International Tax

Scariest Tax Form? Omit It, And IRS Can Audit You Forever

Before you file your taxes, consider how long you must look over your shoulder. In many cases, the IRS has three years to audit. The three years is doubled to [...]

5 questions to ask clients with international ties

With the tremendous amount of wealth transferring into and out of the United States, more and more CPAs are encountering clients with international ties. [...]

US penalty imposition on international tax compliance

As many are aware, the IRS has devoted more attention and resources to international-related tax compliance. There are well-documented reasons for this [...]

IRS Voluntary Disclosure Regime Expands Maximum Penalty Bracket

The IRS recently announced an expansion of the list of banks and advisors that trigger the highest penalty bracket within its Offshore Voluntary Disclosure [...]

What’s new in offshore tax compliance?

<p> Two financial institutions have been added to the 50% penalty list, and the IRS has made clear that streamlined compliance will require some effort [...]

Final rules govern reporting of specified foreign financial assets

Individuals who are required to report interests in foreign financial assets to the IRS got guidance on the process in the form of final regulations (T.D. [...]