The IRS issued a news release today announcing a continued and more focused use of Artificial Intelligence (AI) to audit partnerships, large corporations and alleged tax shelter promoters. The news
Continue Reading IRS Going All in on Use of ArtificiaI Intelligence
The U.S. Supreme Court has ruled that the $10,000 penalty for a nonwillful violation of the foreign bank account reporting rules in the Bank Secrecy act applies on a “per-form” basis, not a “per-account” basis, handing individuals an important victory.
Continue Reading U.S. Supreme Court Rules Against Government in FBAR Penalty Case
By Matthew D. Lee and Jonathan Wasser
The Internal Revenue Service plans to provide widespread penalty relief for the late filing of certain tax and information returns for the 2019
Continue Reading Internal Revenue Service Announces Sweeping Penalty Relief for 2019, 2020 Tax Returns