Tax Law News and Insights

Key Takeaways: The law regarding computation of FBAR penalties is unclear. The United States Supreme Court has agreed to hear a case to settle a conflict among the circuit courts. Until the Supreme Court case is decided, taxpayers should work to delay IRS settlement discussions unless the favorable Ninth Circuit...

Read More

In 2022, we foresee several trends and developments that will converge to substantially impact tax controversies in the United States. The COVID-19 pandemic will likely continue to change how US taxpayers, the Internal Revenue Service (IRS), and courts approach tax controversies. Modest increases to the IRS's funding – as well...

Read More

What does it mean to be a U.S. income taxpayer? Very simply, it means that you are taxable on your worldwide income and gains, even if you don't live full-time in the U.S. Any U.S. citizen is likely already familiar with this concept (and if they weren't, perhaps they learned...

Read More