Good news! The U.S. Tax Court made a decision that could help taxpayers like you. In the case, Mukhi v. Commissioner, the court said the IRS lacks the authority to decide on its own to give you a penalty if you fail to report ownership of a foreign company. This decision conflicts with a previous […]

In Mukhi v. Commissioner, 163 T.C. No. 8 (2024), the U.S. Tax Court reaffirmed its earlier decision that the IRS lacks statutory authority to assess penalties under Internal Revenue Code §6038(b)(1) for failing to report ownership in foreign corporations. This ruling contrasts with a D.C. Circuit decision in another case, creating a divide in the […]

The IRS recently announced important changes to tax brackets, standard deductions, and retirement contribution limits for 2025. These adjustments, driven by inflation, impact your tax planning and savings strategies. Whether you’re proactively optimizing your strategy or already facing an IRS challenge, our tax attorneys can help. We focus on resolving IRS tax controversies and ensuring […]