Fed tax news.

• Author: Josephs, Stuart R.

Foreign Account Disclosures

The IRS expanded streamlined procedures to provide relief to more taxpayers for nonwillful violations. It also modified the Offshore Voluntary Disclosure Program to tighten some requirements and increase penalties for intentional tax violations (IR-2014-73, Fact Sheets 20 11-6 and -7, and revised Frequently Asked Questions).

Supreme Court Provides Standard for Challenging IRS Summonses

In Clarke, June, 19, 2011, the Court held that a taxpayer has a right to a hearing to challenge an IRS summons if the...