Taxpayers with foreign assets often have international information return filing requirements. And the failure to timely file these returns can be costly. In addition to significant civil penalties ...

In the recent U.S. Tax Court’s decision in Farhy v. Commissioner 160 T.C, No. 6 (April 3, 2023), the court ruled that the Internal Revenue Service lacks authority to assess and collect penalties from ...

The U.S. Tax Court ruled recently that the U.S. Internal Revenue Service has no statutory authority to assess (or collect) civil penalties under IRC §6038(b) for failure to file or filing late IRS ...

Yes, it's another spammy email purporting to be from the IRS. This one has, as its subject, "IRS-SUBJ1" and claims to be from the IRS Tax Notification Department ([email protected]) though the IP ...

The American Institute of CPAs is asking the Internal Revenue Service to provide relief from tax penalties to taxpayers who are required for the first time to file information returns related to ...

Globalization has created extraordinary opportunities for U.S. taxpayers and multinational businesses. Yet, it has also placed U.S. accountants at the center of a fast-moving regulatory environment.

Notice 2018-13 details the government’s intent to issue regulations addressing additional Section 965 computational issues. The new regulations will clarify, among other things, that US shareholders ...