“Gatherwright Freeman has extensive experience in successfully filing voluntary offshore disclosures for taxpayers.” The Voluntary Disclosure Program and Reporting Offshore Accounts and Assets FBAR/ Foreign Accounts over $10,000: The Bank Secrecy Act requires taxpayers with an interest or signature authority over any foreign financial account, including bank account, brokerage account, mutual fund, trust, or other type…
Read MoreOriginal Article by Jessica Craven | LEX LOCI CONTRIBUTOR By now, most people have heard of the term Bitcoin. However, not many understand exactly how Bitcoins work and the legal implications of using the Bitcoin system. It is this lawyer’s humble opinion that all attorneys should have a basic understanding of the Bitcoin system, including…
Read MoreUnder Internal Revenue Code section 501(c)(4), an organization involved in social welfare activities may be granted tax exempt status. Such an organization, for example, the American Civil Liberties Association, may apply to the IRS for approval of its tax exempt status. However, a § 501(c)(4) organization, while allowed to engage in some political activities, may…
Read MoreIRS computers in Martinsburg, West Virginia rate every tax return filed for possible errors using a mathematical formula known as the “DiF Score”, or the “Discriminate Function.” The exact formula for the DiF Score is unknown, but it has to do with the amount of income you reported, sources of income, the size and types…
Read MoreFor taxable year 2012, the estate tax, generation skipping tax, and lifetime gift tax exemptions are $5.12 million per person with a 35% top tax rate. Unless Congress enacts new legislation before the end of the year, the exemption will fall to $1 million per person with a 55% top tax rate.
Read MoreYou may win at tables, lose on taxes BY HOWARD MCEWEN | ENQUIRER CONTRIBUTOR CRESCENT SPRINGS – This tax season, winning gamblers are learning that they might be able to beat the casino, but the IRS holds all the cards. John Freeman and Jennifer Gatherwright, attorneys with Gatherwright, Freeman and Associates Law Firm in Crescent Springs, work with…
Read MoreBy Howard McEwen Enquirer contributor CRESCENT SPRINGS – On April 6, the Internal Revenue Service suspended from practice California enrolled agent Richard Hargus for “not performing services related to offers in compromise (OIC) paid for by taxpayers.” Kathy Mospens, an enrolled agent at Gatherwright Freeman & Associates in Crescent Springs, isn’t surprised by the rare suspension…
Read MoreThe Patient Protection and Affordable Care Act (PPACA),commonly called Obamacare, is the United States federal statute signed into law by President Barack Obama on March 23, 2010. It phases in certain tax implications over the course of several years. In 2013 the Internal Revenue Service is scheduled to phase in the following: Income from self-employment and wages of single individuals in excess of $200,000…
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