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Expect Coronavirus Bankruptcies
With the downturn in the economy and massive job losses, bankruptcy filings will skyrocket this year. Unpaid tax liabilities will likely be a large part of clients’ debts. There is…
New Comments of the IRS’ New Streamlined Filing Compliance Procedures for Non-Resident Non-Filer U.S. Taxpayers
…Applying Under Streamlined Procedures. Below are some of my notes: – Taxpayers who do not necessarily meet all the factors under the IRS’s streamlined filing compliance procedures for previously unreported…
The Secret Stretch IRA
…your wealth for two generations and reduce the amount you must take out. Called a stretch IRA, this new version has become a popular estate-planning tool. “Stretch” is a bit…
Common Issues for US-India Tax Reporting
…amnesty programs, under which a previously non-compliant individual can become compliant and avoid potentially very high penalties or criminal prosecution. However these amnesty programs generally require the taxpayer to come…
Letter to Your Spouse
…for a funeral _______________________________________________________. Credit cards. Please destroy all the credit cards in my name except those that are issued jointly to both of us. You do not want to…