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Tag: Civil Tax Controversies & Trials

Navigating the IRS’s Self-Dealing Rules for Private Foundations

By Usman Mohammad and Emma Westerhof The CPA Journal, Tax Practice & Procedure Column April/May 2021 Issue The Donald J. Trump Foundation was undone by alleged acts of self-dealing involving its namesake, Donald J. Trump, who also allegedly used the foundation to promote his candidacy for president in 2016. The

ABA Tax Section Important Civil Developments May 2021 Report

By Stephen A. Josey, Russell A.S. Wirth, et al. American Bar Association, Tax Section Civil & Criminal Tax Penalties Committee May 2021 Meeting The ABA Tax Section meets three time a year, and at each meeting the subcommittees of the Civil & Criminal Tax Penalties Committee present detailed reports summarizing

The IRS’s Assessment Of Penalties On Substitute Forms 3520-A

By Megan L. Brackney Tax Notes International, Volume 102 Issue 3 Tax Notes Federal, Volume 171 Issue 3 April 19, 2021 In recent months, we have seen several clients being heavily penalized for purportedly late filing Form 3520-A, “Annual Information Return of Foreign Trust With a U.S. Owner,” when they