If you have claimed a filing status of Head of Household, the IRS may ask you to verify the elements that allow you to claim head of household.  The IRS can send you written notice requesting documents and information that would verify your status.  Form 886 H HOH helps provide the requirements of claiming head...Read More

If you have foreign bank accounts or interests in foreign assets, you may be required to file the FBAR, which is the reporting of foreign bank and financial accounts.  That being said, who enforces the FBAR regulations, and collects on penalties that have been assessed?  FinCEN has directed that the enforcement of the FBAR be...Read More

Are distributions from a nondeductible IRA, such as a Roth IRA taxable?  IRS Form 8606 can be used to calculate the taxable amount (if any) from a nondeductible IRA. The Video below has been prepared by a tax attorney at The McGuire Law Firm to provide additional information regarding Form 8606.  You can speak with a...Read More

Taxpayers may receive a IRS Supporting Document Request from the Internal Revenue Service requesting supporting documents for certain items, issues or positions taken on a tax return.  Common issues of which the IRS would request a taxpayer support could be IRS Filing Status.  For example, if a taxpayer filed head of household, the IRS may...Read More