We previously posted on Saturday, October 5, 2013, Suspension of Tax Court Operations During Government Shutdown regarding the cancellation of Tax Court Trial Sessions Scheduled to Begin October 7 and 8, 2013.What does the taxpayer with a Statutory Notice of Deficiency or Statutory Notice of Determination, which gives the taxpayer 90 days from the date…
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Options Available for US Taxpayers With Offshore Accounts and/or Entities!
The IRS' focus on offshore enforcement efforts and related disclosure programs has raised awareness among many U.S. citizens about their tax filing and information reporting obligations. Situations of taxpayers with offshore compliance issues vary widely given the complexity of this area of tax law. Taxpayers that recently learned of these tax requirements should also be…
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FATCA: Updates for Hong Kong, Philippines, New Zealand and Singapore.
Thomson Reuters Accelus Published FATCA IGA Updates for Asia As of September 2, 2013 HONG KONG In August 19, 2013, the Hong Kong Monetary Authority (HKMA) released a circular directing financial institutions to ensure compliance by establishing the necessary processes and controls, if applicable. HKMA also suggested that the Hong Kong Association of Banks and…
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OVDP Closed During The Government – IRS Shutdown.
We originally posted on Tuesday, October 1, 2013, "IRS Operations Limited During The Government Shut Down!" regarding that due to the current lapse in appropriations, IRS operations are limited. Now Anthony Parent has posted that he heard from a senior level OVDP examiner that all those additional IRS examiners that were going to be hired last…
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