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Pictures Credit: Bijay Dixit, Unique Photo Images
Click Here to View Arlene Good’s Presentation
Click Here to View Swapan Dhairyawan’s Presentation
Click Here to View Kershaw Khumbatta’s Presentation
Click Here to View Mahesh Desai’s Presentation
Click Here to View Rimple Mashruwala’s Presentation
Article by Somdatta Basu
Empowering Tax Knowledge: IACCGH Hosts Insightful Seminar
In a bid to foster collaboration and share invaluable insights, the Indo American Chamber of Commerce Greater Houston (IACCGH) recently hosted an enlightening tax seminar, bringing together distinguished speakers and community leaders. The event aimed to empower attendees with comprehensive knowledge about taxation and IRS resources, underscoring the chamber’s commitment to serving the business community for over two decades. Rajiv Bhavsar, President of the IACCGH, opened the seminar with welcoming remarks, expressing gratitude to attendees and highlighting the Chamber’s dedication to supporting the community. Bhavsar emphasized the importance of collaborative efforts with partner organizations to continue providing effective service.
Swapan Dhairyawan, a past president of the Chamber and a prominent community leader, moderated the event. Known for his dedication to various Indian organizations, Dhairyawan emphasized the significance of staying informed about evolving tax laws and regulations. The seminar featured distinguished speakers, including Arlene Good, Senior Stakeholder Liaison Officer at the IRS, who provided invaluable insights into the array of IRS resources available to the public. Good stressed the importance of accessing reliable information on irs.gov and encouraged attendees to seek guidance from tax professionals for personalized advice.
CPA Rimple Mashruwala highlighted the importance of understanding IRS audits, stating, “An audit is not an accusation of wrongdoing. It’s simply an impartial review of your tax return to ensure compliance.” She shared insights on handling audits and emphasized the need to provide proper explanations for each item in response to the IRS.
Mahesh Desai, a seasoned CPA associated with the Chamber since 2012, delved into the implications of non-compliance with tax regulations. Desai underscored the urgency of embracing compliance in the face of the IRS’s increased focus on foreign bank accounts and assets. He highlighted emphasis on leveraging technology to uncover unreported assets and transactions, stressing the importance of adapting to the digital era.
Dhairyawan, addressed the prevalence of audits and the importance of adherence to reporting requirements. Dhairyawan emphasized the need for reasonable and necessary expenses justification, regardless of employment status, and cautioned against rash financial decisions in times of loss. He outlined the significance of a financial checklist for surviving spouses, advocating for preparedness and caution against scams targeting vulnerable individuals. Dhairyawan concluded with a call to action for attendees to spread awareness about available IRS resources and safeguard sensitive information from identity theft.
The tax seminar organized by the IACCGH provided attendees with invaluable insights, empowering them to navigate the complex tax landscape with confidence and efficiency.