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On August 25, 2025, the IRS announced that the Fourth Quarter 2025 IRS interest rates on overpayment and underpayment of tax will remain the same as in the Fourth Quarter of 2025. This means that, the Fourth Quarter 2025 IRS interest rates will be as follows: seven (7) percent for overpayments (seven (7) percent in the case […]
Every submission under the Streamlined Domestic Offshore Procedures (SDOP) may be subject to an IRS audit, including the submissions made in 2025. In this article, I will explain what is the 2025 SDOP Audi and what a taxpayer should expect during the Audit. 2025 SDOP Audit: Background Information on Streamlined Domestic Offshore Procedures Streamlined Domestic Offshore Procedures […]
On May 12, 2025, the IRS announced that the Third Quarter 2025 IRS interest rates on overpayment and underpayment of tax will remain the same as in the Second Quarter of 2025. This means that the Third Quarter 2025 IRS interest rates will be as follows: seven (7) percent for overpayments (seven (7) percent in the case […]
On April 15, 2025, Sherayzen Law Office, Ltd., successfully completed its 2025 Spring Tax Season. It was a challenging and interesting tax season. Let’s discuss it in more detail. 2025 Spring Tax Season: Sherayzen Law Office’s Annual Compliance Clients Annual tax compliance is one of the major services offered by Sherayzen Law Office to its clients. […]
This article is an update of the prior articles on the FBAR Civil Penalties. Since the US Congress mandated the IRS to adjust FBAR civil penalties for inflation on an annual basis, this article discusses the year 2025 FBAR Civil Penalties. 2025 FBAR Civil Penalties: Overview of the FBAR Penalty System FinCEN Form 114, the Report of Foreign […]