Letter released by the Texas Society of CPAs Federal Tax Policy Committee includes comments from Leo Unzeitig
Chamberlain Hrdlicka Shareholder, Leo Unzeitig, contributed to a comment letter recently released by the Texas Society of CPAs Federal Tax Policy Committee. The committee expressed concerns regarding the overzealous imposition of penalties for taxpayers’ inadvertent failures to file international information returns (specifically, Forms 3520 and 3520-A). The committee suggested a revamp of the IRS’ process for imposing penalties as well as improvements to evaluating reasonable cause statements. The full letter can be found linked below.