For alimony to be deductible under Sec. 215 (a) of the Internal Revenue Code (IRC), the payments must meet all four of the conditions specified in IRC Section 71(b) (1). One of those conditions is that the payment not...
Monthly Archives: August 2015
STATUTES OF LIMITATIONS WORK TWO WAYS
August 26, 2015
In my blog post of August 10, 2015 (Statutes of Limitation and Streamlined Filings or File Forward Strategies) I discussed the impact of various statutes of limitations (SOLs) on Streamlined Filing decisions. It is...
In earlier blog posts I have discussed how Streamlined Filings differ from OVDP submissions. One major difference: unlike an OVDP submission, a taxpayer making a Streamlined Filing is not informed upfront whether his or her...
SOME FBAR GOOD NEWS AND MORE OVDP BAD NEWS
August 6, 2015
FBAR FILING DATE CHANGED TO APRIL 15 It is rare but occasionally congress enacts a law that makes eminent good sense. Tucked away in the Highway Funding Bill (HR 3236) signed by President Obama on July 31, 2015 are tax...