Congress has a sneaky habit of attaching tax bills to end-of-the-year highway funding legislation. HR22, the Surface Transportation Reauthorization and Reform Act of 2015,” has tucked into Title 52 a nasty little tax ditty...
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DOJ PRESS RELEASE: THREE MORE SWISS BANKS SIGN NON-PROSECUTION AGREEMENTS – IMPLICATIONS FOR MISCREANTS NOT YET IN OVDP
November 22, 2015
The Department of Justice announced today that BNP Paribas (Suisse) SA (BNPP), KBL (Switzerland) Ltd. (KBL Switzerland) and Bank CIC have reached resolutions under the department’s Swiss Bank Settlement Program. These banks...
IF YOU DID THESE THINGS YOU BELONG IN THE OVDP
November 6, 2015
Laura Saunders in an October 23, 2015 Wall Street Journal article, enumerates some of the devices used by Swiss Banks to help clients evade their U.S. tax obligations. She lists the following exposed tactics of the banks:...
IRS NOOSE TIGHTENS ON THOSE WITH UNREPORTED OFFSHORE ACCOUNTS: CARIBBEAN AND AUSTRALIAN ACCOUNT HOLDERS AT GREAT RISK
September 30, 2015
The IRS continues to cast a wider net for offshore tax cheats and continues to make the cost of waiting to come into compliance expensive. Some recent developments illustrate: Tax storm in the Caribbean: The IRS had...
For alimony to be deductible under Sec. 215 (a) of the Internal Revenue Code (IRC), the payments must meet all four of the conditions specified in IRC Section 71(b) (1). One of those conditions is that the payment not...