Late in 2014, we commented on the IRD’s position on the availability of foreign tax credits for New Zealand tax residents, with respect to United States-sourced pensions. The current situation gives rise to double taxation with respect to pension income arising...
The IRS offers first-time penalty abatement waiver as a one-off remission of failure-to-file, failure-to-pay and failure-to-deposit penalties if certain criteria are met. We have in-house experience on achieving this penalty waiver, based on the American Institute of...
Tax evasion: Today the IRS disclosed that the revenue authorities of Australia, the United Kingdom and the United States are sharing ‘a substantial amount of data’ obtained on tax cheats from sources that the agency would not fully disclose. Assets hidden...
Taxpayers applying for Individual Taxpayer Identification Numbers are running into many problems with rejection of Form W-7. The latest has been that the IRS has rejected appropriately filed applications right down to correctly certified copies of the passport....
The IRS has started processing Forms 4562 Depreciation and Amortization, and Form 8863 Education Credits slightly ahead of the previously advised late February time frame. Form 4562 is being accepted now and Form 8863 from February 14. Other forms, for which a delay...
