Parag Patel Esq. was the featured speaker at the National Association of Enrolled Agents (NAEA) Seminar “2025 Mid-Year Update” last month to over 500 tax professionals. Seminar description is below: “2025 Mid-Year Update” The informative
The global financial landscape is constantly shifting, presenting U.S. taxpayers and their professional advisors with a complex web of compliance challenges. For those managing clients with foreign assets, the obligations are particularly stringent, with potential
Despite staffing cuts, the Department of Justice (DOJ) continues to demonstrate its aggressive stance on employment tax evasion, with several significant prosecutions and sentencings announced in the past two months. For tax professionals, these cases
A recent case serves as a clear illustration of the serious consequences that can result from tax and financial non-compliance, particularly for high-net-worth individuals with foreign assets. The case, which involved a combination of tax
For tax professionals, successfully navigating the IRS appeals process is a critical skill that can profoundly impact a client’s outcome. It requires a deep understanding of not only tax law but also the procedural and
The operational landscape of the IRS has shifted dramatically in recent months, with a significant reduction in its workforce. This change, driven by broader government-wide initiatives, presents a new set of challenges for tax professionals.
The IRS Independent Office of Appeals, often seen as a crucial last stop for resolving tax disputes before litigation, is taking a significant step toward greater transparency. A blog post by the National Taxpayer Advocate
For tax professionals with New Jersey clients, a significant change is on the horizon. A new state law (P.L. 2025, Chapter 67 (A4455/S4503)), signed by Governor Phil Murphy on June 30, 2025, brings New Jersey’s
For tax professionals, the IRS Appeals Office’s Alternative Dispute Resolution (ADR) programs represent a critical pathway to resolving disputes more efficiently than through traditional, protracted litigation. A recent blog post by the National Taxpayer Advocate
The “One Big Beautiful Bill Act,” the latest legislative achievement of the current Trump administration, brings major changes to the tax code and broader economic policy. Its impact spans a wide range of industries and
The IRS places heavy emphasis on Form 8938, the Statement of Specified Foreign Financial Assets mandated by FATCA, and noncompliance can lead to harsh penalties and extended audit exposure. This form is required when U.S. taxpayers
The “One Big Beautiful Bill Act” (OBBBA), enacted on July 4, 2025, has helpful changes to the Qualified Small Business Stock (QSBS) provisions of Code Section 1202. These changes, primarily effective for stock issued after
