We have been closely monitoring IRS information being released about the economic impact payments. Here’s what you want to know: Q: How will I receive the payment?A: If you have filed a 2018 or 2019 US tax return, the IRS will review whether any US bank...
By Gina Gatchell, Director IRS Announces Tax Relief for US persons with Certain Foreign Retirement and Non-Retirement Accounts In refreshing news this week, the IRS has decided to exempt from burdensome information reporting requirements eligible foreign retirement...
IRS News The IRS has announced that the 2020 Annual Tax Filing Season (ATFS) will open on January 27, 2020. The IRS strongly encourages electronic filing and preparers are required to electronically file returns they prepare for compensation. The IRS is currently...
By Gina Gatchell, Director In 2010 I received a call from a very upset US citizen about the enactment of the Foreign Account Tax Compliance Act. She sent me the article she had just read, which set out the future of information reporting by institutions outside the...
Following on from the January 2018 measures introduced under the Fixing America’s Surface Transportation (FAST) Act, the IRS released Notice IR-2019-23 on Wednesday, 27 February 2019. The latest notice is a fresh warning to taxpayers with overdue debt. They are...
