By Sebastien Chain and Tamara Woods Beginning with the 2011 tax year (i.e., for returns filed April 17, 2012 or later), individual taxpayers will be required to file Form 8938 if he or she has an interest in a “specified foreign financial asset” (“SFFA”) (click for additional information on FATCA requirements) that has a value exceeding a certain threshold. [...]
Author Archive
IRS Teaming Up on Wealthy Taxpayers
June 28, 2010As a follow up to my colleague George Connelly’s earlier post concerning the IRS’s recently announced “Global High Wealth” Industry Group, I offer some further thoughts on what the IRS is attempting to do with this new group focusing on wealthy individuals. The IRS recently announced that the group has issued its first batch of [...]
Tax Blawg Report on IRS National Employment Tax Research Project
May 6, 2010The IRS National Employment Tax Research Project has started. On November 9, 2009 the IRS announced its first employment tax research project in 25 years. Under the program, which will last from 2010 through 2012, the IRS will audit 6,000 employers randomly selected from all employment tax filers. It is our understanding that the initial [...]
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Phil Karter
Jonathan Prokup
David Shakow
George Connelly, Jr.
Buck Buchanan
David Bernard
Dustin Covello
Heather Pesikoff
Hale Sheppard
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