The Internal Revenue Service today made it easier for taxpayers who hold interests in either of two popular Canadian retirement plans to get favorable U.S. tax treatment and took additional steps to simplify procedures for U.S. taxpayers with these plans. As part of this, the IRS provided retroactive relief to eligible taxpayers who failed to…
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21 Year Tax Fugitive Sentenced – Located on Facebook By State Department – Really?
Francisco R. Legaspi was sentenced today to 21 months for aiding and assisting in the preparation and presentation of false tax returns and for failing to appear for his sentencing on the tax charges originally scheduled to take place on Jan. 28, 1993, U.S. Attorney Melinda Haag and IRS-CI Special Agent in Charge José M.…
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Zwerner Case Jury Provides for a Cumulative 150-Percent FBAR Penalty!
We had previously posted on May 29, 2014 "IRS Successfully Assesses 50% FBAR Penalty for "Quiet Disclosures"! where we discussed that on May 28, 2014, the Department of Justice released the outcome of that trial declaring that a jury in Miami found Carl R. Zwerner responsible for civil penalties for willfully failing to file required Reports…
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So What Does “Non-Willful” Really Mean Under The Streamlined OVDP – Take #2?
We originally posted on Thursday, September 18, 2014, "So What Does "Non-Willful" Really Mean Under The Streamlined OVDP?" where we discussed that it appears that whatever Non-Willful means outside of the OVDP streamline program; it is certainly being applied differently in evaluating a Taxpayer’s ability to transition from the OVDP program into this new 2014…
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