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FATCA Compliance & FBAR Reporting

IRS Announces Second Offshore Voluntary Disclosure Program

The IRS announced that it is starting a new program designed to bring money held in foreign accounts back into the U.S. tax system and to help taxpayers with income from offshore accounts to comply with federal tax law.

The HIRE Act of 2010

In March 2010, Congress enacted the Hiring Incentives to Restore Employment Act, which includes provisions to encourage employers to hire new employees and to make new capital investments. This article discusses these new incentives, as well as the revenue-raising provisions included in the act to offset their cost.

Congress Enacts Hiring Incentives Act with Tax Provisions

The Hiring Incentives to Restore Employment Act contains several tax items, the biggest of which is a payroll tax credit for employers who hire workers who have been unemployed for at least 60 days and who are not replacement hires.

FBAR Penalties Reduced for Six Months

The IRS has provided a framework for voluntary disclosure requests containing offshore issues, such as previously undisclosed foreign financial accounts and entities.

TAX PRACTICE MANAGEMENT

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2025 tax software survey

AICPA members in tax practice assess how their return preparation software performed during tax season and offer insights into their procedures.

Tax Clinic

Access to energy: A ‘new’ intangible asset?

A case study on ILITs: What went wrong, how to fix it, and best practices for prevention

Demystifying reattribution: Disregarded payments and the FTC limitation

Gray areas of Sec. 1202 warrant regulatory guidance

Unlocking efficiency and reducing risk: How automation and AI are transforming tax reporting and withholding functions