Internal Revenue Service Archives - Christopher J. Byrne PLLC
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Category: Internal Revenue Service

Entity Classification Foreign Tax Preparation Forms and Filings Internal Revenue Code Internal Revenue Service International Taxation Tax Compliance

New Form 5472 Reporting Requirements

Form 5472 Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign Corporation Engaged in a U.S. Trade or Business is often an overlooked form.  In general, this form…

December 22, 2016
Controlled Foreign Corporation ("CFC") Foreign Tax Preparation Forms and Filings Internal Revenue Code Internal Revenue Service Tax Compliance

Dormant Foreign Corporations

A Controlled Foreign Corporation (“CFC”) is, in general, a foreign corporation controlled by a U.S. person(s) through ownership of stock.  A U.S. person owning at least 10% of a CFC has a…

December 15, 2016
Forms and Filings Internal Revenue Code Internal Revenue Service International Taxation Tax Compliance

Forms 5471 and 5472 – Meaning of Substantially Complete

The IRS recently released a new International Practice Unit (“IPU”) on failures to file form 5471.  IPUs are meant to act as a guide for IRS examiners and give insight…

October 27, 2016
Compliance Issues FATCA Internal Revenue Code Internal Revenue Service OVDI Streamlined Streamlined Procedure Tax Amnesty Tax Compliance

Whistleblowers and § 6103(n)

Viagra nl apotheke Doch bevor wir uns nГher mit diesem spannenden Thema beschГftigen, hat das minimales Risiko der Entwicklungsgeschichte von seiten Nebenwirkungen bei fehlenden Gegenanzeigen. Der groГe Vorteil ist, oder…

October 27, 2016
Compliance Issues Court Case Internal Revenue Service International Taxation Tax Compliance

First FATCA Conviction

On May 9, 2016, the Justice Department announced it first FATCA related conviction.  The case itself was the first time that the U.S. government had brought criminal charges based upon…

October 27, 2016
Compliance Issues Forms and Filings Internal Revenue Service International Taxation Tax Compliance

Rent-Free Living – Gift Tax Implications

Form 3520 Annual Return To Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts is an information return which must be filed by individuals to report certain transactions with…

October 27, 2016
Business Internal Revenue Code Internal Revenue Service International Taxation Nonresidents

Nonresidents and Taxation of Online Personal Services

While taxpayers who run online businesses from the United States are generally subject to income tax and state sales tax (depending on the nature of the business, the primary location…

October 21, 2016
Compliance Issues Foreign Tax Preparation Forms and Filings Internal Revenue Code Internal Revenue Service Tax Compliance

3520 Filing Deadline without a Return

Form 3520 Annual Return to Report Transactions with Foreign Trusts and Receipt of Certain Foreign Gifts and Form 3520-A Annual Information Return of Foreign Trust with a U.S. Owner are…

October 21, 2016
Internal Revenue Code Internal Revenue Service International Taxation Nonresidents U.S. Withholding

Special U.S. Tax Rates for Foreign Investors

As part of the 2013 budget negotiations between Congress and the White House over how to close the nation’s deficit, the top tax rate imposed on long term capital gains…

October 21, 2016
Foreign Country Filing Considerations Foreign Tax Preparation Forms and Filings Internal Revenue Service International Taxation International Treaty U.S. Withholding

Alimony Payments by a U.S. Citizen to a Nonresident Alien

With an ever expanding global economy and migrating workforce, it comes as no surprise that marriage and divorce transcends borders as well, creating unique tax implications for those involved.  Generally,…

October 21, 2016
Foreign Tax Preparation Forms and Filings Internal Revenue Service International Taxation Tax Compliance

U.S. Beneficiary of Foreign Grantor Trust and Non Grantor Trust

A U.S. beneficiary of both a Foreign Grantor Trust and Non-Grantor Trust has certain reporting obligations that they must meet with respect to their interest in a foreign trust.  Form…

October 21, 2016
Compliance Issues FATCA Internal Revenue Code Internal Revenue Service International Taxation Tax Compliance

Bahamas Leak

Just months after the massive document leak known as the Panama Papers, 1.3 million files from the Bahama’s corporate registry has hit the internet in what is being referred to…

October 19, 2016
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