For better or for worse: accuracy-related and preparer penalties can impact the tax practitioner-client relationship

Article Abstract:

Tax practitioners should take steps to ensure that the threat to their relationships with their clients posed by the IRS's tax preparer and accuracy-related penalties are minimized. Congress has expanded the IRS's authority to seek accuracy-related penalties under IRC section 6662 and preparer penalties under section 6694. Imposition of these penalties can pit client and practitioner against one another, each asserting that the other failed to provide adequate information. This threat can be minimized through communication, competency and disclosure of risks.

Tax consultants, Practice, Tax penalties

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Structuring inbound investments: a primer on exit issues

Article Abstract:

The author discusses issues regarding investment exit strategies for foreign persons investing in US companies, including applicable tax laws and income tax consequences.

Management, Foreign investments, Aliens

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Structuring charitable gifts of property in lieu of demolition or condemnation

Article Abstract:

The authors examine tax benefits and issues related to building donations in place of condemnation or demolition.

Buildings, Charitable contributions, Charitable donations

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