Topics Covered: 1. The Story Of Bradley Charles Birkenfeld And How Because Of His Actions No Longer Can Foreign Accounts Be A Secret. 2. When would I have undisclosed foreign bank accounts? So when someone has a foreign account, what are the filing requirements? What are the penalties? What is the solution? 3. Nine Things That Will […]
On June 18, 2014, the IRS announced major changes in the 2012 offshore account compliance programs, providing new options to help taxpayers residing in the United States and overseas. The changes are anticipated to provide thousands of people a new avenue to come back into compliance with their tax obligations. Taxpayers who do not need […]
On June 18, 2014, the IRS announced major changes in the 2012 offshore account compliance programs, providing new options to help taxpayers residing in the United States and overseas. The changes are anticipated to provide thousands of people a new avenue to come back into compliance with their tax obligations. Taxpayers who do not need […]
On June 18, 2014, the IRS announced major changes in the 2012 offshore account compliance programs, providing new options to help taxpayers residing in the United States and overseas. The changes are anticipated to provide thousands of people a new avenue to come back into compliance with their tax obligations. The streamlined filing compliance procedures […]
On June 18, 2014, the IRS announced major changes in the 2012 offshore account compliance programs, providing new options to help taxpayers residing in the United States and overseas. The changes are anticipated to provide thousands of people a new avenue to come back into compliance with their tax obligations. The Offshore Voluntary Disclosure Program […]
Stopping offshore tax cheating and bringing individuals, especially high net-worth individuals, back into the tax system has been a top priority of the IRS for several years and the IRS established offshore voluntary disclosure programs to encourage taxpayers with undisclosed offshore assets to become current with their tax liabilities. The programs have been part of […]
On June 18, 2014, the IRS announced major changes in the 2012 offshore account compliance programs, providing new options to help taxpayers residing in the United States and overseas. The changes are anticipated to provide thousands of people a new avenue to come back into compliance with their tax obligations. The streamlined filing compliance procedures […]
On June 18, 2014, IRS Commissioner John Koskinen announced big changes in the IRS offshore account compliance program or more commonly known as OVDP or the Offshore Voluntary Disclosure Program. Because some taxpayers may have been holding back from entering into the OVDP, the IRS has changed its rules to make it more palatable for […]
The Offshore Voluntary Disclosure Program (OVDP) is a voluntary disclosure program specifically designed for taxpayers with exposure to potential criminal liability and/or substantial civil penalties due to a willful failure to report foreign financial assets and pay all tax due in respect of those assets. OVDP is designed to provide to taxpayers with such exposure […]
The Federal government is stepping up the pressure on taxpayers to report their offshore assets as a deadline to report foreign bank accounts draws near. Taxpayers need to be sharply aware of their responsibility to file the Form FinCEN 114 (formerly known as Form TD F 90-22.1), Report of Foreign Bank and Financial Accounts (“FBAR”), […]
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