The Internal Revenue Service can now get information about electronic fund transfers and courier deliveries between the firm, Panama Offshore Legal Services, and its US clients, the Justice Department said in a statement Thursday. The IRS seeks to identify clients who used the law firm to “create or control foreign assets and entities” to evade taxes, the department said.
The amount of additional taxes that the richest Americans owed after the IRS audited their tax returns fell more than 99% in Donald Trump’s first full year in office, data tables released this week show. Among households making on average $30 million in 2018, IRS auditors recommended less than $5.4 million in additional tax. That’s not the extra tax owed by one rich tax cheat. That’s the total for all 26,517 households reporting income of at least $10 million in 2018—the first year of the huge tax giveaway Trump and the Radical Republicans in Congress engineered in the Tax Cuts and Jobs Act of 2017. The recommended additional tax under Trump fell 99.1% from the $610.4 million that tax auditors recommended in 2010, Barack Obama’s first full year as president.
In 2007, Jeff Bezos, then a multibillionaire and now the world’s richest man, did not pay a penny in federal income taxes. He achieved the feat again in 2011. In 2018, Tesla founder Elon Musk, the second-richest person in the world, also paid no federal income taxes. Michael Bloomberg managed to do the same in recent years. Billionaire investor Carl Icahn did it twice. George Soros paid no federal income tax three years in a row. ProPublica has obtained a vast trove of Internal Revenue Service data on the tax returns of thousands of the nation’s wealthiest people, covering more than 15 years. The data provides an unprecedented look inside the financial lives of America’s titans, including Warren Buffett, Bill Gates, Rupert Murdoch and Mark Zuckerberg.
There are many methods of war tax resistance. Each accomplishes a different set of goals and involves a different level of personal risk. This pamphlet explores ways to eliminate your U.S. federal income tax by keeping income low and by using legal tax-reducing measures. It shows you how to find your “tax line” — the level below which you will have no federal income tax at all. It also describes some benefits and challenges of low-income tax resistance, and shows how you can reduce or eliminate other tax payments in similar ways. This is the 5th in a series of Practical War Tax Resistance pamphlets produced by the National War Tax Resistance Coordinating Committee (NWTRCC). You can find a listing of other NWTRCC publications at the end of this pamphlet along with a resource list for further reading on the art of simple living.
By Nora Gámez Torres for In Cuba Today - For years, the U.S.-based Pastors for Peace defied the embargo on Cuba with “caravans” of humanitarian aid hauled across the U.S.-Mexico border that were then shipped to the island. In Havana, its founder, the Rev. Lucius Walker, was received like a hero. Although the organization never applied for a license from the Office of Foreign Assets Control to bring aid to Cuba, it did not face reprisals, although U.S. authorities occasionally tried to withhold the shipments on the Mexican border.
By Staff of IFCO News - After 7 years of harassment and intimidation at the hands of the Internal Revenue Service, the Interreligious Foundation for Community Organization (IFCO) has been informed it will be stripped of its tax exempt status for its humanitarian work in Cuba — unless we act now!
By Fergus Hodgson for Tax Revolution Institute - Since 2014, the Internal Revenue Service has ceased confiscating the property of innocent individuals. Or have they? No one wants to throw cold water on the party, especially when it comes to a victory over the IRS. However, an exclusive interview with Attorney Robert Everett Johnson of theInstitute for Justice (IJ) reveals how little the tax-collection agency has conceded with their policy updates.
By Adam DeAngeli for Tax Revolution Center - The draft of the House of Representatives’ financial-services appropriations bill contains language very similar to what was passed last year to defund the IRS from implementing the nonprofit muzzle rule. If enforced, the rule would harm the nonprofit community by curtailing their First Amendment right to speech and creating legal exposure for accidentally violating these new draconian limits. It’s well and good that the IRS will be prohibited another year from carrying out this rule, but unfortunately this bill leaves the door open for the IRS to move forward with their mandate the following year.
By Joe Catron for Mint Press News - WASHINGTON — On Wednesday, March 30, the National Lawyers Guild filed a regulatory challenge asking the Internal Revenue Service to investigate the tax-exempt status of the Jewish National Fund. The group’s 501(c)(3) classification, a valuable asset for charities in the United States, not only exempts it from taxation, but also lures donors with the prospect of breaks on their own taxes. But unlike most charities, the JNF is “responsible not only for the past displacement of Palestinians, but the ongoing displacement of Palestinians and discrimination against Palestinian citizens of Israel...
By Thor Benson in TurthDig - According to Rottman, who is a legislative counsel and policy adviser at the ACLU’s Washington Legislative Office, “this bill would make that modest but essential change, and bring our email privacy laws into the age of broadband and cloud computing.” Without such a change in the ECPA, however, agencies like the U.S. Securities and Exchange Commission, the IRS and others can simply obtain data stored in the cloud by sending a company like Google a subpoena demanding access to that data when it is 180 days old or older. Users might not even realize their privacy had been breached, because the government can deal directly with the email service providers. On the other hand, if these agencies want the same data before it is 180 days old, they need to obtain a warrant.
A 10-year veteran Internal Revenue Service (IRS) attorney has demanded a congressional audit of the IRS to investigate the agency's alleged role in allowing US corporations to illegally avoid paying billions of dollars in taxes even as it cracks down on individuals and small businesses. In a letter to Treasury secretary Jacob Lew, IRS commissioner John A. Koskinen and IRS chief counsel William Wilkins, Jane J. Kim, an attorney in the IRS Office of the Chief Counsel in New York, accused IRS executives of "deliberately" facilitating multibillion-dollar tax giveaways. The letter, dated October 19, will add further pressure on the agency, which is under fire for allegedly targeting conservative and Tea Party groups.
After intense criticism from both ends of the political spectrum, the Internal Revenue Service has delayed indefinitely proposed rules that would have imposed new limits on social welfare nonprofits, which have pumped hundreds of millions of dollars from anonymous donors into recent elections. The agency said yesterday it would postpone a hearing on the proposal it released in November defining more clearly what constitutes political activity for such groups, and would revise the plan to reflect some of the more than 150,000 comments it triggered. Officials put no timeline on the process, disappointing those who had hoped the new regulations might kick in before this year's mid-term elections. "I think it's unfortunate that new rules will be delayed even further and that we're going through another election cycle" without them, said Paul S. Ryan, senior counsel with the Campaign Legal Center. Others called the delay a prudent step that would give the IRS an opportunity to get a crucial change right. "They're not going to put out some slapdash rule just to check it off their list," said John Pomeranz, a Washington lawyer who works with nonprofits that spend money on politics. He doesn’t expect the agency to finish the rules any time soon. “I think we’ll be lucky if they’re in place for the 2016 election.”