My Application was Unsuccessful—Can I Still Be Prosecuted for PPP Fraud?
Offshore Account UpdatePosted in on July 31, 2023
News & Events
Category: Offshore Account Update - Page 8
The Paycheck Protection Program (PPP) officially ended on May 31, 2021. But, while it has now been more than two years since lenders stopped accepting applications, fighting PPP loan fraud still remains a top federal law enforcement priority.Read More
For many people, federal income taxes take a big chunk out of their paychecks. While some taxpayers are entitled to a refund at the end of the year, it is possible to still owe more if your withholding doesn’t fully cover your federal income tax liability.Read More
What Partners in International Partnerships Need to Know About the IRS Audit Process
Offshore Account UpdatePosted in on June 16, 2023
Partnerships with foreign partners are subject to several federal tax requirements that do not apply to other types of businesses. For example, as the Internal Revenue Service (IRS) explains, in addition to filing an annual partnership tax return, “[p]artnerships . . . with foreign partners . . . could be responsible for [a] FIRPTA withholding, NRA withholding, and partnership withholding under sections 1446(a) and 1446(f) of the Internal Revenue Code (IRC).”
Read MoreIf you receive a paper paycheck from your employer instead of a direct deposit, you have two primary options: (i) you can deposit the check into your bank account, or (ii) you can cash your paycheck and get access to your funds immediately.Read More
Partnership Tax Audits: What To Expect (and What Not to Expect) from the IRS
Offshore Account UpdatePosted in on May 19, 2023
The Internal Revenue Service (IRS) regularly audits partnerships’ tax returns. For partnerships that have underpaid their federal tax liability, these audits can lead to substantial liability. They can also lead to scrutiny of individual partners’ returns in many cases.
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