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NEW IRS COMPLIANCE CAMPAIGN FOCUSES ON DEFERRED FOREIGN INCOME

Aug 11, 2020

The IRS has just announced its newest compliance campaign – focusing on transition tax compliance for foreign company owners. The new campaign will home in on whether a company’s “deferred foreign income” was correctly determined for purposes of applying the transition tax.

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FORM 5471 – TOP 6 REPORTING CHALLENGES

Jul 29, 2020

We briefly describe 6 major challenges facing U.S. business owners attempting to tackle the Form 5471.

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2019 DATA BOOK AND IRS ENFORCEMENT ACTIVITIES

Jul 09, 2020

This past week, the IRS published its annual Data Book, which offers a bird’s-eye view of the IRS’s activities during the past year, with a particular emphasis on enforcement activities, including audits and civil tax penalties.

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