by JH | News tax insight | Nov 20, 2024 | Controversy Tax
The U.S. Tax Court offers taxpayers a critical venue to dispute federal tax deficiencies determined by the IRS. A Tax Court petition is not merely a procedural filing; it is a legal assertion of a taxpayer’s right to challenge IRS determinations without first paying...
by JH | News tax insight | Nov 20, 2024 | BOI Report
As part of the Corporate Transparency Act (CTA), entities are required to report Beneficial Ownership Information (BOI) accurately and promptly to FinCEN. Noncompliance, whether intentional or due to negligence, can result in severe penalties. This article outlines...
by JH | News tax insight | Nov 19, 2024 | BOI Report
Today’s article in the BOI Report Series provides a concise overview of filing deadlines and timelines. The Corporate Transparency Act (CTA) requires reporting companies to disclose beneficial ownership information (BOI) to FinCEN, with strict timelines for initial...
by JH | News tax insight | Nov 19, 2024 | International Tax, Offshore Tax Compliance
Foreign pensions often present complex tax issues for U.S. taxpayers due to their classification as foreign trusts under the Internal Revenue Code (IRC). These classifications come with stringent reporting obligations, including Form 3520, Form 8938, and in some...
by JH | News tax insight | Nov 18, 2024 | BOI Report
As part of our ongoing series on the BOI Report, today we will examine the question: If a Company Does Not Have a 25% Owner, Does It Still Need to File a BOI Report? Under the Corporate Transparency Act (CTA), every reporting company must file a Beneficial Ownership...
