Category Archives: Uncategorized

FALSE ASSUMPTIONS ABOUT TAXES ARE DANGEROUS

Posted on May 14, 2023 by taxpenaltylawyer

May 14, 2023 ASSUMPTIONS IN LIFE We live our lives amidst a world of assumptions, the things we take for granted, not because they have been proved, but, because we simply believe them to be true.  Sometimes we later find … Continue reading →

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STREAMLINED FILING VERSES REGULAR FILING WITH REASONABLE CAUSE STATEMENT  

Posted on December 22, 2022 by taxpenaltylawyer

“Beware of false knowledge; it is more dangerous than ignorance.” – George Bernard Shaw Shaw’s admonition is applicable to both fling delinquent returns using the Streamlined Filing Compliance Procedures or through normal filing channels with a Reasonable Cause Statement attached.   … Continue reading →

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CAUTIONARY TALE FOR POTENTIAL STREAMLINED FILERS AND ADVISORS

Posted on April 23, 2020 by taxpenaltylawyer

The Streamlined Filing Compliance Procedures (Streamlined process or filing)represent a very attractive process by which certain non-compliant taxpayers can come into compliance without penalty (for those living outside of the U.S. who meet a non-residency test) or with a 5 … Continue reading →

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PARADISE LOST: THE “PARADISE PAPERS LEAK REVEALS MODERN DIGITAL AGE TRUTHS – (1) ALL FINANCIAL RECORD CAN BE HACKED. 92) THERE ARE NO CYBER SECRETS.  AN OVDP SOLUTION FOR OFFSHORE NONCOMPLIANCE

Posted on November 8, 2017 by taxpenaltylawyer

In John Milton’s epic biblical poem “Paradise Lost,” the fall of Man is depicted. The Devil is banished to Hell.   The Modern Wealthy Man has had his own fall.  The morality-play today devolves around tax-evasion and the loss of privacy. … Continue reading →

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DEPARTMENT OF JUSTICE ANNOUNCES FBAR GUILTY PLEA OF GREEN CARD HOLDER

Posted on November 3, 2017 by taxpenaltylawyer

On October 26, 2017, Hyung Kwon Kim (Kim), a Greenwich, Connecticut man pleaded guilty to failing to report funds he maintained in foreign bank accounts to the Department of Treasury. The DOJ Press Release was announced Acting Deputy Assistant Attorney … Continue reading →

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THE HOUSE TAX REFORM BILL WOULD REPEAL THE ALIMONY DEDUCTION

Posted on November 3, 2017 by taxpenaltylawyer

The House of Representatives has revealed its Tax Reform Plan encapsulated in The Tax Cuts and Jobs Act (HR 1) The House Committee on Ways and Means Section by Section Summary describes the provision on Alimony as follows: Sec. 1309. … Continue reading →

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SOME COMMON MISCONCEPTIONS ABOUT THE STREAMLINED FILING COMPLIANCE PROCEDURES

Posted on September 29, 2017 by taxpenaltylawyer

I receive many inquiries about Streamlined Filings from U.S. citizens or Green Card holders living outside the U.S. as well as from recent immigrants to the U.S. or work visa holders living inside the U.S. In all of these cases, … Continue reading →

Posted in 2014 OVDP, AMENDED RETURNS, FBARS, OFFSHORE BANK ACCOUNTS, STREAMLINED FILING COMPLIANCE PROCEDURES, STREAMLINED FILINGS, Uncategorized | Tagged , , , , , | Leave a comment

FEATHER THEME

Posted on August 29, 2017 by taxpenaltylawyer

Source: FEATHER THEME

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