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Top News In Form 5471 Today - Breaking & Trending Today

Court Unanimously Overturns Farhy, Finding IRS Has Authority To Assess Penalties

Published: May 3, 2024

Farhy challenged whether the IRS had the legal authority to assess section 6038 penalties. The Tax Court said no, but on appeal, the D.C. Circuit disagreed.

Source: forbes.com

Related Topics:

United StatesSullivan WorcesterEric RietveldSupreme CourtCircuit CourtUnited States CourtTax CourtDc Circuit CourtCircuit Judge PollardInformation ReturnWith RespectCertain Foreign CorporationsAlon FarhyColumbia CircuitAssessable PenaltiesSection 6038Form 5471

5 Things You Need To Know Now About IRS Form 5471

Published: March 29, 2024

Whether the U.S. person has a filing obligation or not depends on whether that person also falls within a reporting category.

Source: forbes.com

Related Topics:

A Foreign CorporationInformation ReturnCertain ForeignFiling ComplianceIrs Form 5471Form 5471Form 5471 Penalties