by JH | News tax insight | Jun 16, 2025 | International Tax, Offshore Tax Compliance
On May 22, 2025, the U.S. House of Representatives passed H.R. 1, the “One Big Beautiful Bill Act,” which, among other provisions, proposes the implementation of a federal remittance tax. This measure would impose a 3.5% tax on international money transfers initiated...
by JH | News tax insight | Jun 13, 2025 | IRS Notices
For many taxpayers—both U.S. residents and foreign individuals subject to U.S. taxation—receiving a refund after filing their federal tax return is expected. However, when the IRS issues a Notice CP49, it may come as a surprise. This notice informs the taxpayer that...
by JH | News tax insight | Feb 17, 2025 | Controversy Tax, Small Business Tax Planning
If you owe money to the IRS, you may have heard that you can settle your debt for pennies on the dollar. This is called an Offer in Compromise (OIC), and is a tax resolution tool that allows individuals to settle their tax debt for less than the full amount owed. The...
by JH | News tax insight | Feb 17, 2025 | International Tax
Form 8938, “Statement of Specified Foreign Financial Assets,” is a critical reporting requirement for U.S. taxpayers with foreign financial interests. Introduced as part of the Foreign Account Tax Compliance Act (FATCA), Form 8938 helps the IRS track...
by JH | News tax insight | Feb 17, 2025 | Controversy Tax
Taxpayers often encounter challenges in meeting the stringent documentation and substantiation requirements for deductions. The case of Stewart Weston v. Commissioner provides insight into the Tax Court’s reasoning concerning the disallowance of travel-related expense...
