Non-US citizens can face tax obligations if they own a US business and are “engaged in a trade or business in the United States.” This means the Internal Revenue Service (IRS) will likely expect tax filings if your business sells products or services in the United...
Rockville Tax Law Blog
How do I comply when delinquent on FBAR filing?
The U.S. Tax Code is a complex beast. Navigating the rules for reporting assets and filing the appropriate forms is no easy task. Add additional factors like business interests and foreign assets, and the process can quickly become unmanageable. What happens when you...
August 2023 Tax Updates By Tax Attorney Chaya Kundra
IRC §41 & Research Credits: Certain research activities undertaken by apparel retailer/taxpayer with respect to development of business component may be for qualified purpose under Code Sec. 41(d)(3). Also, research activities with respect to development of...
Employment taxes: What are the most common types of non-compliance?
Businesses must meet federal, state, and local tax obligations. These rules and laws are not always easy to navigate. Violations are common and can quickly lead to harsh financial penalties. In some cases, particularly if the taxing authority can establish that there...
IRS’s Dirty Dozen Tax Scams 2023
From the IRS’ Notice IR-2023-71, published on April 5, 2023, the IRS provides its annual list of Dirty Dozen tax scams for 2023. The biggest takeaway is again being wary of sharing sensitive personal data over the phone, email or social media and “a tax deal that...
How To Settle Your IRS Debts On Your Own
Here is a brief explainer directly from the IRS on how to settle your own debts:
2023 Annual Meeting & Law Day Celebration
Ms. Janice Feldman, our senior attorney will be speaking on Innocent Spouse 101: Relief from Joint Income Tax Liability (Taxation Law Section) on May 16th, 2023, from 12:30p.m. - 1:30p.m. Subscribe to Event
Attorney Chaya Kundra is moderating two panels at the ABA Employment Taxes on Friday May 5th, 2023
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Webinar – Forms 5471 and 5472: Meeting the Substantially Complete Standards
Join me for an upcoming Strafford live webinar, "Forms 5471 and 5472: Meeting the Substantially Complete Standards" on Tuesday, July 18, 1:00pm-2:50pm EDT. Click this link for more information: https://www.sp-04.com/r.php?products/tpjtnhhpra. Description Forms 5471...
Green Book Proposal Could Pave Way For More IRS Penalties
Law360 (March 24, 2023, 8:25 PM EDT) -- The Internal Revenue Service would likely impose more civil penalties on taxpayers than it does now if the Biden administration's recently revived proposal to change requirements for supervisory approval of penalties at the...