By: Tiffany D. Bell, Esq. Businesses and individuals will receive automatic penalty relief for failure to file certain tax returns and international information returns for the 2019 and 2020 tax years. IRS issued Notice 2022-36 on August 24, 2022, notifying taxpayers that the specified penalties will be waived, or if previously assessed, abated, refunded or credited. IRS announced the penalty
By: Tiffany D. Bell When the IRS closed the 2014 OVDP last fall, which had provided an avenue for taxpayers to come into compliance with any past offshore tax and information reporting, it left many taxpayers and tax practitioners wondering, what do we do now? Since 2009, the IRS has offered taxpayers a variety of voluntary disclosure programs within which
By: Tiffany D. Bell, Esq. In 2010, Congress added to the anxiety of tax practitioners when it expanded the statute of limitations for the IRS to assess income taxes to six years when a taxpayer fails to include Form 8938 with his tax return. Taxpayers use Form 8938 to report to IRS foreign bank accounts and other specified foreign financial
We are pleased to announce the promotion of attorney Tiffany D. Bell from Associate Attorney to Senior Associate. Mrs. Bell is a graduate of the University at Buffalo Law School. She is admitted to practice in New York State. She focuses her practice on tax controversy and international tax compliance.