Don’t Be Turned Down for Streamlined Procedures When Trying to Resolve FBAR Reporting Problems If you are thinking about enrolling in the Streamlined Domestic Offshore Procedures (SDOP) or Streamlined Foreign Offshore Procedures (SFOP) in order ... Read More
New Rules for How to Establish Non-Willfulness for Streamline Program and Other FAQ Updates The most recent updates to the FAQs for the Streamlined Foreign Offshore Procedures (SFOP) and Streamlined Domestic Offshore Procedures (SDOP) have all ... Read More
If we say the word “tax audit” or “IRS auditor” what is the first thing that comes to mind? Our guess is that due to a number of different factors and commonly held misconceptions most laypersons ... Read More
PFIC Tax Rules – Disclosure Options when you Have Foreign Mutual Funds If you’re a U.S. citizen who has lived or done business outside the U.S. it may have seemed like a good idea to ... Read More
The IRS is always looking for quick ways to collect more money and they’ve found a new target: fleet owners and operators who have dodged the hefty 12% tax on trucks over 33,000 pounds GVWR. If ... Read More
Most law-related information on the web comes with a disclaimer towards the end. When discussing foreign real estate and offshore disclosure, though, I would put the disclaimer at the very beginning: It is strongly suggested that ... Read More
Have you ever been faced with the question “Do I need to hire a tax attorney?” If you have, then the answer is yes, you do. If you are faced with the quandary of whether you ... Read More
How to Negotiate with the IRS It can be alarmingly easy for both individuals and businesses to get behind in their taxes and suddenly find themselves in deep trouble with the IRS, the kind of ... Read More
IRS Penalty Abatement: Tips on Writing a Proper Penalty Abatement Letter The IRS Has Assessed You with Penalties: What are Your Options Now? In contrast to popular opinion, the IRS has some discretion in its ... Read More
Don’t Get Blindsided by the IRS: Vital Information about the IRS’s EITC Due Diligence Penalties The IRS Hopes to Blindside Private Tax Preparers The IRS has launched a campaign to step up efforts in enforcing ... Read More
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