International Services | | Apr 12, 2023
On April 3, the United States Tax Court issued a ruling that holds that the Internal Revenue Service does not have authority to assess penalties for failure to file Form 5471. Click here to read more.
The DC Circuit has overturned the Tax Court's Farhy v. Commissioner decision, ruling that the IRS can assess penalties for failing to file Form 5471.
The music industry faces a new challenge: AI's role in creativity.
When non-US investors sell real estate property, they may face tax withholding requirements by the United States Internal Revenue Service (IRS). This case study highlights actions that can potentially reduce tax withholding on proceeds when selling US real estate held through a US limited liability company (LLC).
Commencing on January 1, 2024, the federal Corporate Transparency Act (CT) may require many domestic and foreign entities with less than $5,000,000 of annual gross receipts and fewer than 20 employees to file an informational statement with the federal Financial Crimes Enforcement Network (FinCEN).
As the year draws to a close, taking proactive steps in your financial planning can significantly impact your tax liability. This checklist provides a guide to key strategies that individuals can consider before the end of the year to potentially decrease their income tax. By strategically managing income, deductions, and investments, you can optimize your tax situation and position yourself for a more tax-efficient financial future.
The IRS is cracking down on perceived fraud in Employee Retention Tax Credit claims.
Dear Clients and Friends,
We hope you are safe following Hurricane Helene’s impact in North Carolina. Our team is largely safe, but communication is limited. We appreciate your patience with delayed responses. Thank you for your understanding during this challenging time
