Shooting for the Stars
Originally Published in WebCPA
Criminal tax evasion is not the only breach of law commanding attention. Recently, an IRS official publicly confirmed that the IRS is concentrating on general U.S. income reporting and tax compliance of foreign athletes and entertainers who work in the United States.
The agency's focus on global sports and entertainment was first announced in October 2007 with the launching of a task force to concentrate on reporting and compliance of high-income golf and tennis players, high-income musicians, and their representatives. According to a recent public announcement, however, the scope of the agency's focus has broadened, with ripple effects on other groups, including directors, producers, technicians, managers, coaches, promoters, etc. Read >>