Form 8938 New Foreign Asset Reporting Requirements: Introduction
In its continuous efforts to combat tax evasion, the IRS imposed a brand-new foreign asset reporting requirements on U.S. persons. For the very first [...]
Limited Liability Partnerships (LLPs)
The term limited liability partnership (“LLP”) is often used in public discourse- often erroneously. What exactly is an LLP, and what are its features [...]
Cash and Property Contributions to Partnerships and Their Affect on a Partnership Interest
A partnership is defined to mean the relationship between two or more persons to carry on a trade or business, with each person contributing [...]
Case Note: Weller v. Commissioner of Internal Revenue
This brief case note describes one of the recent cases of the U.S. tax court. This description is not a legal advice and may [...]
IRS Form 5471 Penalties
Form 5471 is used by the IRS to satisfy the informational reporting requirements of 26 U.S.C. § 6038 (“Information reporting with respect to certain [...]