India and the US have agreed to collaborate on offshore tax evasion
India and the US have agreed to again enhance collaboration on tackling offshore tax evasion and increase cooperation in sharing of cross-border tax information after the United States Treasury and India’s Ministry of Finance met last week. Following the conclusion
Internal Revenue Service again issues annual reminder to US persons to report foreign accounts and foreign income
The Internal Revenue Service recently once again issued its annual reminder to US persons to report foreign accounts and foreign income. The reminders issued because of the widespread confusion and misunderstanding that exists among most US persons with foreign assets.
How to Respond to an IRS CP3219N Notice of Deficiency (90-day letter)
Under Sec. 6212(a) the IRS can issue a statutory notice of deficiency, also known as a 90-day letter, when it determines a deficiency in an income or estate and gift tax liability. A 90-day letter is a formal legal notice,
New Leak of Offshore Accountholders Highlights the Need to Clean Up
The U.S. Justice Department is reviewing reports about the offshore financial arrangements of global politicians and public figures based on 11.5 million leaked files from Panamanian law firm Mossack Fonseca, a department spokesman said yesterday. The department is determining whether
Search
Categories
Recent Posts
- NJCPA Seminar “The Corporate Transparency Act: What You Need To Know” April 22, 2024
- IRS Guidance Targets Cash Reporting in the Cannabis Industry April 19, 2024
- IRS International Fines Not Excessive: Form 3520 Penalties Upheld, Form 5471 Penalties Again Unassessable April 16, 2024
- IRS starting to audit employee retention credit (ERC) April 5, 2024
- Questionable ERC could mean trouble for CPAs March 29, 2024
- Employers Must Re-examine Employee Retention Credit (ERC) Claims March 23, 2024
- IRS Enforcement Campaign Targets High-Income Non-Filers March 1, 2024
- Understanding the IRS Emphasis on BSA Filings in Tax Crime Investigations February 24, 2024
- Are Trusts Required to Report under the Corporate Transparency Act (CTA)? February 10, 2024
- Is First-Time Abatement Applicable In International Penalty Cases? January 26, 2024
- National Taxpayer Advocate calls IRS Penalties Draconian and Inefficient January 19, 2024
- Crypto is not = Cash currency for IRS reporting January 17, 2024