...the old Offshore Voluntary Disclosure Program (OVDP), taxpayers do not receive automatic protection against criminal/civil penalties and the IRS has wide discretion to impose penalties based on the taxpayer’s level...
...ruling, taxpayers with unreported foreign financial accounts should consider entering one of the IRS’ voluntary disclosure programs, such as the Streamlined Domestic Offshore Procedure. Noncompliant taxpayers are strongly recommended to...
The Delinquent International Information Return Submission Procedures are one of the four methods for taxpayers with unreported offshore accounts to become compliant. Taxpayers who have failed to file certain international-related...
...Form 5471 by attaching it to a tax return. For taxpayers who failed to attach required Forms 5471 to their tax returns, this campaign cautions that amended returns should be...
...taxable year of a US person in which or with which such taxable year ends. Taxpayers can also rely on it for the 2018 taxable year. This is good news....
On Aug. 8, 2018, the IRS released proposed regulations around the centerpiece provision of the Tax Cuts and Jobs Act. The new Section 199A tax deduction provides owners of sole...
...tax debt, or Enter a satisfactory payment arrangement with the IRS. Ways to Resolve Tax Issues There are several ways taxpayers can avoid having the IRS notify the State Department...
...in full compliance with all US tax and reporting requirements to avoid future tax and legal problems. For example, US tax law requires annual information reporting on all Indian accounts...
Internal Revenue Code Section 199A was enacted as part of the 2017 Tax Cuts and Jobs Act (TCJA), and slightly modified in 2018. This provision provides a tax deduction of...
Internal Revenue Code Section 199A was enacted as part of the 2017 Tax Cuts and Jobs Act (TCJA), and slightly modified in 2018. This provision provides a tax deduction of...
Internal Revenue Code Section 199A was enacted as part of the 2017 Tax Cuts and Jobs Act (TCJA), and slightly modified in 2018. This provision provides a tax deduction of...
Internal Revenue Code Section 199A was enacted as part of the 2017 Tax Cuts and Jobs Act (TCJA), and slightly modified in 2018. This provision provides a tax deduction of...
