On January 9, 2014, Nina Olsen, National Taxpayer (TA) Advocate Delivered her annual report to congress. The report severely criticized the current version (2012) of IRS’s OVDP for unfairly and disproportionately penalizing...
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ARE OFFSHORE CHEATS GETTING OFF TOO EASY?
May 11, 2013
A recent Wall Street Journal Article, “Leniency for Offshore Cheats,” by Laura Saunders cited statistics that reveal a discrepancy between sentences handed down in offshore cases versus those dolled out in tax shelter...
OFFSHORE PROBES EXPAND BEYOND SWITZERLAND: NOMINEE ENTITY FAILS TO SHIELD TRUE ACCOUNT OWNER
May 5, 2013
Two recent guilty pleas in a California District Court, announced in April by the DOJ, should shake what complacency remains for those with unreported offshore accounts outside of Switzerland. The IRS can find you even if...
When I first read the title of the Act I thought immediately of Jonathan Swift’s satirical essay, “A Modest Proposal for Preventing the Children of Poor People From Being a Burden to Their Parents or Country, and for...
IRS VERSION OF “COMMON SENSE
January 16, 2013
Home office deductions have been something to avoid unless you enjoy jumping through IRS hoops and relish IRS audits. Rev. Proc. 2013-13 offers taxpayers a safe harbor method for calculating the amount of home office expense...