Tag Archives: reasonable cause

Are Your Business Deductions at Risk of Being Disallowed by the IRS?

by  Attorney Patricia Weisgerber, LL.M. Small businesses run on tight margins. The last thing a business owner wants is an IRS notice announcing the disallowance any of their business expense deductions. This is particularly the case for sole proprietorships who report their business expenses on Schedule C of IRS Form 1040. For ...

Delinquent International Information Tax Returns May Extend the Statute of Limitations on Your Entire Federal Tax Return

More and more, U.S. taxpayers are becoming aware of their federal tax reporting obligation for foreign financial accounts, interests and assets. With increased IRS enforcement, broader media coverage of international tax evasion cases, and the implementation of FATCA reporting[1] by foreign financial institutions, the term “FBAR”

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