News & Analysis as of

Filing Requirements Audits Income Taxes

Holland & Knight LLP

Proposed Rule Modifies Timing of "Hot Asset" Reporting

Holland & Knight LLP on

Generally, gain or loss on the sale or exchange of a partnership interest is treated as capital gain or loss except to the extent of so-called "hot assets." Gain attributable to hot assets – generally unrealized receivables...more

Allen Barron, Inc.

IRS Revisions to the Voluntary Disclosure Program for 2024

Allen Barron, Inc. on

What are the IRS revisions to the Voluntary Disclosure Program for 2024? The foundation of the current IRS Voluntary Disclosure Program (VDP) goes as far back as 2009 when the agency worked to provide U.S. taxpayers with a...more

Holland & Knight LLP

TIGTA Tasks IRS with Enhanced Enforcement of Noncompliant Expatriates

Holland & Knight LLP on

The U.S. Treasury Inspector General for Tax Administration (TIGTA) recently audited the Internal Revenue Service's (IRS) programs to ensure compliance by expatriates with the provisions under Sections 877 and 877A of the...more

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