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An increasing number of submissions under the Streamlined Domestic Offshore Procedures are subject to an IRS audit (hereinafter “Streamlined Submission Audit”). In this article, I will explain what a Streamlined Submission Audit is and what a taxpayer should expect during the Audit. Streamlined Submission Audit: Background Information on Streamlined Domestic Offshore Procedures Streamlined Domestic Offshore […]
On January 2, 2018, the IRS issued Rev. Proc. 2018-7 (2018-1 IRB 271) to update its existing international No Rule list. I will quickly overview what the No Rule List is and provide a copy of Sections 3 and 4 of the No Rule List. What is an International No Rule List? It may be […]
Our team at Sherayzen Law Office wishes a very Happy New Year 2018 to our clients; colleagues at other law firms; judges of state and federal courts; our website blog readers; and our followers on Facebook, Twitter, YouTube and other social media. Year 2017 was another highly successful year at Sherayzen Law Office. Our tremendous […]
The Tax Cuts and Jobs Act of 2017 made dramatic changes that affected pretty much every US taxpayer. This is the first article of the series of articles on the Act. I will start this series with the discussion of simple US domestic issues (such as 2018 standard deduction and personal exemptions), then gradually turn […]
The Tax Cuts and Jobs Act of 2017 radically changed the US tax system with respect to deductible state and local income taxes, including real property taxes. Starting tax year 2018, real estate, person property, income taxes and sales taxes are deductible only up to $10,000. This means that people with high property taxes have […]