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Handling The IRS Audit

In Audit, IRS Regulations by Larry Jones3 Comments

            A. The following items should be discussed with the Revenue Agent at the first meeting: Meet with the Revenue Agent to present the power of attorney form and to establish the ground rules for the audit. Place for the audit. Interview of the client. Submission of document request by the Revenue Agent for documents …

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Foreign-owned domestic disregarded entities: The new reporting requirements

In International Tax, IRS Regulations, Offshore Tax by Jason B. FreemanLeave a Comment

Domestic disregarded entities wholly owned by foreign persons are now subject to new reporting obligations. The Treasury Department and the IRS recently issued final regulations (T.D. 9796) that treat such entities as domestic corporations rather than as disregarded entities for purposes of the reporting requirements under Sec. 6038A. The regulations are effective for tax years beginning on or after Jan. …