This newsletter was updated March 25 to reflect new information released by the IRS. On March 21, 2020, the IRS released IRS Notice 2020-58, which replaces all earlier announcements concerning extended deadlines discussed in...more
The IRS has announced three focused enforcement areas, all related to international tax compliance. The three campaigns were identified through data analysis and suggestions from IRS employees, highlighting the IRS’s use of...more
U.S. individuals and entities are subject to numerous reporting requirements for foreign assets. Failure to comply with such requirements can lead to criminal exposure and significant civil penalties....more