IRS Problems

IRS Problems | Offshore Assets and Accounts Disclosure | Taxation

THE U.S. SUPREME COURT OPINED THAT THE REPORT OF FOREIGN BANK AND FINANCIAL ACCOUNTS MAXIMUM NONWILLFUL VIOLATION PENALTY IS $10,000 PER FBAR NOT PER ACCOUNT
March 6, 2023

THE U.S. SUPREME COURT OPINED THAT THE REPORT OF FOREIGN BANK AND FINANCIAL ACCOUNTS MAXIMUM NONWILLFUL VIOLATION PENALTY IS $10,000 PER FBAR NOT PER ACCOUNT By: Coleman Jackson, Attorney & Certified Public Accountant March 6, 2023 The Bank Secrecy Act (BSA) and its implementing regulations require certain individuals to file annual reports with the federal…

Read More THE U.S. SUPREME COURT OPINED THAT THE REPORT OF FOREIGN BANK AND FINANCIAL ACCOUNTS MAXIMUM NONWILLFUL VIOLATION PENALTY IS $10,000 PER FBAR NOT PER ACCOUNT
IRS Problems | Payroll Tax | Sales and Use Tax | Taxation

EPISODE 3: Starting Your First Business in Texas – State and Federal Tax Obligations and the Upcoming FinCEN BOI Reports
December 26, 2022

Coleman Jackson, P.C. | Transcript of Legal Thoughts Published December 26, 2022 Overview: Legal Thoughts is an audiocast presentation by Coleman Jackson, P.C., a law firm based in Dallas, Texas serving individuals, businesses, and agencies from around the world in taxation, contract litigation, and immigration legal matters. This episode of Legal Thoughts is an audiocast…

Read More EPISODE 3: Starting Your First Business in Texas – State and Federal Tax Obligations and the Upcoming FinCEN BOI Reports
IRS Problems | Offshore Assets and Accounts Disclosure | Payroll Tax | Taxation

THE IRS COLLECTION PROCESS AND TAXPAYER’S OPTIONS
December 8, 2022

Coleman Jackson, P.C. | Transcript of Legal Thoughts LEGAL THOUGHTS: THE IRS COLLECTION PROCESS AND TAXPAYER’S OPTIONS | Published November 28, 2022 Listen: Legal Thoughts is an audiocast presentation by Coleman Jackson, P.C., a law firm based in Dallas, Texas serving individuals, businesses, and agencies from around the world in taxation, litigation, and immigration legal…

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IRS Problems | Taxation

Taxpayer’s Responsibility to Substantiate the Numbers on Their Federal Tax Return
November 7, 2022

By Coleman Jackson, Attorney and Certified Public Accountant October 11, 2022 As a general rule a taxpayer is allowed a deduction for all ordinary and necessary expenses paid or incurred during the taxable year in carrying on a trade or business. This basic tax rule is set forth in Internal Revenue Code Section 162. The particular…

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IRS Problems | Taxation

FBAR Filing Requirements & Penalties
October 18, 2022

Coleman Jackson, P.C. | Transcript of Legal Thoughts Published October 3, 2022 Overview: Legal Thoughts is an audiocast presentation by Coleman Jackson, P.C., a law firm based in Dallas, Texas serving individuals, businesses, and agencies from around the world in taxation, litigation, and immigration legal matters. This episode of Legal Thoughts is an audiocast where…

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IRS Problems | Taxation

The Deadline for Employers and Other Payors for Sending Forms W-2, 1099-NEC and 1099 MISC is Approaching Fast! Penalties for Failure to Meet the January 31, 2022 Deadline Without Reasonable Cause Are Drastic!
January 7, 2022

By: Coleman Jackson, Attorney & Certified Public Accountant January 7, 2022 The Law: Treasury Regulation Section 1.6041(a): The federal income tax regulations require that anyone engaged in a trade or business must report compensation paid on Form 1096, Annual Summary and Transmittal of U.S. Information Returns and Form 1099 for non-employee compensation over $ 600…

