Monthly Archives: February 2011

MORE REASONS TO CONSIDER SECOND IRS OFFSHORE VOLUNTARY DISCLOSURE INITIATIVE (2011 OVDI)

Posted on February 25, 2011 by taxpenaltylawyer

1.  The Wall Street Journal reports that Switzerland intends to make it easier for foreign governments to track down tax cheats hiding funds.  The Swiss Finance Ministry will now provide information if the requesting tax authority provides merely the bank-account number (often  discovered … Continue reading →

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BE CAREFUL WHEN FILING AN AMENDED RETURN

Posted on February 19, 2011 by taxpenaltylawyer

The IRS Chief Counsel’s Office recently issued a Memorandum explaining that for an amended tax return mailed just before expiration of the statute of limitations the U.S. postmark will be accepted as the date of mailing only if the amended return … Continue reading →

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PAYING TAX DOES NOT ABSOLVE ONE FROM TAX CRIME

Posted on February 18, 2011 by taxpenaltylawyer

One of the more dangerous misunderstandings about the tax law is the statement I often hear, “If the IRS comes knocking I’ll just pay up and they will leave me alone.”  Rosie Quinn unfortunately discovered that paying undeposited withheld payroll … Continue reading →

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TAX: THAT THREE LETTER FOUR LETTER WORD

Posted on February 16, 2011 by taxpenaltylawyer

  Tax time is for most too unhygienic.      We all dislike taxes, I guess it’s genetic. Tax is a three letter, four letter word      For, who wants to pay for a governing herd?  Blue and red hucksters gang gaggling … Continue reading →

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SECOND IRS OFFSHORE VOLUNTARY DISCLOSURE INITIATIVE

Posted on February 16, 2011 by taxpenaltylawyer

SECOND CHANCE FOR OFFSHORE TAX SCOFFLAWS By Robert S. Steinberg, Attorney, CPA, CVA   February 11, 2011 LAST BEST CHANCE On February 8, 2011, the IRS announced in IR 2011-14 a second special voluntary disclosure initiative called the 2011 Offshore Volutary … Continue reading →

Posted in 2011 OVDI, TAX | 3 Comments