Along with the many ails COVID-19 brings to the table is the possibility that it will cause a default on payments due under Compromise and Settlement Agreements with the Texas Comptroller. The potential implications of a...
Each year taxpayers are required to disclose their participation in a reportable transaction by filing a Form 8886 with the IRS. In recent years the IRS has added both Section 831(b) micro captives and syndicated...
IRC Section 6038D requires any taxpayer who has an interest in a “specified foreign financial asset” to disclose that asset to the IRS on a Form 8938 attached to the taxpayer’s annual tax return. The penalty for failure...
Any taxpayer with delinquent FBARs or other tax filings should consult with a tax professional regarding the best option for resolving these issues. For any questions on this or any other tax-related matter, please feel free...
On January 23rd the Joint Chiefs of Global Tax Enforcement (J5) released the following statement regarding its “day of action” conducted on January 22nd: A globally coordinated day of action to put a stop to the suspected...
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