Foreign Tax Preparation

Panama Papers Bring First Indictments in the U.S.

On December 4, 2018, United States Federal prosecutors indicted four men in connection to the “Panama Papers” data breach first revealed in 2016. The four men were charged with tax…

Foreign Tax Preparation

IRS Announces its New Offshore Voluntary Disclosure Program.

In a memo written by Deputy Commissioner for Services and Enforcement of the IRS, Kirsten B. Wielobob, the IRS has announced a new voluntary disclosure program to begin sometime in…

Forms and Filings

Gift Inflation Adjustments in 2017

Annual gift exclusions for 2017 Form 709 United States Gift (and Generation-Skipping Transfer) Tax Return remain at $14,000 to each donee during the calendar year.  The annual exclusion for gifts…

Compliance Issues New York Nonresidents Tax Compliance

New York Utilizing Electronic Data Records for Tax Audits

Taxpayers claiming residency outside of New York while maintaining ties to New York, such as an apartment, room, or other ties in New York, may be exposing themselves to a…

Entity Classification Internal Revenue Code

New Partnership Audit Rules

The Bipartisan Budget Act (“Act”) was signed into law on November 2, 2015 amending the rules concerning how entities taxed as partnerships will be audited by the IRS and who…