Posts Tagged ‘Voluntary Disclosure’
Wednesday, July 1st, 2009
Swiss banks are shutting the accounts of Americans as the Internal Revenue Service accelerates the hunt for tax dodgers. The country’s biggest banks, UBS AG and Credit Suisse Group AG, have told Americans to move their money into specially created units registered in the U.S., or lose their accounts. Smaller private banks such as Geneva-based Mirabaud & Cie. are closing all accounts held by U.S. taxpayers.
After the American government’s legal
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Tags: avoiding IRS penalties, Back Taxes, delinquent tax returns, IRS penalties, irs problems, IRS tax problems, Michael Rozbruch, offshort accounts, Swiss bank accounts, tax cheats, tax dodgers, tax evasion, tax expert, tax help, tax relief, tax resolution, tax resolution expert, tax resolution services, Voluntary Disclosure
Posted in Tax news and tips | 4 Comments »
Thursday, May 14th, 2009
The IRS has announced a six-month Voluntary Disclosure program that offers lower penalties to those who come forward and pay taxes due on the secret holdings in offshore accounts. Until now, the IRS could impose penalties of at least 50% for all years in which an account wasn’t disclosed. In some cases, that could exceed the value of the offshore holdings.
The announcement comes amid a U.S. legal battle to
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Tags: amending tax returns, back tax, filing tax returns, income tax relief, IRS help, IRS penalties, irs problems, IRS tax problems, Michael Rozbruch, off shore banking, quiet disclosures, tax attorney, tax evasion, tax expert, tax resolution, tax resolution services, UBS legal battle, Voluntary Disclosure
Posted in Tax news and tips, Voluntary Disclosure | 1 Comment »
Friday, March 27th, 2009
The IRS announced new voluntary disclosure practices for offshore account holders. Voluntary disclosure can help taxpayers avoid prosecution for possible tax evasion and reduce taxes, penalties, and interest owed. The IRS offers leniency for voluntary disclosure and Americans with IRS tax problems should take advantage of this policy to mitigate legal problems later.
While taxpayers can participate in the voluntary disclosure program before the IRS has initiated a civil or criminal
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Tags: avoid IRS penalties, Douglas Shulman, Michael Rozbruch, offshore accounts, offshore tax evasion, reduce IRS penalties, tax evasion, tax expert, tax help, tax relief, tax resolution, tax resolution expert, tax resolution services, tax settlement, tax shelter, Voluntary Disclosure
Posted in Tax news and tips, Voluntary Disclosure | 2 Comments »
Wednesday, January 14th, 2009
President-elect Barack Obama called Timothy Geithner’s tax problems an “embarrassment,” but also referred to the situation as an “innocent mistake.” So don’t expect Geithner’s $34,000 tax bill to disqualify him from the new administration’s Treasury Secretary appointment.
According to reports, Geithner failed to pay self-employment taxes for money he earned from 2001 to 2004 while working for the International Monetary Fund.
News reports state that the amount that Geithner paid was $16,000
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Tags: geithner, Michael Rozbruch, tax expert, tax help, tax problems, Treasury secretary, Voluntary Disclosure
Posted in Tax news and tips | 2 Comments »
Thursday, October 30th, 2008
When I was on the Big Biz Show with Sully and Russ this month, we were talking about how the recent economic crisis has had a lot of people re-evaluating how they borrow and invest.
If you recall back in the late 80s early 90s when we had the last big recession, the price of gas was $1.20 and people had to make the decision on whether to pay the mortgage
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Tags: Payroll Tax Problems, tax advice, tax expert, tax help, Voluntary Disclosure
Posted in Tax news and tips, Voluntary Disclosure | 1 Comment »