Read More The Deadline for Employers and Other Payors for Sending Forms W-2, 1099-NEC and 1099 MISC is Approaching Fast! Penalties for Failure to Meet the January 31, 2022 Deadline Without Reasonable Cause Are Drastic!
IRS Problems | Offshore Assets and Accounts Disclosure | Taxation

Foreign Bank Account Penalty Issue: Fifth Circuit Court of Appeals Taking a Per-Account View
December 21, 2021

By: Coleman Jackson, Attorney & Counselor at Law and Certified Public Accountant December 21. 2021 The Fifth Circuit: The United States Court of Appeals for the Fifth Circuit is the federal court that hears appeals from federal court decisions issued by the federal district courts in Texas, Louisiana and Mississippi. That means that the court decisions…

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IRS Problems | Taxation

IRS Cautions Taxpayers About Fake Charities and Scammers Targeting Immigrants
August 1, 2021

By Coleman Jackson, Attorney & Counselor and CPA August 01, 2021 The IRS continues to observe criminals using a variety of scams that target honest taxpayers. In some cases, these scams will trick taxpayers into doing something illegal or that ultimately causes them financial harm. In this blog we will discuss about Fake Charities and…

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IRS Problems | Sales and Use Tax | Taxation

Cash Intensive Businesses Need Good Internal Controls to Substantiate Business Activity
July 17, 2021

By Coleman Jackson, Attorney & Counselor and CPA July 17, 2021 Operating a business enterprise with cash can be an IRS audit flag because businesses operating in cash are susceptible to fraudulent financial transactions. However certain business operations handle a lot of cash in their normal operations. These businesses are classified in tax parlance as…

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IRS Problems | Offshore Assets and Accounts Disclosure | Payroll Tax | Taxation

Here’s Why People Filing Taxes Should Be Careful When Selecting A Professional Tax Return Preparer | LEGAL THOUGHTS
May 7, 2021

Coleman Jackson, P.C. | Transcript of Legal Thoughts Podcast Published March 10, 2021. Legal Thoughts is a podcast presentation by Coleman Jackson, P.C., a law firm based in Dallas, Texas serving individuals, businesses, and agencies from around the world in taxation, litigation and immigration legal matters. This particular episode of Legal Thoughts is a podcast…

Read More Here’s Why People Filing Taxes Should Be Careful When Selecting A Professional Tax Return Preparer | LEGAL THOUGHTS
IRS Problems | Offshore Assets and Accounts Disclosure | Taxation

Podcast – The Long-Arm of the United States Tax Code | LEGAL THOUGHTS
December 16, 2020

Coleman Jackson, P.C. | Transcript of Legal Thoughts Podcast Published November 24, 2020. Legal Thoughts is a podcast presentation by Coleman Jackson, P.C., a law firm based in Dallas, Texas serving individuals, businesses, and agencies from around the world in taxation, litigation, and immigration legal matters. This particular episode of Legal Thoughts is a podcast…

Read More Podcast – The Long-Arm of the United States Tax Code | LEGAL THOUGHTS
IRS Problems | Offshore Assets and Accounts Disclosure | Taxation

Podcast – Foreign Investments and U.S. Income Tax? | LEGAL THOUGHTS
December 9, 2020

Coleman Jackson, P.C. | Transcript of Legal Thoughts Podcast Published September 02, 2020. Legal Thoughts is a podcast presentation by Coleman Jackson, P.C., a law firm based in Dallas, Texas serving individuals, businesses, and agencies from around the world in taxation, litigation, and immigration legal matters. This particular episode of Legal Thoughts is a podcast…

Read More Podcast – Foreign Investments and U.S. Income Tax? | LEGAL THOUGHTS

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Whether you’re a small or medium-sized business owner seeking tax or business representation, or an individual seeking immigration assistance, we are ready to provide vigorous and compassionate legal support. Reach out to Coleman Jackson, P.C. today to discuss how we can help you.