Posts Tagged ‘FBAR amnesty’

The Offshore Voluntary Disclosure Initiative (OVDI)

Wednesday, August 3rd, 2011

I guest blogged on the CafeTax blog about FBAR Amnesty & The Offshore Voluntary Disclosure Initiative (OVDI).  With the amnesty deadline coming up August 31st, I wanted to educate more people who hold foreign bank accounts that they must disclose these accounts to the IRS.
As I shared in my blog post, the headlines in the past few years have reflected the increased scrutiny of such accounts by the IRS and
[Read More]

Get Tax Help with Your Offshore Bank Account as IRS Pierces Veil of Bank Secrecy, Settling with 14,700 Foreign Accounts

Tuesday, November 24th, 2009

We’ve been hearing a lot of stories about how the IRS is dealing with the abundant influx of voluntary disclosures from Americans who had hid their money overseas in Swiss banks such as UBS. The LA Times recently reported that the IRS is settling with over 14,700 overseas foreign account cases.
According to the LA Times, “To put it simply, this is a historic milestone for the nation’s hardworking taxpayers.”
While many
[Read More]