The Resource Collecting tax liabilities abroad : international reach of the IRS

Collecting tax liabilities abroad : international reach of the IRS

Label
Collecting tax liabilities abroad : international reach of the IRS
Title
Collecting tax liabilities abroad : international reach of the IRS
Creator
Subject
Language
eng
Summary
This article analyses and debunks several common misconceptions regarding international tax, using the case Dewees (120 AFTR2d 2017-5429 (DC D.C., 2017)) as a point of reference: (1) if a taxpayer enters into the Offshore Voluntary Disclosure Program (OVDP) to resolve past international tax noncompliance on the most favourable terms possible, the IRS will forget about the taxpayer if he later decides to stop participating in the OVDP; (2) the IRS will be compassionate in determining whether penalties for unfiled Forms 5471 (Information Return of U.S. Persons With Respect to Certain Foreign Corporations) should be asserted; and (3) if a taxpayer lives abroad and lacks U.S. assets, the IRS will not be able to collect any U.S. tax liabilities
Citation source
In: Journal of international taxation. - New York. - Vol. 28 (2018), no. 2 ; p. 34-48
http://library.link/vocab/creatorName
Sheppard, H.E
Geographic coverage
North America
Language note
English
http://library.link/vocab/subjectName
  • collection of tax
  • voluntary disclosure
  • expatriate
  • individual income tax
  • penalties
  • tax treaty
  • exit tax
  • case law
Label
Collecting tax liabilities abroad : international reach of the IRS
Instantiates
Publication
Label
Collecting tax liabilities abroad : international reach of the IRS
Publication

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