Tag: Christopher M. Ferguson

By Eric Smith The CPA Journal November 2018 Edition When an individual receives a settlement or litigation award payment, the likely first question is whether the payment is taxable. While CPAs may know that the answer will depend upon the claim underlying the lawsuit, several other questions can arise that will

By Christopher M. Ferguson AICPA Tax Insider Newsletter October 25, 2018 The recent end of the OVDP is not the end of IRS enforcement of undisclosed offshore accounts. For most of the past decade, the IRS has maintained a safe harbor for taxpayers who want to disclose offshore account holdings that