Tag: statute of limitation

13
Nov

Understanding Audit, Issues and Strategies (Part 2)

By: Heather L. Marello, Esq. Types of Audits Pursuant to the IRS Data Book, during calendar year 2016, the IRS audited almost 1.1 million tax returns, or 0.5% of all returns filed.  A representative never can (or should) predict to a client whether his or her return will be selected for audit, as a number of factors can cause the

Read more

27
Mar

Recent Tax Court Ruling Limits Statute of Limitations for Foreign Account Reporting

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

Read more

Subscribe

Subscribe to the Tax Matters Blog.
First Name
Last Name
Industry
Email address
Secure and Spam free...

Subscribe

Subscribe to the Tax Matters Blog.
Email address
First Name
Last Name
Industry