Offshore Accounts Remain IRS Enforcement Priority
Posted on: May 16, 2019 | By: Stephen Dunn | Bank Secrecy Act, Delinquent FBAR Submission Procedures, FBAR, Form 3520, Form 3520-A, Form 5471, Form 8865, Form 8938, Form 926, International Information Returns, Statute of Limitations, Streamlined Procedures, The FBAR Filing Requirement, Uncategorized
At the American Bar Association Taxation Section’s annual meeting in Washington, D.C., in May, 2019, IRS representatives said the IRS continues examining evidence of Americans’ foreign financial accounts,...
Shareholders in Closely-Held Foreign Corporations: Beware Form 5471
Posted on: October 8, 2018 | By: Stephen Dunn | Controlled Foreign Corporations, Delinquent International Information Return Submission Procedures, Foreign Accounts Compliance, Form 5471, International Information Returns, Uncategorized
A U.S. taxpayer whose interest in a closely-held foreign corporation meets a specified threshold must file Form 5471, Information Return of U.S. Persons With Respect to Certain Foreign...