Where you have a client that you plan to put into the streamlined program, but do not have all the prior year returns prepared by October 15, 2012; you appear not to be able to qualify for the program. If the taxpayer files their 2012 Form 1040 on time (by October 15), will this disqualify the taxpayer's from the program? The answer appears to…
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Suspension of Tax Court Operations During Government Shutdown
Cancellation of Tax Court Trial Sessions Scheduled to Begin October 7 and 8, 2013. United States Tax Court trial sessions scheduled to start on Monday, October 7, 2013, in Baltimore, Chicago, Dallas, Detroit, Miami, and New Orleans, and on Tuesday, October 8, 2013, in Pittsburgh have been cancelled due to a lapse in the Court's…
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Are You One of the > 10,000 US Taxpayers Who Need To Enter the OVDP Program?
Numerous U.S. taxpayers with previously undisclosed interests in foreign financial accounts and assets continue to analyze and seek advice regarding the most appropriate methods of coming into compliance with their filing and reporting obligations. Many are pursuing participation in the current IRS offshore voluntary disclosure program (the OVDP which began in 2012), modeled after similar…
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UBS Criminal Casualties, so Far and More Guilty Pleas Over Offshore Accounts in the Works!
As the U.S. and Swiss Reach a Deal on American TaxEvaders, the IRS hunt for offshore income and accounts continues unabated. In fact, it’s intensifying. See Liechtensteinische Landesbank Turned Over 200 Clients to US government. . For those who don’t come forward before they are found, being found can be awfully painful. See list of UBS criminal convictions, so…
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