Monthly Archives: February 2014

TAXPAYER ADVOCATE CRITICISES OFFSHORE VOLUNTARY DISCLOSURE PROGRAM (OVDP)

Posted on February 24, 2014 by taxpenaltylawyer

On January 9, 2014, Nina Olsen, National Taxpayer (TA) Advocate Delivered her annual report to congress. The report severely criticized the current version (2012) of IRS’s OVDP for unfairly and disproportionately penalizing benign non-filers and non-filers with small offshore balances. … Continue reading →

Posted in Uncategorized | Leave a comment

RESIDENCE OF PARTICIPANTS IN 2009 OVDP AND FOREIGN COUNTRIES IN WHICH DISCLOSED FINACIAL ACCOUNTS WERE LOCATED

Posted on February 21, 2014 by taxpenaltylawyer

On January 6, 2014 the U.S. Government Account Office (GAO) reported to Senator Carl Levin, Chairman, Permanent Subcommittee on Investigations, Committee on Homeland Security and Governmental Affairs, certain information about the participants in the 2009 IRS Offshore Voluntary Disclosure Program … Continue reading →

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

FINANCIAL INFORMATION OF OTHER SPOUSE SUBMITTED WITH JOINT OFFER IN COMPROMISE CANNOT BE OBTAINED FROM IRS

Posted on February 19, 2014 by taxpenaltylawyer

Suppose a couple who are separated and living apart have submitted a joint Offer in Compromise on an income tax liability owed on a previously filed joint return year.  Now, they are in the process of getting a divorce.  The … Continue reading →

Posted in DIVORCE, IRS COLLECTIONS, TAX | Tagged , , , , | 2 Comments

106 SWISS BANKS AGREE TO NAME NAMES OF US DEPOSITORS

Posted on February 7, 2014 by taxpenaltylawyer

My post of September 6, 2013, “Heat on Offshore Tax Evaders Turned up: DOJ Offers Swiss Government Sanctioned Deal to Smaller Swiss Banks,” described in some detail the Swiss Bank Settlement Program (SBSP) under which Swiss banks not already under … Continue reading →

Posted in 2012 OVDP, FBARS, NEW OVDP, OFFSHORE BANK ACCOUNTS, TAX, VOLUNTARY DISCLOSURE | Tagged , , , , , | Leave a comment