Monthly Archives: May 2013

STATE COURT JUDGEMENT FAILS: COURT ATTEMPTS TO MICRO-MANAGE DEPENDENCY EXEMPTION ENTITLEMENT BUT DOES NOT REQUIRE CUSTODIAL SPOUSE TO SIGN AND DELIVER FORM 8332

Posted on May 20, 2013 by taxpenaltylawyer

It is important for divorce attorneys and clients to remember what a state court judge can and cannot do with regard to federal income tax matters.  Knowing the rules will help lawyers draft appropriate clauses for marital settlement agreements and … Continue reading →

Posted in DIVORCE, TAX | Tagged , , , , , , | Leave a comment

ARE OFFSHORE CHEATS GETTING OFF TOO EASY?

Posted on May 11, 2013 by taxpenaltylawyer

A recent Wall Street Journal Article, “Leniency for Offshore Cheats,” by Laura Saunders cited statistics that reveal a discrepancy between sentences handed down in offshore cases versus those dolled out in tax shelter criminal cases.  The article reports: The average … Continue reading →

Posted in 2012 OVDP, FBARS, NEW OVDP, TAX CRIMES, Uncategorized | Tagged , , , , , , , , , , , | Leave a comment

THEY’LL SING NO MORE IN SINGAPORE

Posted on May 6, 2013 by taxpenaltylawyer

Tax cheats holding unreported offshore money in Singapore’s huge financial center will soon either sing no more or sing a sadder tune.  For as many Swiss banking clients were dumped by their bankers facing a new stricter global anti-tax evasion … Continue reading →

Posted in 2012 OVDP, FBARS, NEW OVDP, TAX, TAX CRIMES, TAX INFORMATION EXCHANGE AGREEMENTS, VOLUNTARY DISCLOSURE | Tagged , , , , , , | Leave a comment

OFFSHORE PROBES EXPAND BEYOND SWITZERLAND: NOMINEE ENTITY FAILS TO SHIELD TRUE ACCOUNT OWNER

Posted on May 5, 2013 by taxpenaltylawyer

Two recent guilty pleas in a California District Court, announced in April by the DOJ, should shake what complacency remains for those with unreported offshore accounts outside of Switzerland.  The IRS can find you even if your account is in … Continue reading →

Posted in 2012 OVDP, TAX, Uncategorized | Tagged , , , , , , , , , , , , , , | Leave a comment