Aug 28, 2017 | Firm Updates, International Tax
In the previous post we discussed what an Individual Taxpayer Identification Number (ITIN) is and what it is used for. In this post we’ll discuss the process of applying for an ITIN. To obtain an ITIN you must file Form W-7: Application for IRS Individual...
Aug 22, 2017 | Firm Updates, Individual Tax
Converting a traditional IRA to a Roth IRA can provide tax-free growth and the ability to withdraw funds tax-free in retirement. But what if you convert a traditional IRA — subject to income taxes on all earnings and deductible contributions—and then discover that you...
Aug 21, 2017 | Firm Updates, International Tax
Individual Taxpayer Identification Numbers (ITINs) are tax processing numbers issued by the IRS. They are available for taxpayers who need an identifying number but are not eligible to obtain a Social Security Number. Whether they are required to be provided to third...
Aug 15, 2017 | Firm Updates, Small Business
It’s a safe bet that state tax authorities will let you know if you haven’t paid enough sales and use taxes, but what are the odds that you’ll be notified if you’ve paid too much? The chances are slim—so slim that many businesses use reverse audits to find...
Aug 14, 2017 | Firm Updates, International Tax
If you have a “seriously delinquent tax debt,” the IRS is now authorized to notify the State Department of such outstanding debt. In turn, the State Department may deny your request for a passport or revoke your current passport. If you are overseas when your passport...