Posts Tagged ‘offshore tax settlement’

IRS Encourages Offshore Account Holders to Come Forward - Get Expert Tax Help BEFORE Talking to the IRS!

Wednesday, November 18th, 2009

The latest IRS step-up in tax collection crackdown has some 14,700 wealthy Americans shaking in their chairs. The IRS reports that it has been seeing an “unprecedented” number of Americans who have come forward before the October 15th amnesty deadline. Offshore account holders who voluntarily disclose their unpaid back taxes on foreign funds by this deadline are able to receive reduced IRS penalties.
For those who did not make the deadline
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Posted in Back Taxes, Offshore Tax Settlements, Seeking Professional Tax Help, Tax news and tips, tax help | Comments Off

Democrats Offer Bill to Prevent International Tax Evasion–Taxpayers Can No Longer Use Foreign Bank Accounts to “Hide” Income

Friday, October 30th, 2009

Earlier this week, Democrats offered a bill that will strengthen the IRS’s ability to crack down on tax cheats who “hide” their full income by using foreign bank accounts.
Following the latest UBS deal that brought 7,500 Americans forward who had previously concealed their foreign bank accounts from the IRS, this new bill “would impose new reporting requirements on foreign financial institutions doing business in the United States, and on American
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Posted in Back Taxes, Penalty Abatement, Seeking Professional Tax Help | 1 Comment »