Stephen Dunn

Jan 18, 2021
An individual can become compliant with United States laws concerning foreign income, accounts and entities by means of the Internal Revenue Service's Streamlined Procedures or its Delinquent International Information Return Submission Procedures ("DIIRSP").

Jan 7, 2021
The Coronavirus Aid, Relief, and Economic Security Act of 2020 (CARES Act) provided for federally guaranteed loans to small businesses. The loans are forgiven to the extent used for qualifying purposes, including employee compensation, continuation of group healthcare...

Nov 20, 2020
For most people, gifting property in anticipation of reduction of the federal estate and gift tax exclusion amount is not a good idea.

Sep 30, 2020
United States citizens and residents ("U.S. persons") need to comply with two U.S. statutory schemes concerning foreign income, accounts, and entities.

Aug 10, 2020
COVID Tax Tip 2020-77, recently issued by the Internal Revenue Service, gives reasons why taxpayers should file a 2019 income tax return.

Jul 17, 2020
The IRS has traditionally shown restraint in imposing penalties upon taxpayers who correct their noncompliance voluntarily, without the IRS prompting them about it.

Jun 29, 2020
The Explanation of Changes to the taxpayer’s amended U.S. income tax return should explain the taxpayer’s reasonable cause for failing to timely file the information returns, and that the taxpayer is proceeding under the Delinquent International Information Return Submission Procedures.

Jun 11, 2020
The IRS may grant relief from penalties for failure to timely file Forms 3520 or 3520-A is due to reasonable cause and not willful neglect.

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