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Taxpayers and other tax professionals have been calling us asking, “What is this PFIC I have just heard about? Do I have one? Do I have more than one? Do I now owe hundreds of thousands of dollars to the IRS?” Just what are…
Every week, we have consultations with people that have, unfortunately, been taken advantage of by “tax resolution” companies. We know it can be tempting to hire these companies. Some rely on scare tactics or unrealistic ‘guarantees’ to bring in their clients, or make a ludicrous claim that “you will never have to pay the IRS again.” Many of our clients are in worse trouble…
The IRS Fresh Start Program is a real thing. In this article we will answers some of the common questions taxpayers routinely ask, and find out if the IRS is really “on your…
The Report of Foreign Bank and Financial Accounts, more commonly known as the FBAR, is an annual reporting form issued by the Financial Crimes Enforcement Network, and is required to be completed by …
On October 8, 2014, the IRS published “Streamlined Filing Compliance Procedures for U.S. Taxpayers Residing in the United States Frequently Asked Questions and Answers.” The IRS updated these FAQs on September 29, 2016, bring the total of questions to 17.
FBAR penalty webinar with Anthony E. Parent. Esq. In this 25 minutes video, you’ll learn the history of the FBAR form,the different types of penalties, and how penalties are assessed during an audit, an opt-out of an OVDP, or during an audit of a soft-disclosure.
The Internal Revenue Service claims, with Revenue Procedure 2014 – 55, that it has made easier for taxpayers who hold interests in either of …
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