who question their returns would be even wiser if they "sought a second opinion." No decent FATP wants to submit returns that otherwise may cause their clients to payout money to protect assets in U.S. Tax Court. If there's a questionable item then it should be scrutinize now before the IRS does and executes an audit. Don't you think?
We leave you with this thought: The IRS is abundantly cautious. Before making claims of fraud, they can be assumed (with certainty) to have the factual evidence to prove it. How you handle such a matter will depend mostly on the counsel you seek and the advice you heed.
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