Creating any business is a time-consuming endeavor which takes a lot of know-how, time, and dedication which can plague even the most diligent business owner. Being at the helm of
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In today’s uncertain economic times, businesses are looking for any advantage they can get in helping ensure cash flow, investment opportunities, and tax advantages. Tax reform has created various opportunities
The IRS has revised the instructions for Form W-7, “Application for IRS Individual Taxpayer Identification Number.” The revision provides that Certifying Acceptance Agents (CAAs) can verify original documentation and certified
The Large Business and International (LB&I) division of the IRS recently announced a new compliance campaign targeting self-employed individuals in U.S. territories who underpay or fail to pay their self-employment
The IRS recently changed the process under which it accepts requests for verification that it has received a filed FinCEN Form 114, “Report of Foreign Bank and Financial Accounts” (FBAR).
The IRS recently granted relief to certain U.S. persons who own stock in certain foreign corporations affected by the repeal of Internal Revenue Code Section 958(b)(4) under the Tax Cuts
Various dollar figures related to international tax are adjusted annually for cost-of-living increases. These adjustments reflect a measure of inflation that was revised by the Tax Cuts and Jobs Act
In a recent revenue procedure, the IRS updated two lists of countries with which the United States has agreements that require payers to report certain deposit interest paid to nonresident
The IRS has revised its general frequently asked questions (FAQs) on the Foreign Account Tax Compliance Act (FATCA). The revisions focus on certification and periodic review requirements involving Qualified Intermediaries
The IRS recently issued final regulations on the operation of a safe harbor rule that’s used in determining whether allocations of partnership creditable foreign tax expenditures (CFTEs) to partners are