The Internal Revenue Service is asking for public comment on information collection tools relating to the Offshore Voluntary Disclosure Program, according to a notice in the July 18 Federal Register Notice Proposed Collection; Comment Request on Information Collection Tools Relating to the Offshore Voluntary Disclosure Program (OVDP) Action Notice And Request For Comments. Summary The…
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BVI LAW – Register for Private Company's Beneficial Owners
The BVI government has published proposals for a Central Registry of Company Beneficial Ownership. Individuals with more than 25 per cent of a company's equity or who otherwise have control of the company will have to be identified on the register at Companies House. The proposals also include abolition of bearer shares and yet another…
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Issues with Streamline Program – Letter 4087?
According to Nathan Farkas, CPA, CA, CPA(NY): Lately, a bunch of my clients have been getting letter 4087 from the IRS from the streamlined program. The letters are saying my clients did not submit signed tax returns, or signed FBAR forms or the signed questionnaire. I know that in all cases where my clients…
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Florida Husband & Wife Indicted for Hiding Assets in Offshore Bank Accounts.
Drs. David Leon Fredrick and Patricia Lynn Hough, of Englewood, Fla., were indicted by a federal grand jury in Fort Myers, Fla., for conspiring to defraud the Internal Revenue Service (IRS) by concealing millions of dollars in assets and income in offshore bank accounts at UBS and other foreign banks, the Department of Justice and…
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