Tax controversy professionals–including the current National Taxpayer Advocate–have been bemoaning the complex filing requirements and onerous penalties associated with international information return penalties for years. No longer limited to the notorious FBAR, the IRS has been cracking down on international information report such as Forms 5471, 5472, 3520, and 3520-A since before the pandemic. As a result, IRS Appeals has seen a deluge of cases challenging international information return penalties on the grounds of reasonable cause. This past year, it was the courts' turn to chime in. This panel will explore the recent string of international information reporting cases (including Fahry, Aroeste, and Bittner) and discuss their implications for the future.
Moderator:
- Melissa L. Wiley, Partner, Lowenstein Sandler LLP
Speakers:
- Pedro Corona de la Fuente, Procopio, Cory, Hargreaves & Savitch LLP
- Megan Brackney, Kostelanetz LLP
- Victor Jaramillo, Caplin & Drysdale
- Larry Sannicandro, McCarter & English LLP
- YIN Reporter: Yelena Niazyan, Kostelanetz LLP
Time: 11:30 a.m.-12:30 p.m. ET
Location: New York Athletic Club, 180 Central Park S, New York, NY 10019
