Cryptocurrencies were the rage until December 2017 when the Bitcoin pricing reached all-time highs of close to $20,000 after having been as low as $1,000 in January of that year.
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The IRS recently issued questions and answers (Q&As) regarding the transition tax imposed by Internal Revenue Code Section 965. Under finalized regs issued early in 2019, Sec. 965 generally requires
In January 2017, the IRS announced a new audit strategy for its Large Business and International (LB&I) Division known as “campaigns.” With the campaigns, LB&I essentially shifts its examinations based
If you have an interest in (or authority over) a foreign financial account, you may have to electronically file a form called the “Report of Foreign Bank and Financial Accounts”
Business owners often look for tax planning opportunities to reduce their overall tax burden. One highly discussed planning strategy is choice of entity – more specifically a Corporation that elects
Maintaining proper controls over your inventory can be challenging especially if you have no controls in place. Think about when was the last time you conducted an inventory check, if
Recently, rules changed regarding interest deductions for taxpayers. Since new regulations are coming into play under the Tax Cuts and Jobs Act, you may find yourself thinking twice about whether
In June, the IRS finalized certain proposed regs pertaining to the foreign tax credit (FTC). The final regs include changes to the rules that address the interaction between the FTC
During the past couple of months, many businesses have been going through audits of their company’s retirement plan. As you may know, these compliance audits differ vastly from the traditional
Before you decide to invest in annuities, you need to know a few things about them so you can make sure it is the right kind of investment for you.