EPGD Law Blog



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Short & Simple: How to obtain an ITIN

An Individual Taxpayer Identification Number (ITIN) is a tax processing number issued by the Internal Revenue Service.  The IRS issues ITINs to individuals who are required to have a U.S. taxpayer identification number but who do not have, and are not eligible to obtain a Social Security Number (SSN) from the Social Security Administration (SSA)….   + Read More…

Trust Fund Recovery Penalty and the IRS

If you are reading this article, it is likely because you or someone you know received a letter from the IRS. The letter is probably several pages long, gives the name of a revenue agent to contact, and indicates that the IRS is seeking to assess the Trust Fund Recovery Penalty (TFRP) against you under…   + Read More…

U.S. Tax considerations for Foreign Non-Residents.

1. Resident Alien of the U.S. for Tax Purposes Under the Internal Revenue Code, an individual is a resident alien of the U.S. for tax purposes if they meet either the green card test or the substantial presence test for the calendar year (January 1 – December 31). To meet the substantial presence test, an…   + Read More…

OVDP is ending, now what?

The Offshore Voluntary Disclosure Program or, OVDP, essentially is designed to allow taxpayers to come clean with the certainty that they will not face criminal prosecution for not previously disclosing their overseas accounts. Taxpayers have the added benefit of receiving a fixed penalty structure for settlement of past non-compliance. In exchange for their voluntary compliance…   + Read More…

Charitable Giving During The Application Process

Can your contributions to a charity that has its IRS application pending be still tax exempt? The answer is that it depends on the final outcome and determination of the IRS. While an IRS application is pending for the charitable organization to receive its final tax exemption status, the organization can still treat itself and…   + Read More…

Does My Company Need a Document Retention Policy? What is a Document Retention Policy Anyways?

What Is a Document Retention Policy? A document retention policy is a company policy, which establishes the customary practice and guidelines regarding the retention and maintenance of company records, and sets forth a schedule for the destruction of certain documents received or created during the course of business. Both state and federal laws require each…   + Read More…

How to : Authentication of Evidence and Social Media

Social media has a big influence in our lives in today’s age. Social Media is defined by Merriam-Webster as forms of electronic communication (such as websites for social networking and microblogging) through which users create online communities to share information, ideas, personal messages, and other content. There are various social media platforms such as Facebook,…   + Read More…

Mistakes to Avoid when Transferring a Florida Homestead

When setting up an estate plan, it is common for Floridians to have a revocable living trust in which to transfer their Florida homestead.  Unbeknownst to many, there may be negative consequences to this transfer, but there are things that can be done to avoid such issues: Transferring the homestead into the trust should not…   + Read More…

What is FBAR?

The Bank Secrecy Act rules require taxpayers with financial accounts outside of the United States which total more than $10,000 in the aggregate to file an annual report – called the Report of Foreign Bank and Financial Accounts or “FBAR” – with the IRS.  For certain taxpayers with offshore accounts totaling more than $50,000, Form…   + Read More…

Did you know there are “Whistle Blower Awards”?

WHAT IS AN IRS TAX “WHISTLEBLOWER”? A “whistleblower” is someone who reports misconduct by an employer, co-worker, or another party. For decades, whistleblowers have assisted the Internal Revenue Service (“IRS”) in identifying and prosecuting tax law violations. In 2006, under the Tax Relief and Health Care Act, the IRS Whistleblower Office (“WO”) was created to…   + Read More…

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