Feature Article 
Foreign Corporations, Form 5471, and the Perils of Offshore Noncompliance
Form 5471 is required to be filed by United States (U.S.) persons—citizens, resident aliens, domestic partnerships, and corporations, and certain estates and trusts—who are officers, directors, or 10... Manasa Nadig, EA
Spring 2026,
Feature Article,
FMV, §318, Form 5471, Schedule R, Schedule F, Treas. Reg. §1.6046-1(i), Form 3520, §6677, Schedule B, §958(a), Form 3520-A, Raj J. Mukhi, Farhy v. Commissioner, §958(b), fair market value, §6038(c), Schedule G, Schedule A, FBAR, §6013, CDP, foreign corporation, Schedule C, Schedule H, §965, offshore noncompliance, GILTI, Schedule M, controlled foreign corporation, §6679, Schedule E, Schedule O, CFC, §6046, Form 8938, Schedule P, Schedule I, §6038B(c), Form 926, Schedule Q
Feature Article
Staying Afloat in the Rising Tide of Foreign Bank Account Reporting
In recent years, the Internal Revenue Service (IRS) has intensified its enforcement efforts targeting noncompliance with foreign bank account reporting (FBAR)i requirements. This heightened focus has resulted in a significant increase in the ... Chelsea Rustek, EA