Category Archives: 2011 OVDI

IT’S GOOD TO BE RICH: BEANIE BABY FOUNDER GOES FREE

Posted on January 17, 2014 by taxpenaltylawyer

Part T of the Federal Sentencing Guidelines Manual deals with “Offenses Involving Taxation.” The Introductory Commentary states: The criminal tax laws are designed to protect the public interest in preserving the integrity of the nation’s tax system.  Criminal tax prosecutions … Continue reading →

Posted in 2011 OVDI, 2012 OVDP, FBARS, NEW OVDP, OFFSHORE BANK ACCOUNTS, TAX, TAX CRIMES, VOLUNTARY DISCLOSURE | Tagged , , , , , , | Leave a comment

OFFSHORE UPDATE: NEW INDICTIMENTS & SWISS PROBE, FATCA GUIDANCE, EXTENDED DUE DATE FOR OVDI 2011 ADMISSION AND FinCEN FINE IMPOSED

Posted on August 31, 2011 by taxpenaltylawyer

Latest indictment: Another Swiss Banker falls: On August 2, another former Swiss Banker was indicted in the U.S., charged as an enabler, assisting 9 named wealthy U.S. taxpayers to evade U.S. taxes by hiding assets in a smaller Swiss bank … Continue reading →

Posted in 2011 OVDI, COMPLIANCE, TAX, TAX CRIMES | Leave a comment

2011 OVDI RESTATED FAQS HELP BUT CONCERNS PERSIST OVER IRS IMPLEMTATION

Posted on June 4, 2011 by taxpenaltylawyer

Broadly speaking, the IRS had a good idea in trying to bring U.S. citizens and tax residents with unreported offshore financial accounts back into compliance with the tax reporting system.  The number of applicants, almost 15,000, who clamored into the 2009 program, … Continue reading →

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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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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