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On July 19, 2019, the IRS Large Business and International division (LB&I) announced the approval of another six compliance campaigns. Let’s discuss in more detail these July 2019 IRS compliance campaigns. July 2019 IRS Compliance Campaigns: Background Information In the mid-2010s, after extensive tax planning, the IRS decided to restructure LB&I in a way that […]
I often receive questions concerning a child’s FBAR requirements. Many taxpayers automatically assume that, if their children are below the age of majority, these children do not have to file FBARs. Unfortunately, this is not the case – a child’s FBAR requirements are every bit as extensive of those of his parents. Child’s FBAR Requirements: […]
On August 28, 2019, the Internal Revenue Service (“IRS”) announced that the 2019 Fourth Quarter IRS underpayment and overpayment interest rates will not change from the 3rd Quarter of 2019. This means that, the 2019 Fourth Quarter IRS underpayment and overpayment interest rates will be as follows: Under the Internal Revenue Code, the rate of […]
On October 15, 2019, Sherayzen Law Office, Ltd., successfully completed its 2019 Fall Tax Season. It was a challenging and interesting tax season. Let’s discuss it in more detail. 2019 Fall 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 […]
Form 5471 tax attorney discusses fundamental Form 5471 concepts of US Person, US Shareholder & CFC (Controlled Foreign Corporation)