The IRS today clarified its policy with regard to abatement of certain penalties for first time offenders. The policy was modified to clarify that relief applies only where the taxpayer is current with all tax filings and...
Category: TAX
It is important for divorce attorneys and clients to remember what a state court judge can and cannot do with regard to federal income tax matters. Knowing the rules will help lawyers draft appropriate clauses for marital...
THEY’LL SING NO MORE IN SINGAPORE
May 6, 2013
Tax cheats holding unreported offshore money in Singapore’s huge financial center will soon either sing no more or sing a sadder tune. For as many Swiss banking clients were dumped by their bankers facing a new stricter...
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...
“LISTEN, DO YOU WANT TO KNOW A SECRET?”
April 13, 2013
The Beatles sang in the 1960s of sharing secrets and promising not to tell. In an age of prying governments with big eyes and long arms, malicious internet hackers, of snoopers panting to expose,...