On Friday, April 11, 2014, we posted "Swiss Bank Information Can NOW be Disclosed to Foreign Tax Authorities WITHOUT Notice!"where we discussed That the Swiss Parliament has approved a legal amendment that tax evaders will not always have to be told if Switzerland sends information about them to other countries. The move further loosens Swiss…
Read more
No FBAR Reporting Requirement in 2013 for Bitcoin!
Taxpayers don't have to report Bitcoin on the FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR), for the current filing season, an Internal Revenue Service official said. Rod Lundquist, a senior program analyst for the Small Business/Self-Employed Division, cautioned June 4 that could change in the future as the IRS continues to…
Read more
Did You Receive a Swiss Bank Letter Asking You to Confirm That You Are Compliant with US Tax Law?
We have numerous clients requested advice on how to respond to letters from their Swiss Bankers asking them to confirm either: That the account has been declared to the IRS, with evidence of either copies of actual FBAR reports and/or A certification from a US tax advisor or lawyer stating that they can has been declared…
Read more
IRS Adopts “Taxpayer Bill of Rights;” 10 Provisions to be Highlighted on IRS.gov, in Publication 1
IRS Newswire June 10, 2014 News Essentials What's Hot News Releases IRS - The Basics IRS Guidance Media Contacts Facts & Figures Problem Alerts Around The Nation e-News Subscriptions The Newsroom Topics Tax Tips 2012 Radio PSAs Fact Sheets Armed Forces Disaster Relief Scams / Consumer Alerts Tax Shelters IRS Resources Compliance & Enforcement Contact…
Read more
