Reasonable Cause: When can you rely on a tax professional to avoid penalties ?
By Sanford Millar of MillarLaw A Professional Corporation On Sunday, October 2, 2016
When can a taxpayer rely on the advice of a tax professional is fundamental to establishing “reasonable cause” for failure to timely file tax returns. The U.S. Supreme Court stated the standard for what constitutes reasonable reliance on a tax professional and what is a non-delegable duty in United States v. Boyle. In Boyle the … Continue reading Reasonable Cause: When can you rely on a tax professional to avoid penalties ?
Reasonable Cause and Record Reconstruction
By Sanford Millar of MillarLaw A Professional Corporation On Monday, March 14, 2016
Individuals suffering from mental illness or the effects of substance abuse may have a “reasonable cause” for penalty relief. Example, an indivdual who is suffering from chonic drug dependency who may have been in and out of rehab facilities, (think of any number of celebrities) or an individual with a degenerative mental condition such as … Continue reading Reasonable Cause and Record Reconstruction
Who Must Report Foreign Corporations
By Sanford Millar of MillarLaw A Professional Corporation On Sunday, October 25, 2015
The IRS recently published published an internal guideance on who must report interests in foreign corporations and the penalties for non-compliance. The timing of the guideance is important as the first “information exchange” and “information reporting” under the Foreign Account Tax Compliance Act, “FATCA” occurred September 30,2015. The IRS and Justice Deptartment will now be … Continue reading Who Must Report Foreign Corporations